Soybean prices in Indore rose due to firm demand from crushing units and stockists. A marginal decline in arrivals also aided the upside. In Indore, the oilseed was sold for 3,850-3,860 rupees per 100 kg, up 10-15 rupees from previous day.

Arrivals in Madhya Pradesh, the largest grower, were pegged at 40,000 bags (1 bag = 100 kg) compared with 45,000 bags on previous day. Tracking spot markets, soybean futures on NCDEX too rose.

The June contract was up 0.3% at 3,804 rupees per 100 kg. Prices are also likely to rise due to a forecast of delayed onset of monsoon this year.

The India Meteorological Department said southwest monsoon rains are likely to hit Kerala on Jun 6. The usual date of monsoon onset on the Kerala coast is Jun 1.