Indian soybean futures rise on lower summer planting

NEW DELHI: Indian soybean futures rose on Monday as planting of the oilseed declined steadily due to low rainfall in key producing state of Madhya Pradesh.

Soybean planting was hit considerably in Madhya Pradesh, which accounts for more than 60 percent of India's soybean production.

Indian August soybean futures were up 1 percent at 2,973 rupees ($46.60) per 10 kg on the National Commodities and Derivatives Exchange.

Rapeseed futures ended 0.4 percent higher at 3,666 rupees, while August soyoil futures were 0.2 percent up at 639.60 rupees, as of 1153 GMT.