Indian soybean futures rise on lower summer planting

NEW DELHI: Indian soybean futures rose on Friday as the total area in which the oilseed was planted fell for a third straight week.

Soybean planting fell 10.3 percent to 9.57 million hectares compared with the same period last year, marking a third straight week of decline in area under planting, the country's farm ministry said on Friday.

Indian August soybean futures were up 0.33 percent at 3052 Indian rupees ($47.60) per 10 kg on the National Commodities and Derivatives Exchange.

Rapeseed futures ended largely flat at 3,695 rupees, while August soyoil futures were 0.5 percent lower at 643.50 rupees as of 1309 GMT.