Soybean prices up in Indore despite higher arrivals

Prices of soybean in Indore rose due to a slight increase in buying by crushers. Reports of procurement by the Maharashtra government also lifted the sentiment. Reports that Maharashtra has urged the Centre to levy import duty on soybean and soymeal, and to further increase the duty on edible oil imports, are also seen bolstering the sentiment. The most-active December contract of soybean ended 1.6% higher on the NCDEX.