India soybean seen up on firm Malaysian palm oil

MUMBAI, June 1 (Reuters) - Indian soybean and soyoil futures may edge up in early trade on Monday tracking firm Malaysian palm oil and dwindling arrivals in spot markets, analysts said.

At 9:31 a.m. the benchmark August palm oil futures KPOc3 on Bursa Malaysia Derivatives Exchange was up 1.99 percent to 2,611 ringgit a tonne.

The July soybean contract NSBN9 on the National Commodity and Derivatives Exchange ended at 2,616.5 rupees per 100 kg, while July soyoil NSON9 ended at 494.15 rupees per 10 kg in the previous session.

But a likely rise in soybean acreage may limit the gains, they added.

India's soybean acreage may rise for a seventh year in a row to touch 10 million hectares (24.71 million acres) this sowing season on better returns than most crops, experts said. See [ID:BOM463848]