17/10/2011 (Commodity Online) - Taking cues from the upside in Malaysian palm oil prices, soy bean has climbed on the NCDEX. NCDEX October soybean contract has gained 3% at Rs.2141 on 14.00 hrs.

“Malaysian palm oil has climbed and with Diwali demand around the corner, prices are moving up.” said Sudha Acharya, oil seeds expert with Kotak Commodities.

“Besides, reports of wet weather in Maharashtra may have contributed to the upside in prices, though I am yet to confirm it.” she said.