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Indian soybean futures rise on poor spot arrivals

NEW DELHI, Nov 6 (Reuters) - Indian soybean futures rose on Wednesday on poor arrivals in spot markets, raising concerns over crop damage due to rains, while a weaker rupee pushed soyoil up.

* Demand from soymeal processors and edible oil refiners also supported buying in soybeans, said traders.

* Soybeans, the main summer-sown oilseed crop, are crushed to produce cooking oils and soymeal, used as animal feed.

* Rains at the start of the harvest season, during the first half of October, damaged the oilseed crop, resulting in downward revisions in various output estimates for the crop.

* India's soymeal exports may be limited to 4 million tonnes in 2013/14, around 1 million tonnes lower than early forecasts, as rains during the harvest damaged the oilseed crop in the main growing areas.

* "Soybeans traded up on low spot arrivals after nearly five days' market closure due to Diwali celebrations," said Isha Trivedi, an analyst at Phillip Commodities India Pvt Ltd.

* She said market arrivals of the newly harvested soybeans remained less than half of their usual levels.

* Soyoil reflected the sentiment of soybeans with additional support from the weakness in the rupee and festive demand.

* Soyoil, a better quality cooking medium than cheaper palm oil, is preferred for fried foods in the festival season starting from October.

* The rupee crossed the 62 mark against the U.S. dollar, making soyoil imports costlier as a weaker rupee makes imports costly.

* At 1030 GMT, the key December soybean contract on the National Commodity and Derivatives Exchange was up 2.2 percent at 3,966 rupees per 100 kg.

* The key soyoil contract was up 1.3 percent at 749 rupees per 10 kg.

* Rapeseed reflected the sentiment in soy complex.

* The rapeseed contract for December was up 0.9 percent at 3,831 rupees per 100 kg.

* At the Indore spot market in Madhya Pradesh, soybeans rose 22 rupees to 3,872 rupees per 100 kg, while soyoil was up around 2 rupees to 750 rupees per 10 kg. At Jaipur in Rajasthan, rapeseed was quoted at around 3,862 rupees. (Reporting by Ratnajyoti Dutta; Editing by Subhranshu Sahu)