(Reuters) - Indian soybean futures were steady in volatile trade on Friday as profit-taking driven by a rise in rupee outweighed gains in the world market and concerns over soybean sowing in India owing to poor rainfall. * Soyoil and rapeseed futures were also steady as gains in Malaysian palm oil were negated by a strong rupee. * A strong rupee makes edible oil imports cheaper and at the same time trims returns of Indian oilmeal exporters. * The July soybean contract on India's National Commodity and Derivatives Exchange was up 0.23 percent at 3,941.5 rupees per 100 kg by 0809 GMT, after hitting a record high of 3,963 rupees in the previous session. * "Rupee is hurting sentiments. Fundamentals are supporting upside. Overseas markets are still rallying. Still concerns are there over soybean sowing," said Subhranil Dey, an analyst with SMC Comtrade. * Madhya Pradesh and Maharashtra are the top two soybean producers in the country accounting for more than 85 percent of the total production. Both states have so far received sharply lower rainfall than average. * "The rise in rupee can affect oilseeds up to a certain level. Futures are unlikely to correct significantly from current level as oilseeds supplies are constrained." * The July soyoil contract edged up 0.05 percent to 762.8 rupees per 10 kg, while rapeseed eased 0.28 percent to 3,965 rupees per 100 kg. * U.S. soybean was up 0.27 percent at $14.75 per bushel, while Malaysian palm oil futures rose 0.4 percent to 3,004 ringgit per tonne. * In the Indore spot market in Madhya Pradesh, soyoil was steady at 750.75 rupees per 10 kg, while soybean rose 14 rupees to 3,870 rupees per 100 kg. At Sri Ganganagar in Rajasthan, rapeseed eased by 28 rupees to 3,808 per 100 kg. (Reporting by Rajendra Jadhav; Editing by Jijo Jacob)

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