Soybean futures jump as traders take fresh positions

NEW DELHI: Soybean prices on Wednesday went up by Rs 127 to Rs 7,377 per quintal in futures market as traders created fresh positions tracking positive spot demand.

On the National Commodity and Derivatives Exchange, soybean for May delivery rose by Rs 127, or 1.75 per cent, to Rs 7,377 per quintal with an open interest of 53,660 lots.

Marketmen said raising of fresh positions by speculators on the back of higher demand mainly led to rise in soybean prices.