Soybean futures rise on fresh bets

New Delhi: Soybean prices on Wednesday rose by Rs 20 to Rs 4,006 per quintal in futures market as traders created fresh positions tracking positive spot demand. On the National Commodity and Derivatives Exchange, soybean for October delivery gained Rs 20, or 0.5 per cent, to Rs 4,006 per quintal with an open interest of 38,245 lots.

Likewise, soybean for November delivery increased by Rs 19, or 0.48 per cent, to Rs 3,994 per quintal with an open interest of 44,040 lots.

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