Soybean futures rise on fresh bets

New Delhi: Soybean prices on Thursday rose by Rs 60 to Rs 3,926 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 60, or 1.55 per cent, to Rs 3,926 per quintal with an open interest of 27,390 lots.

Likewise, soybean for November delivery traded higher by Rs 42, or 1.08 per cent, to Rs 3,929 per quintal with an open interest of 58,835 lots.

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