Soybean futures rise on fresh bets

New Delhi: Soybean prices on Wednesday rose by Rs 69 to Rs 3,907 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 rose by Rs 69, or 1.8 per cent, to Rs 3,907 per quintal with an open interest of 22,735 lots.

Likewise, soybean for November delivery gained Rs 67, or 1.73 per cent, to Rs 3,938 per quintal with an open interest of 76,660 lots.

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