Soybean futures rise on fresh bets

New Delhi: Soybean prices on Wednesday rose by Rs 72 to Rs 4,146 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 72, or 1.77 per cent, to Rs 4,146 per quintal with an open interest of 6,255 lots.

Likewise, soybean for November delivery traded higher by Rs 58, or 1.41 per cent, to Rs 4,158 per quintal with an open interest of 90,230 lots.

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