Soybean futures rise on fresh bets

New Delhi: Soybean prices on Tuesday rose by Rs 43 to Rs 4,290 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 43, or 1.01 per cent, to Rs 4,290 per quintal with an open interest of 1,815 lots.

Likewise, soybean for November delivery traded higher by Rs 42, or 0.98 per cent, to Rs 4,283 per quintal with an open interest of 91,575 lots.

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