Soybean futures rise on fresh bets

New Delhi: Soybean prices on Wednesday rose by Rs 39 to Rs 4,344 per quintal in futures market as traders created fresh positions tracking positive spot demand. On the National Commodity and Derivatives Exchange, soybean for November delivery gained Rs 39, or 0.91 per cent, to Rs 4,344 per quintal with an open interest of 88,880 lots.

Likewise, soybean for December delivery traded higher by Rs 45, or 1.04 per cent, to Rs 4,375 per quintal with an open interest of 43,670 lots.

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