Soybean futures rise on fresh bets

New Delhi: Soybean prices on Friday rose by Rs 12 to Rs 4,311 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 12, or 0.28 per cent, to Rs 4,311 per quintal with an open interest of 88,700 lots.

Likewise, Soybean for December delivery traded higher by Rs 5, or 0.12 per cent, to Rs 4,332 per quintal with an open interest of 52,820 lots.

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