Soybean futures rise on fresh bets

New Delhi: Soybean prices on Monday went up by Rs 38 to Rs 4,348 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 rose by Rs 38, or 0.88 per cent, to Rs 4,348 per quintal with an open interest of 85,815 lots.

Likewise, Soybean for December delivery went up by Rs 37, or 0.85 per cent, to Rs 4,374 per quintal with an open interest of 57,760 lots.

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