Soybean futures rise on fresh bets

Soybean prices on Wednesday went up by Rs 16 to Rs 4,516 per quintal in futures market as traders created fresh positions tracking positive spot demand.

On the National Commodity and Derivatives Exchange, soybean for January delivery rose by Rs 16, or 0.36 per cent, to Rs 4,516 per quintal with an open interest of 1,34,195 lots.

Likewise, Soybean for February delivery went up by Rs 17, or 0.38 per cent, to Rs 4,501 per quintal with an open interest of 1,24,590 lots.


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