Soybean futures rise on fresh bets

Soybean prices on Monday went up by Rs 100 to Rs 4,730 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 100, or 2 per cent, to Rs 4,730 per quintal with an open interest of 1,03,500 lots.

Likewise, Soybean for February delivery went up by Rs 104, or 2.24 per cent to Rs 4,743 per quintal with an open interest of 1,51,260 lots.


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