Soybean futures rise on fresh bets

Soybean prices on Tuesday went up by Rs 15 to Rs 4,587 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 15, or 0.33 per cent, to Rs 4,587 per quintal with an open interest of 50,435 lots.

Likewise, Soybean for February delivery went up by Rs 9, or 0.2 per cent, to Rs 4,596 per quintal with an open interest of 1,91,160 lots.


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