Soybean futures rise on fresh bets

NEW DELHI: Soybean prices on Friday went up by Rs 24 to Rs 4,826 per quintal in futures market as traders created fresh positions tracking positive spot demand. On the National Commodity and Derivatives Exchange, soybean for February delivery rose by Rs 24, or 0.5 per cent, to Rs 4,826 per quintal with an open interest of 8,380 lots.

Likewise, Soybean for March delivery went up by Rs 36, or 0.75 per cent to Rs 4,821 per quintal with an open interest of 2,28,710 lots.

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