Soya bean futures gain amid upbeat global sentiment
Besides strong export demand, reports that crop in Brazil did not match market expectations, mainly led to rise in soyabean prices.
By PTI | Updated:
NEW DELHI: Soya bean prices firmed up by Rs 55 to Rs 3,565 per quintal in futures trading today as traders enlarged positions on firm overseas as well as domestic markets sentiment.
Marketmen said besides strong export demand, reports that crop in Brazil did not match market expectations, mainly led to rise in soyabean prices at futures trade here.
Besides, tight supply and pick-up in domestic demand supported the upsurge in prices, they added.
At the National Commodity and Derivatives Exchange ( NCDEX), soya bean prices for August contract jumped by Rs 55, or 1.57 per cent, to Rs 3,565 per quintal, having an open interest of 2,220 lots.
Most active current contracts also followed suit and gained Rs 38, or 1.11 per cent, to Rs 3,475 per quintal, in an open interest of 57,040 lots.
Marketmen said besides strong export demand, reports that crop in Brazil did not match market expectations, mainly led to rise in soyabean prices at futures trade here.
Besides, tight supply and pick-up in domestic demand supported the upsurge in prices, they added.
At the National Commodity and Derivatives Exchange ( NCDEX), soya bean prices for August contract jumped by Rs 55, or 1.57 per cent, to Rs 3,565 per quintal, having an open interest of 2,220 lots.
Most active current contracts also followed suit and gained Rs 38, or 1.11 per cent, to Rs 3,475 per quintal, in an open interest of 57,040 lots.
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