Soybean futures rise on fresh bets

Soybean prices on Tuesday went up by Rs 42 to Rs 3,848 per quintal in futures market as traders created fresh positions tracking positive spot demand.

On the National Commodity and Derivatives Exchange, soybean for September delivery rose by Rs 42, or 1.1 per cent, to Rs 3,848 per quintal with an open interest of 27,955 lots.

Likewise, soybean for October delivery gained Rs 44, or 1.17 per cent, to Rs 3,802 per quintal with an open interest of 16,255 lots.

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