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Soybean futures rise on fresh bets

Soybean prices on Monday went up by Rs 4 to Rs 3,884 per quintal in futures market as traders created fresh positions tracking positive spot demand.

On the National Commodity and Derivatives Exchange, soybean for May delivery rose by Rs 4, or 0.1 per cent, to Rs 3,884 per quintal with an open interest of 35,860 lots.

Soybean for June delivery climbed by Rs 12, or 0.32 per cent, to Rs 3,816 per quintal with an open interest of 72,155 lots.

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