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Soybean prices on Tuesday rose

Soybean prices on Tuesday rose by Rs 24 to Rs 3,966 per quintal in futures market as traders created fresh positions in line with spot demand.

On the National Commodity and Derivatives Exchange, soybean for February delivery rose by Rs 24, or 0.61 per cent, to Rs 3,966 per quintal with an open interest of 33,690 lots.

Soybean for March delivery rose by Rs 16, or 0.36 per cent, to Rs 3,940 per quintal with an open interest of 1,44,825 lots.

Market players said raising of fresh positions by speculators on the back of higher demand led to rise in soybean prices