Soybean futures rise on strong demand

Soybean prices on Wednesday went up by 0.26 per cent to Rs 3,876 per quintal in futures market as traders created fresh positions tracking positive spot demand. On the National Commodity and Derivatives Exchange, soybean for April delivery rose by Rs 10, or 0.26 per cent, to Rs 3,876 per quintal with an open interest of 26,300 lots. Marketmen said raising of fresh positions by speculators on the back of higher demand mainly led to rise in soybean prices for April delivery. However, Soybean for May delivery dropped by Rs 18, or 0.47 per cent, to Rs 3,848 per quintal with an open interest of 87,710 lots. PTI