Higher demand led to rise in soybean prices

Soybean prices on Tuesday rose by Rs 24 to Rs 4,132 per quintal in futures market as traders created fresh positions supported by a strong spot demand.

On the National Commodity and Derivatives Exchange, soybean for delivery in December was up by Rs 24, or 0.58 per cent, to Rs 4,132 per quintal with an open interest of 58,825 lots.

Soybean for delivery in January rose by Rs 26, or 0.63 per cent, to Rs 4,164 per quintal having an open interest of 1,48,840 lots.