Soybean futures rise on fresh bets

Soybean prices on Monday went up by Rs 24 to Rs 4,300 per quintal in futures market as traders created fresh positions tracking positive spot demand.

On the National Commodity and Derivatives Exchange, soybean for December delivery rose by Rs 24, or 0.56 per cent, to Rs 4,300 per quintal with an open interest of 20,430 lots.

Likewise, Soybean for January delivery went up by Rs 24, or 0.56 per cent to Rs 4,293 per quintal with an open interest of 2,01,370 lots.

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