Soybean futures rise on fresh bets

Soybean prices on Thursday rose by Rs 18 to Rs 3,972 per quintal in futures market as traders created fresh positions tracking positive spot demand.

On the National Commodity and Derivatives Exchange, soybean for September delivery gained Rs 18, or 0.46 per cent, to Rs 3,972 per quintal with an open interest of 29,120 lots.

Likewise, soybean for October delivery traded higher by Rs 22, or 0.57 per cent, to Rs 3,886 per quintal with an open interest of 23,615 lots.

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