Soybean futures rise on fresh bets

New Delhi,  Soybean prices on Wednesday rose by Rs 56 to Rs 4,375 per quintal in futures market as traders created fresh positions tracking positive spot demand.

On the National Commodity and Derivatives Exchange, soybean for November delivery traded higher by Rs 56, or 1.3 per cent, to Rs 4,375 per quintal with an open interest of 16,860 lots.

Likewise, soybean for December delivery gained Rs 65, or 1.51 per cent, to Rs 4,373 per quintal with an open interest of 1,53,255 lots.

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