Soybean futures rise on fresh bets

Soybean prices on Thursday rose by Rs 63 to Rs 4,540 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 rose by Rs 63, or 1.41 per cent, to Rs 4,540 per quintal with an open interest of 3,150 lots.

Likewise, soybean for December delivery gained Rs 64, or 1.43 per cent, to Rs 4,534 per quintal with an open interest of 1,62,230 lots.

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