Soybean futures jump 2% on pickup in spot demand

NEW DELHI: Soybean prices on Thursday went up by Rs 112 to Rs 6,105 per quintal in futures market as traders created fresh positions tracking positive spot demand.

On the National Commodity and Derivatives Exchange, soybean for April delivery rose by Rs 112, or 1.87 per cent, to Rs 6,105 per quintal with an open interest of 72,530 lots.

Likewise, Soybean for May delivery went up by Rs 120, or 2.05 per cent to Rs 5,985 per quintal with an open interest of 94,925 lots.

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