Soybean futures edge higher as traders take fresh positions

NEW DELHI: Soybean prices on Thursday went up by Rs 13 to Rs 7,900 per quintal in futures market as traders created fresh positions tracking positive spot demand.

On the National Commodity and Derivatives Exchange, soybean for May delivery rose by Rs 13, or 0.16 per cent, to Rs 7,900 per quintal with an open interest of 195 lots.

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

Soybean for June delivery went down by Rs 68, or 0.94 per cent to Rs 7,211 per quintal with an open interest of 56,040 lots.