Soybean futures rise on fresh bets

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New Delhi, Mar 16 (PTI) Soybean prices on Tuesday rose by Rs 47 to Rs 5,550 per quintal in futures market as traders created fresh positions tracking positive spot demand.

On the National Commodity and Derivatives Exchange, soybean for March delivery gained Rs 47, or 0.85 per cent, to Rs 5,550 per quintal with an open interest of 1,540 lots.

Likewise, soybean for April delivery traded higher by Rs 42, or 0.78 per cent, to Rs 5,448 per quintal with an open interest of 1,47,190 lots.

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