Soybean futures rise on fresh bets

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New Delhi, Mar 23 (PTI) Soybean prices on Tuesday went up by Rs 55 to Rs 5,671 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 55, or 0.98 per cent, to Rs 5,671 per quintal with an open interest of 1,27,985 lots.

Likewise, Soybean for May delivery went up by Rs 18, or 0.32 per cent, to Rs 5,585 per quintal with an open interest of 58,510 lots.

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