Soybean futures gain as traders take fresh positions

NEW DELHI: Soybean prices on Tuesday went up by Rs 52 to Rs 7,990 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 52, or 0.66 per cent, to Rs 7,990 per quintal with an open interest of 1,040 lots.

Likewise, Soybean for May delivery went up by Rs 159, or 2.14 per cent, to Rs 7,578 per quintal with an open interest of 97,165 lots.

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

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