Soybean futures jump 1% amid strong spot demand

Soybean futures jump 1% amid strong spot demand

NEW DELHI: Soybean prices on Wednesday went up by Rs 75 to Rs 7,350 per quintal in futures market as traders created fresh positions tracking positive spot demand.

On the National Commodity and Derivatives Exchange, soybean for June delivery rose by Rs 75, or 1.03 per cent, to Rs 7,350 per quintal with an open interest of 3,785 lots.

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

Soybean for July delivery went down by Rs 87, or 1.32 per cent to Rs 6,685 per quintal with an open interest of 38,615 lots.

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