Soybean futures jump 3% amid strong spot demand

Soybean futures jump 3% amid strong spot demand

NEW DELHI: Soybean prices on Tuesday went up by Rs 224 to Rs 7,344 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 224, or 3.15 per cent, to Rs 7,344 per quintal with an open interest of 6,680 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 183, or 2.82 per cent to Rs 6,682 per quintal with an open interest of 37,165 lots.

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