Soybean futures move higher on firm spot demand

NEW DELHI: Soybean prices on Thursday rose by Rs 41 to Rs 7,036 per quintal in the futures market as traders created fresh positions tracking positive spot demand.

On the National Commodity and Derivatives Exchange, soybean for the May delivery rose by Rs 41, or 0.59 per cent, to Rs 7,036 per quintal with an open interest of 75,350 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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