Soybean futures rise 3% on strong demand

In the futures market, soybean rose by Rs 255 to Rs 7,574 per quintal. Traders created new positions to monitor positive space demand.

On the National Commodities and Derivatives Exchange, soybean for April delivery up to Rs 255, or 3.48%, to Rs 7,574 per quintal with 3,305 lots of open interest.

Soybean for May delivery up by Rs 208 or 2.96% to Rs 7,230 per quintal with an open interest rate of 1,03,925 lots.

Marketers said the rise in new levels by businessperson in the face of high demand was mainly due to the rise in soybean prices.

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