Soybean futures up on spot demand

Soybean prices rose by Rs 11 to Rs 3,431 per quintal in futures trade Thursday as speculators enlarged their positions supported by a strong spot demand.

Tight arrivals from the producing regions further influenced the prices.

At the National Commodity and Derivatives Exchange, soybean for the most-traded delivery in February was up by Rs 11, or 1.39 per cent, to Rs 3,431 per quintal.

Soybean for delivery in March 2019, also jumped by Rs 15, or 0.43 per cent, to Rs 3,470 per quintal.

Marketmen said fresh positions created by participants following upsurge in domestic demand pushed up soybean prices in futures trade here.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)