Soybean futures rise on global cues

Soybean prices enquired higher by Rs 21 to Rs 3,257 per quintal in futures trade today as traders created holdings in sync with firming overseas markets.

At the National Commodity and Derivative Exchange, soybean delivery for the most-traded October month contract spurted by Rs 21, or 0.65 per cent, to Rs 3,257 per quintal, having an open interest of 57,160 lots.

The delivery for November month contract also moved up by Rs 11, or 0.34 per cent, to Rs 3,285 per quintal, depicting an open interest of 21,540 lots.

Marketmen said speculators were raising their bets in tune with a firm trend overseas and a rising trend in edible oil prices at domestic markets due to festive seas demand, influenced soybean futures prices here.

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