Soyabean prices surged by Rs 23 to Rs 2,326.50 per quintal in futures trade today due to increased buying by traders, supported by firm overseas market sentiments.
Market analysts said pick up in export demand of soyabean along with higher global markets cue, encouraged traders increase their holdings.
At the National Commodity and Derivatives Exchange counter, soyabean price for delivery in February hardened by Rs 23, or 1 per cent, to Rs 2,326.50 per quintal, with an open interest of 1,87,120 lots.
For delivery in January prices flared up by Rs 19.50, or 0.87 per cent, to Rs.2,266 per quintal, with a business turnover of 1,98,660 lots.
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