 "Soybean up 2.3% on global cues")
Soybean prices rose by Rs 87.50 to Rs 3,807.50 per quintal in futures trading today on increased speculators buying in tandum with firm global cues as well as spot market cues.
Marketmen said rise in its prices in overseas markets due to reports that the harvest will slow because of cold, wet weather in central areas of the US, the world's biggest producer, encouraged traders to raise holdings.
Pick up in demand in spot markets here also boosted the trading sentiments to some extent, they said.
Near December contract gained Rs 57, or 1.57%, to Rs 3,685.50 per quintal, clocking an open interest of 93,660 lots.
Most active November contract surged by Rs 50.50, or 1.41%, to Rs 3,636 per quintal, having an open interest of 1,07,750 lots.
Marketmen said rise in its prices in overseas markets due to reports that the harvest will slow because of cold, wet weather in central areas of the US, the world's biggest producer, encouraged traders to raise holdings.
Pick up in demand in spot markets here also boosted the trading sentiments to some extent, they said.
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At the National Commodity and Derivatives Exchange, soybean for March contract jumped up by Rs 87.50, or 2.35%, to Rs 3,807.50 per quintal, in open interest of 1,980 lots.
Near December contract gained Rs 57, or 1.57%, to Rs 3,685.50 per quintal, clocking an open interest of 93,660 lots.
Most active November contract surged by Rs 50.50, or 1.41%, to Rs 3,636 per quintal, having an open interest of 1,07,750 lots.