Soybean futures lift up on short covering

Soybean futures bounced back by Rs 24 to Rs 3,003 per quintal in futures trade today following bargain buying by participants in the wake of emerging overseas markets.
Market players said sprouting of buying by operators at prevailing levels tracking firm overseas markets mainly led to the rise in futures trading.
Besides, a higher trend in other edible oils' prices also helped to buoy uptrend in prices, they quoted.
At the National Commodity and Derivatives Exchange, soybean delivery for May recovered by Rs 24, or 0.81 per cent, to Rs 3,003 per quintal, showing an open interest of 66,980 lots.

Also, the delivery for April retook by Rs 22, or 0.76 per cent, to Rs 2,919 per quintal, revealing an open interest of 1,91,020 lots.