Soybean futures spurt on global cues

Soybean prices went up by a whopping Rs 29 to Rs 2,884 per quintal on widening of positions by the speculators enthused by rising price overseas.
Market players said raising bets by participants, supported by upbeat overseas cues amid sturdy demand in physical markets, lifted soybean futures prices notably higher.
At the National Commodity and Derivative Exchange, soybean for most-traded December strengthened by Rs 29 or 1.02 per cent to Rs 2,884 per quintal, clocking an open interest of 1,13,980 lots.
Likewise, the delivery in November shot up by Rs 26 or 0.93 per cent to Rs 2,832 per quintal, with the business turnover of 67,440 open lots.