Soybean futures up on short-covering

Soybean prices went up by Rs 20 to Rs 3,147 per quintal in futures trade after raising of positions by operators, supported by strong trend at the physical markets.
Besides, positive global cues influenced soybean prices.
Marketmen said, widening of bets by participants at existing levels amid a firm trend at the spot markets on rising demand and positive global cues trend, mainly influenced soybean prices in futures trade.
At the National Commodity and Derivatives Exchange, soybean for November gained Rs 20, or 0.64 per cent, to Rs 3,147 per quintal, with an open interest of 52,990 lots.
Similarly, the delivery for October advanced by Rs 18, or 0.58 per cent, to Rs 3,114 per quintal, clocking an open interest of 44,890 lots.