Soyabean futures gains on increase buying

Soyabean prices hardened by Rs 16.50 to Rs 2,320.50 per quintal in the future trading today, on sustained buying by traders in line with firm overseas cues.

Market analysts said rise in global markets guided the trading sentiments in future price of soyabean.

Pick up in export demand also encouraged traders to enlarge holdings, they added.

At the National Commodity and Derivatives Exchange, soyabean prices for the most active January month contract moved up by Rs 16.50 or 0.72 per cent to Rs 2,320.50 per quintal, having an open interest of 2,10,290 lots.

December month contract also remained in demand and gained by Rs 15 or 0.66 per cent to Rs 2,280 per quintal, with an open interest of 1,84,200 lots.