Soyabean futures up on fresh buying support

Soyabean prices spurted by Rs 36 to Rs 2,475 per quintal in the future trade today, as traders increased their stock holdings, driven by firm spot demand.

Market analysts said restricted supply against rise in demand from soya oil making industries, brought the rise in futures prices of soyabean.

Pick up in export demand of soymeal also enthused the trading sentiments to some extent, they added.

At the National Commodity and Derivatives Exchange counter, soyabean price for delivery in May at Indore climbed up by Rs 36 or 1.36 per cent, to Rs 2,475 per quintal, having an open interest of 890 lots.

Prices for delivery in January also moved up by Rs 13 or 0.57 per cent to Rs 2,301.50, per quintal, clocking an open interest of 1,86,450 lots.

Most active February-month delivery contract also jumped up by Rs 20 or 0.85 per cent, to Rs 2,373 per quintal, revealing an open interest of 2,16,960 lots.