Soybean prices on Tuesday rose by Rs 38 to Rs 4,222 per quintal in futures market as traders created fresh positions on strong spot demand.
On the National Commodity and Derivatives Exchange, soybean for January delivery rose Rs 38, or 0.91 per cent, to Rs 4,222 per quintal with an open interest of 58,230 lots.
Soybean for February delivery also rose by Rs 36, or 0.86 per cent, to Rs 4,244 per quintal with an open interest of 1,92,630 lots.
Market players said raising of fresh positions by speculators on the back of higher demand mainly led to the rise in soybean prices.
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