Soybean prices on Wednesday rose by Rs 56 to Rs 4,118 per quintal in futures market as traders created fresh positions in line with spot demand.
On the National Commodity and Derivatives Exchange, soybean for February delivery rose by Rs 56, or 1.38 per cent, to Rs 4,118 per quintal with an open interest of 78,635 lots.
Soybean for March delivery rose by Rs 55, or 1.35 per cent, to Rs 4,119 per quintal with an open interest of 1,31,620 lots.
Market players said raising of fresh positions by speculators on the back of higher demand led to rise in soybean prices.
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