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Soybean prices recovered by Rs 26 to Rs 3,065 per quintal in futures trading today as speculators covered-up their short positions at existing lower levels amidst a firming trend overseas.
At the National Commodity and Derivatives Exchange, soybean for delivery in October month contracts recovered by Rs 26, or 3,065 per quintal, with an open interest of 63,840 lots.
On similar lines, most-active near November month contract improved by Rs 19, or 0.64%, to Rs 2,992 per quintal, having an open interest of 1,04,900 lots.
Marketmen said the rise in soybean prices was mostly attributed to covering up of short positions by speculators and a firming trend in global markets.
