Soybean prices on Wednesday rose 2.25 per cent to Rs 3,450 per quintal in futures market as traders enlargened their positions tracking firm trend in spot market.
On the National Commodity and Derivatives Exchange, soybean for March delivery rose by Rs 76, or 2.25 per cent, to Rs 3,450 per quintal with an open interest of 2,075 lots.
Soybean for April delivery went up by Rs 30, or 0.90 per cent, to Rs 3,376 per quintal with an open interest of 1,24,855 lots.
Market players said raising of fresh positions by speculators on the back of higher demand mainly led to rise in soybean prices.
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