Soybean futures rise on fresh bets

Soybean prices on Tuesday went up by Rs 308 to Rs 9,414 per quintal in futures market as traders created fresh positions tracking positive spot demand.

On the National Commodity and Derivatives Exchange, soybean for August delivery rose by Rs 308, or 3.38 per cent, to Rs 9,414 per quintal with an open interest of 27,305 lots.

Marketmen said raising of fresh positions by speculators on the back of higher demand mainly led to rise in soybean prices.