Soybean prices rise on strong global sentiment

Soybean prices rose by Rs 29 to Rs 3,412 per quintal in futures trade Wednesday on the accumulation of bets by traders in line with strong sentiment overseas.

Market players said elaboration of positions by the participants on the back of rising trend overseas, mainly brought an uptick in soybean prices here in the futures trade.

At the National Commodity and Derivatives Exchange counter, soybean delivery for February advanced by Rs 29, or 0.86 per cent, to Rs 3,412 per quintal with an open interest of 60,410 lots.

In a similar way, the delivery of March 2019 edged up by Rs 16, or 0.47 per cent, to Rs 3,456 per quintal, having an open interest of 3,730 lots.

(With inputs from agencies.)