Soybean futures rise on spot demand

Soybean prices increased by Rs 22 to Rs 3,732 per quintal in futures trade on Monday as speculators raised their positions supported by a strong spot demand.

Marketmen said fresh positions created by participants following upsurge in domestic demand pushed up soybean prices here.

On the National Commodity and Derivatives Exchange, soybean contracts for September delivery traded higher by Rs 22, or 0.59 per cent, to Rs 3,732 per quintal in an open interest of 12,750 lots.