Soybean futures gain on spot demand

Soybean prices traded higher by Rs 105 to Rs 4,045 per quintal in futures trade on Friday on the back of fresh positions built up by speculators. At the National Commodity and Derivatives Exchange, soybean for September gained Rs 105, or 2.66 per cent, to Rs 4,045 per quintal in an open interest of 2,060 lots.

The delivery for October edged up by Rs 13, or 0.34 per cent, to Rs 3,783 per quintal, open interest stood at 44,110 lots. Marketmen said participants raised their holdings which mainly pushed soybean futures to trade higher.