Soybean futures gain on spot demand

Soybean prices on Monday rose by Rs 5 to Rs 3,965 per quintal in futures trade as traders created fresh positions supported by a strong spot demand.

On the National Commodity and Derivatives Exchange, soybean for delivery in November was up by Rs 5, or 0.13 per cent, to Rs 3,965 per quintal with an open interest of 10,640 lots.

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