Soyabean futures prices rise on spot demand,global cues

Soyabean futures prices today moved up by Rs 41 to Rs 3,158 per quintal.

Written by Agencies | New Delhi | Published: October 16, 2012 1:41 pm

Soyabean futures prices today moved up by Rs 41 to Rs 3,158 per quintal as participants enlarged their positions on the back of pick-up in demand in the spot market.

Also,a firm global trend supported the upside.

At the National Commodity and Derivatives Exchange,soyabean for delivery in November month rose by Rs 41,or 1.32 per cent,to Rs 3,158 per quintal,with an open interest of 1,49,720 lots.

Soyabean for delivery in October also moved up by Rs 23.50,or 0.75 per cent,to Rs 3,156 per quintal in 10,390 lots.

Market analysts said besides rising spot demand,a firmglobal trend also influenced soyabean futures.

Meanwhile,soyabean oil for December delivery advanced 1.2 per cent to 50.63 cents a pound on the Chicago Board of Trade.

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