Soybean futures remain higher on strong demand

Rising for the third day, soybean prices rose by Rs 25 to Rs 3,199 per quintal in futures trading today as participants indulged in widening their positioins, backed up by a firm trend overseas.
Marketmen said apart from a firming trend in the global market, strong demand at the domestic spot markets supported persistent rise in soybean prices at futures trade here.
In futures trading at the National Commodity and Derivative Exchange, soybean for delivery in February contracts was trading higher by Rs 25, or 0.79 per cent, to Rs 3,199 per quintal, in an open interest of 1,55,260 lots.

Also, soybean for delivery in current month contracts traded Rs 23 or 0.74 per cent higher at Rs 3,146 per quintal with a business turnover of 5,590 open lots.