Soybean futures up 0.47 pc on firm spot demand

Soybean prices traded up by Rs 17 to Rs 3,610 per quintal in futures trade Monday after participants extended their bets, tracking positive cues from the physical market.

Marketmen said upbeat demand at the spot market also led to the rise in soybean prices.

On the National Commodity and Derivatives Exchange, soybean contracts for July delivery rose by Rs 17, or 0.47 per cent, to Rs 3,610 per quintal, clocking an open interest of 8,570 lots.

Soybean contracts for August delivery also shot up by Rs 14, or 0.38 per cent, to Rs 3,674 per quintal, with an open interest of 68,920 lots.