Soybean futures up by Rs 39 per quintal

Soybean prices strengthened by Rs 39 to Rs 2,882 per quintal in futures trading today after participants built up fresh positions amid a firm trend in overseas market.
However, bumper crop overseas is largely having pressure on prices and preventing any unwanted sharp upsurge, they quoted.
Overall market breadth was positive with the gain in five contracts out of six.
At the National Commodity and Derivative Exchange, soybean for delivery in April contract shot up by Rs 39 or 1.37 per cent to Rs 2,882 per quintal, with the business turnover of 22,840 open lots.
Also, soybean for delivery in May spurted by Rs 27 or 0.93 per cent to Rs 2,945 per quintal, in an open interest of 1,30,220 lots.

Marketmen said widening of bets by participants mainly influenced soybean prices at futures trade here.