Soybean futures up by Rs 50 per quintal

Soybean futures traded higher by Rs 50 to Rs 3,869 per quintal today following widening of positions by participants, supported by a firming trend overses.
In addition, tight supplies and pick up in demand at spot markets also helped to support prices, they quoted.
At the National Commodity and Derivative Exchange, soybean delivery for second contract October month rose by Rs 50, or 1.31 per cent to Rs 3,869 per quintal, with an open interest of 34,630 lots.
Also, the commodity for most-active delivery in July month up by Rs 12, or 0.32 per cent to Rs 3,752 per quintal, in an open interest of 56,620 lots.

Marketmen said expanding of positions by traders driven by a firming trend in the global market, influenced soybean prices at futures trade here.