Soybean futures up on global cues

Soyabean prices looked up by Rs 20 to Rs 3,457 per quintal in futures trading today following increased buying by participants in tandem with higher overseas markets sentiment.
Marketmen said hike in its prices at international markets mainly encouraged traders to enlarged positions, this led the rise in soybean prices here in domestic markets.
Pick up in demand and rising prices of other edible oils prices too helped to supported the uptrend, they added.
At the National Commodity and Derivatives Exchange platform, soybean prices for current contract April month gained by Rs 20, or 0.58 per cent to Rs 3,457 per quintal, having an open interest of 43,570 lots.

Most active second contract June month also advanced by Rs 19, or 0.55 per cent to Rs 3,477 per quintal, clocking an open interest of 55,760 lots.