Soyabean futures recover on short covering, global cues

Soyabean futures prices recovered by Rs 37.50 to Rs 2,428.50 per quintal in future trading today on emergence of covering pending long positions driven by firm overseas sentiment.

At the National Commodity and Derivaties Exchange counter, soyabean for delivery in February spurted by Rs 37.50 or 1.57 per cent, to Rs 2,428.50 per quintal, having an open interest of 2,47,570 lots.

January-month delivery contract flared up by Rs 34.50 or 1.49 per cent, to Rs 2,352 per quintal, with an open interest of 1,13,280 lots.