Soyabean futures up on increased buying

Soyabean prices rose by Rs 16.50, or 0.86 per cent, to Rs 1,930 per quintal, as traders raised their holdings on restricted supplies at physical markets.

Marketmen said less arrivals and rising exports demand, mainly invited traders to increase their holdings in futures prices of soyabean.

At the National Commodity and Derivatives Exchange counter, soyabean for November contract swifted by Rs 16.50, or 0.86 per cent, to Rs 1,930 per quintal, with an open interest of 3,720 lots.

Soyabean for delivery in current-month June contract also followed suit and moved up by Rs 14.50, or 0.75 per cent, to Rs 1,942 per quintal, with an open interest of 1,16,280 lots.