Soyabean up 1.6% on global cues

Soyabean prices rose by Rs 47.50 to Rs 2,888.50 per quintal in future trading today following increased buying by traders in line with a firming trend overseas.

Marketmen said tracking emerging global markets, traders enlarged their holdings.

At the National Commodity and Derivatives Exchange, soyabean price for May delivery gained Rs 47.50, or 1.67%, to Rs 2,888.50 per quintal, with an open interest of 1,11,850 lots.

The April contract added Rs 46, or 1.64%, to Rs 2,847 per quintal, depicting an open interest of 2,55,140 lots, while March soyabean was up Rs 41, or 1.49%, to Rs 2,787 per quintal, with an open interest of 79,110 lots.