Soyabean up on global cues

Soyabean prices rose by Rs 38.50 to Rs 3,184 per quintal in futures trade today as traders increased positions in line with firm overseas markets cue.

Marketmen said hike in soyabean prices overseas mainly influenced trading sentiments here in futures price of soyabean.

Pick-up in domestic demand and rising export demand boosted trading sentiments to some extent, they added.

At the National Commodity and Derivatives Exchange, the April contract rose by Rs 38.50, or 1.22%, to Rs 3,184 per quintal, with a business volume of 61,140 lots.

The May contract shot up by Rs 36, or 1.12%, to Rs 3,244.50 per quintal, with a business volume of 1,84,760 lots.