Soybean up 2.2% on global cues

Soybean prices for November contract spurted by 2%

Soybean future prices firmed up by Rs 72 to Rs 3,350 per quintal in futures trade today on increased buying by traders in line with firm overseas cues.

Marketmen said rise in price in international markets, supported by low supply and rising domestic demand mainly improved the sentiment here in futures trade.

At the National Commodity and Derivatives Exchange, soybean for October gained Rs 72, or 2.20%, to Rs 3,350 per quintal, with an open interest of 84,850 lots.

Prices for November contract also spurted by Rs.66.50, or 2.02%, to Rs 3,360 per quintal, clocking an open interest of 86,060 lots.