Soybean futures bounce on short-covering

Soybean prices recovered

by Rs 13 to Rs 3,666 per quintal in futures trade today

after speculators covered up their short positions coupled with positive global trends.

Marketmen said besides covering-up of short positions by participants, positive leads from global markets helped soybean prices to recover at futures trade here.

At the National Commodity and Derivatives Exchange, contract for soybean delivery in May was up by Rs 13 or 0.36 per cent to Rs 3,666 per quintal, depicting an open interest of 1,82,310 lots.

Soybean for delivery in June gained Rs 13 or 0.35 per cent to Rs 3,726 per quintal, revealing an open interest of 81,530 lots.