Soybean futures improve on positive global leads

Soybean prices inched higher by Rs 11 to Rs 3,778 per quintal in futures trade as participants increased positions, taking positive leads from overseas markets.

At the National Commodity and Derivatives Exchange, soybean for delivery in June contracts advanced by Rs 11, or 0.29 per cent, to Rs 3,778 per quintal with showing an open interest of 1,52,060 lots.

Similarly, the contract for July edged up by Rs 9, or 0.24 per cent, to Rs 3,797 per quintal in an open interest of 44,580 lots.

Market players said widening of bets by traders, tracking a firm trend overseas, led the rise in soybean futures.