Soybean futures jump nearly 2 pc on strong demand

Soybean prices on Wednesday rose by Rs 72 to Rs 4,073 per quintal in futures trade as traders created fresh positions supported by a strong spot demand.

On the National Commodity and Derivatives Exchange, soybean for delivery in November was up by Rs 72, or 1.8 per cent, to Rs 4,073 per quintal with an open interest of 6,280 lots.

Market players said raising of fresh positions by speculators on the back of high demand mainly led to rise in soybean prices.