Soybean prices improved further by Rs 33 to Rs 3,775 per quintal in futures trade today following expansion of holdings by participants enthused by firming trend overseas.
Market players mentioned the continuous uptrend in soybean prices to robust trend overseas due to lower stock-piles and fall in production.
Besides, shortage of ready stocks in the market on restricted arrivals from growing regions, triggered by strong demand for edible oils in spot markets, too pushed up trading sentiment, they added.
At the National Commodity and Derivative Exchange, soybean delivery for March contracts spurted by Rs 33, or 0.88 per cent, to Rs 3,775 per quintal, revealing an open interest of 2,59,820 lots.
Likewise, the delivery of February contracts gained Rs 23, or 0.62 per cent, to Rs 3,755 per quintal with an open interest of 5,710 lots.
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