Soybean futures surge on uptick in demand

Soybean futures prices surged by Rs 4 to Rs 3,788 per quintal in futures trade on Friday as participants raised bets.

On the National Commodity and Derivatives Exchange, soybean for delivery in November contracts rose by Rs 4, or 0.11 per cent, to Rs 3,788 per quintal clocking an open interest of 75,870 lots.

The contracts for December delivery traded higher by Rs 9, or 0.24 per cent, to Rs 3,817 per quintal in 75,340 lots.

Marketmen said raising of holdings by participants amid increase in demand, lifted soybean prices in futures trade here.