Soybean prices on Wednesday rose 1.96 per cent to Rs 3,854 per quintal in futures market as traders raised their positions tracking firm trend at spot market.
On the National Commodity and Derivatives Exchange, soybean for April delivery rose by Rs 74, or 1.96 per cent, to Rs 3,854 per quintal with an open interest of 1,03,835 lots.
Soybean for May delivery went up by Rs 48, or 1.27 per cent, to Rs 3,820 per quintal with an open interest of 65,310 lots.
Market players said raising of fresh positions by speculators on the back of higher demand mainly led to rise in soybean prices.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)