Soybean futures gain on fresh bets

New Delhi, Feb 27 () Soybean prices on Thursday rose by Rs 16 to Rs 3,788 per quintal in futures market as traders created fresh positions in line with spot demand.

On the National Commodity and Derivatives Exchange, soybean for March delivery rose by Rs 16, or 0.42 per cent, to Rs 3,788 per quintal with an open interest of 1,05,360 lots.

Soybean for April delivery gained Rs 18, or 0.48 per cent, to Rs 3,750 per quintal with an open interest of 1,11,285 lots.

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