Soybean futures gain on spot demand

New Delhi, Mar 20 () Soybean prices on Friday rose 1.33 per cent to Rs 3,508 per quintal in futures market as traders enlargened their positions tracking firm trend in spot market.

On the National Commodity and Derivatives Exchange, soybean for April delivery rose by Rs 46, or 1.33 per cent, to Rs 3,508 per quintal with an open interest of 1,18,640 lots.

Soybean for May delivery went up by Rs 56, or 1.62 per cent, to Rs 3,510 per quintal with an open interest of 67,060 lots.

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