Soybean futures rise on fresh bets

New Delhi, Feb 24 () Soybean prices on Monday rose by Rs 16 to Rs 3,886 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 0.41 per cent, to Rs 3,886 per quintal with an open interest of 1,36,720 lots.

Soybean for April delivery rose by Rs 16, or 0.42 per cent, to Rs 3,860 per quintal with an open interest of 1,08,775 lots.

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