Soybean futures rise on spot demand

New Delhi, Jan 29 () Soybean prices on Wednesday rose by Rs 44 to Rs 4,078 per quintal in futures market as traders created fresh positions on strong spot demand.

On the National Commodity and Derivatives Exchange, soybean for February delivery rose by Rs 44, or 1.09 per cent, to Rs 4,078 per quintal with an open interest of 1,17,620 lots.

Soybean for March delivery rose by Rs 36, or 0.89 per cent, to Rs 4,064 per quintal with an open interest of 1,23,075 lots.

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