Soybean futures strengthen on spot demand

New Delhi, Mar 5 () Soybean prices on Thursday rose by Rs 38 to Rs 3,786 per quintal in futures market as traders created fresh positions tracking positive spot demand.

On the National Commodity and Derivatives Exchange, soybean for March delivery rose by Rs 38, or 1.02 per cent, to Rs 3,786 per quintal with an open interest of 80,835 lots.

Soybean for April delivery went up by Rs 39 to Rs 3,763 per quintal with an open interest of 1,15,975 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