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Soybean futures trade higher on strong demand

Soybean futures traded higher on NCDEX as speculators enlarged their bets amid strong demand at the domestic spot market. Soybean prices improved further by tracking higher prices at overseas amid expectations of renewed Chinese buying supporting prices.

The contract for November delivery was trading at Rs 3743.00, up by 0.7% or Rs 26.00 from its previous closing of Rs 3717.00. The open interest of the contract stood at 80830 lots.

The contract for December delivery was trading at Rs 3761.00, up by 0.48% or Rs 18.00 from its previous closing of Rs 3743.00. The open interest of the contract stood at 69970 lots on NCDEX.