Soybean futures traded higher on NCDEX, as speculators enlarged their position on account of good demand in the spot market. Soybeans prices are also supported by expectations that the United States will boost its share of the soymeal export market due to harvest shortfalls in Argentina.
The contract for May delivery was trading at Rs 3657.00, up by 0.97% or Rs 35.00 from its previous closing of Rs 3622.00. The open interest of the contract stood at 160020 lots.
The contract for June delivery was trading at Rs 3717.00, up by 1.03% or Rs 38.00 from its previous closing of Rs 3679.00. The open interest of the contract stood at 87930 lots on NCDEX.