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03-Sep2018

Soybean futures trade higher on NCDEX

Soybean futures traded higher on NCDEX, as speculators enlarged their positions on fresh demand in spot markets from millers. Further, projection of lower carryover stocks for the next season beginning October also supported the prices. However, some gains were capped in view of bumper crop during 2018-19 on the back of higher sowing and favourable weather conditions.

The contract for October delivery was trading at Rs 3247.00, up by 0.78% or Rs 25.00 from its previous closing of Rs 3222.00. The open interest of the contract stood at 58660 lots.

The contract for November delivery was trading at Rs 3258.00, up by 0.77% or Rs 25.00 from its previous closing of Rs 3233.00. The open interest of the contract stood at 40930 lots on NCDEX.

 


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