Soybean futures traded higher on NCDEX on expectation of good physical buying due to good rally in edible oils. Soybean prices improved further as irregular monsoon and low price realization to farmers in the last season is discouraging sowing prospects for soybean in the country.
The contract for July delivery was trading at Rs 3011.00, up by 2.17% or Rs 64.00 from its previous closing of Rs 2947.00. The open interest of the contract stood at 36470 lots.
The contract for August delivery was trading at Rs 3086.00, up by 2.35% or Rs 71.00 from its previous closing of Rs 3015.00. The open interest of the contract stood at 70650 lots on NCDEX.