Soybean futures traded marginally higher on NCDEX as participants enlarged their positions on expectations of lower arrivals from the major producing belts in the spot market because of festival season in coming weeks. Soyabean improved further on reports that government is expected to step in for procurement of soybean in Maharashtra and Rajasthan to help farmers. Though, reports of lower meal exports in September, capped some gains.
The contract for October delivery was trading at Rs 2900.00, up by 0.94% or Rs 27.00 from its previous closing of Rs 2873.00. The open interest of the contract stood at 2010 lots.
The contract for November delivery was trading at Rs 2922.00, up by 0.41% or Rs 12.00 from its previous closing of Rs 2910.00. The open interest of the contract stood at 107570 lots on NCDEX.