Soybean futures traded marginally higher on NCDEX as speculators enlarged their positions amid reports that government is expected to step in for procurement of soybean in Maharashtra and Rajasthan to help farmers. Furthermore, lower acreage in the country and improved prices of edible oil also supported soybean prices. However, expectation of higher arrivals of new season crop and higher stocks from last year, capped some gains.
The contract for November delivery was trading at Rs 2884.00, up by 0.59% or Rs 17.00 from its previous closing of Rs 2867.00. The open interest of the contract stood at 95870 lots.
The contract for December delivery was trading at Rs 2934.00, up by 0.62% or Rs 18.00 from its previous closing of Rs 2916.00. The open interest of the contract stood at 62830 lots on NCDEX.