Soybean futures recoup on upbeat global cues

NEW DELHI, May 9: Soybean prices rose by Rs 21 at Rs 3,728 per quintal in futures trade today as traders opted to build up fresh positions, tracking upbeat overseas leads.
Market players said rising prices of soybean in overseas markets encouraged traders to build up new positions, which  reflected uptick in soybean futures prices.
Besides, uptrend in edible oils prices also boosted trading sentiment in soybean futures prices, they said.
At the National Commodity and Derivatives Exchange, soybean delivery for the most traded June month gained Rs 21 or 0.57 per cent to Rs 3,728 per quintal, with a business turnover of 1,29,950 lots.
Likewise, the delivery May advanced by Rs 18 or 0.49 per cent to Rs 3,674 per quintal, revealing an open interest of 83,160 lots. (PTI)