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Soybean futures surge on improved demand

27 Sep 2021 Evaluate

Soybean futures surged on NCDEX as speculators enlarged their positions amid improved demand at domestic spot markets. Meanwhile, investors will be focusing on production in the marketing year 2021-22 (October-September) as erratic rainfall during the sowing season affected yields.

The contract for October delivery was trading at Rs 5,984.00, up by 1.22% or Rs 72.00 from its previous closing of Rs 5,912.00. The open interest of the contract stood at 35,955 lots.

The contract for November delivery was trading at Rs 5,811.00, up by 1.68% or Rs 96.00 from its previous closing of Rs 5,715.00. The open interest of the contract stood at 30,320 lots on NCDEX.