Soybean futures edged marginally higher on NCDEX due to reports of lower production estimated by the government. Further, strong demand for soy oil too added support to soyabean prices’ uptrend.
The contract for February delivery was trading at Rs 3779.00, up by 0.61% or Rs 23.00 from its previous closing of Rs 3756.00. The open interest of the contract stood at 3920 lots.
The contract for March delivery was trading at Rs 3801.00, up by 0.05% or Rs 2.00 from its previous closing of Rs 3799.00. The open interest of the contract stood at 82930 lots on NCDEX.
(Source – http://money.livemint.com/news/commodity/commentary/soybean-futures-edge-higher-on-lower-production-428276.aspx#sthash.9FVjPJUV.dpuf)