Soybean futures surge on global cues

New delhi: Soybean prices were trading higher by Rs 37 to Rs 3,030 per quintal in futures trading today after speculators created positions, tracking a firm trend overseas.

At the National Commodity and Derivatives Exchange, soybean for delivery in January spurted Rs 37, or 1.24 per cent, to Rs 3,030 per quintal, with an open interest of 17,210 lots.

In a similar manner, the most-active delivery in February rose by Rs 35, or 1.15 per cent, to Rs 3,076 per quintal, having an open interest of 1,48,770 lots.

Marketmen said, reports of a firm trend in global market mainly influenced soybean futures as participants created positions.

Besides, firm trend in spot markets also supported the upside in soybean futures, they added.