Soyabean futures continued to rise on firm overseas markets despite rain lashing the growing areas in Madhya Pradesh.

August futures rose by Rs 125 to Rs 4,675 a quintal as traders also raised positions.

Rain over some key growing regions of the US MidWest eased concerns of further damage to new supplies, but it still kept sentiment buoyant.

A pick-up in domestic demand ahead of the festival season and rising demand for soyameal exports boosted trading sentiments, traders said.

On the National Commodity and Derivatives Exchange, soyabean for October delivery jumped by Rs 21 to close at Rs 3,969.5, while November contracts were up Rs 6 at Rs 3,836 a quintal.

In the spot market at Indore (Madhya Pradesh), soya was quoted at Rs 4,564 a quintal.

On the Chicago Board Of Trade, November soyabean rose 0.4 per cent to $15.90-1/4 a bushel, having closed down 2.7 per cent in the previous session.

(This article was published on August 7, 2012)
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