Soyabean futures trade higher on strong demand

Soyabean futures traded higher on NCDEX as traders preferred to enlarge their holdings in line with higher global markets sentiment. Moreover, the strong demand from domestic soybean processors also influenced the commodity prices. The contract for May delivery was trading at Rs 4432.00, up by 0.75% or Rs 33.00 from its previous closing of Rs 4399.00. The open interest of the contract stood at 106930.00 lots. The contract for June delivery was trading at Rs 4411.00, up by 0.97% or Rs 42.50 from its previous closing of Rs 4368.50. The open interest of the contract stood at 67960.00 lots on NCDEX.