Soyabean futures trade higher on better buying support

Soyabean futures traded higher on NCDEX on better buying support against poor arrivals from the major producing belts. But, some gains were capped by the speculation that a US government report this week will show record global production and ample stockpiles. The contract for May delivery was trading at Rs 4737.00, up by 0.30% or Rs 14.00 from its previous closing of Rs 4723.00. The open interest of the contract stood at 56930 lots. The contract for June delivery was trading at Rs 4760.00, up by 0.42% or Rs 20.00 from its previous closing of Rs 4740.00. The open interest of the contract stood at 119500 lots on NCDEX.