Soybean drop in futures trade amid low demand

Soybean prices on Tuesday fell by Rs 78 to Rs 3,652 per quintal in futures market as participants cut down their positions on weak spot demand.  On the National Commodity and Derivatives Exchange, soybean contracts for May delivery fell Rs 78, or 2.09 per cent, to Rs 3,652 per quintal with an open interest of 81,390 lots.  Soybean for June delivery went down by Rs 68, or 1.84 per cent, to Rs 3,626 per quintal with an open interest of 48,980 lots.  The fall in soybean prices in futures trade was mostly due to reduction of exposure by participants, marketmen said.