Soybean futures slip on muted demand

Soybean prices on Monday fell by Rs 30 to Rs 4,348 per quintal in futures market as participants cut down their positions on weak spot demand. The fall in soybean prices in futures trade was mostly due to reduction of exposure by participants, marketmen said.

Soybean prices on Monday fell by Rs 30 to Rs 4,348 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 December delivery fell Rs 30, or 0.67 per cent, to Rs 4,348 per quintal with an open interest of 91,830 lots.

Soybean for January delivery went down by Rs 34, or 0.77 per cent, to Rs 4,354 per quintal with an open interest of 1,51,335 lots. The fall in soybean prices in futures trade was mostly due to reduction of exposure by participants, marketmen said.