Soybean futures slip on muted demand

Soybean prices on Wednesday fell by Rs 11 to Rs 6,424 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 April delivery fell Rs 11, or 0.17 per cent, to Rs 6,424 per quintal with an open interest of 40,045 lots.

The fall in soybean prices in futures trade was mostly due to reduction of exposure by participants, marketmen said.

Soybean for May delivery went up by Rs 9, or 0.14 per cent, to Rs 6,369 per quintal with an open interest of 1,04,050 lots. PTI SRS SHW SHW