Soybean futures plummet on sluggish demand

Soybean prices fell by Rs 4 at Rs 3,748 per quintal in futures trade on Friday amid sluggish demand as investors off-loaded their holdings. On the National Commodity and Derivatives Exchange, soybean delivery for November slipped by Rs 4, or 0.11 per cent, at Rs 3,748 per quintal in 76,420 lots.

Soybean contracts for December delivery fell by Rs 5, or 0.13 per cent, at Rs 3,779 per quintal in 62,370 lots. Analyst said prices of soybean futures fell due to tepid demand and sell-off by participants.