Soybean futures dip on soft demand

Soybean prices on Thursday fell by Rs 2 to Rs 4,124 per quintal in futures market as traders cut down their positions amid weak cues from physical markets.

On the National Commodity and Derivatives Exchange, soybean to be delivered in December contracts moved down by Rs 2, or 0.05 per cent, to Rs 4,124 per quintal with an open interest of 52,450 lots.

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