Soybean futures slide on muted demand

Soybean prices on Wednesday fell 0.33 per cent to Rs 3,650 per quintal in futures market as participants cut down their positions on weak spot demand. On the National Commodity and Derivatives Exchange, soybean to be delivered in March contracts moved down by Rs 12, or 0.33 per cent, to Rs 3,650 per quintal with an open interest of 49,530 lots.

Soybean for delivery in April contracts also eased by Rs 28, or 0.78 per cent, to Rs 3,570 per quintal with an open interest of 1,27,655 lots. The fall in soybean prices in futures trade was mostly due to reduction of exposure by participants, marketmen said..