Soybean futures weaken on global cues

Soybean prices drifted lower by Rs 19 to Rs 3,180 per quintal in futures trade today after traders offloaded their holdings, tracking a weak trend overseas.

At the National Commodity and Derivatives Exchange, soybean to be delivered in November was trading lower by Rs 19 or 0.59 percent to Rs 3,180 per quintal, clocking an open interest of 40,300 lots.

Soybean for October delivery too eased by Rs 18 or 0.57 percent to Rs 3,164 per quintal, having an open interest of 59,480 lots.

Traders were cutting down holdings under pressure of weak global stance and declining trend in the spot markets, which kept the soybean prices lower in futures trade.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)