Soybean futures slip on low demand

New Delhi: Soybean prices on Wednesday fell by Rs 40 to Rs 3,856 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 September delivery fell Rs 40, or 1.03 per cent, to Rs 3,856 per quintal with an open interest of 3,610 lots.

Soybean for October delivery went down by Rs 47, or 1.19 per cent, to Rs 3,905 per quintal with an open interest of 43,695 lots.

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