Soybean futures slip on muted demand

New Delhi: Soybean prices on Tuesday fell by Rs 23 to Rs 3,962 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 October delivery eased by Rs 23, or 0.58 per cent, to Rs 3,962 per quintal with an open interest of 38,520 lots.

Soybean for November delivery declined by Rs 26, or 0.65 per cent, to Rs 3,947 per quintal with an open interest of 41,520 lots.

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