Soybean futures slip on muted demand

New Delhi: Soybean prices on Tuesday fell by Rs 20 to Rs 4,089 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 fell Rs 20, or 0.49 per cent, to Rs 4,089 per quintal with an open interest of 8,175 lots.

Soybean for November delivery went down by Rs 14, or 0.46 per cent, to Rs 4,098 per quintal with an open interest of 87,950 lots.

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