Soybean futures slip on muted demand

New Delhi: Soybean prices on Wednesday fell by Rs 48 to Rs 4,280 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 November delivery fell Rs 48, or 1.11 per cent, to Rs 4,280 per quintal with an open interest of 82,925 lots.

Soybean for December delivery went down by Rs 39, or 0.9 per cent, to Rs 4,295 per quintal with an open interest of 68,720 lots.

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