Soybean futures slip on muted demand

New Delhi: Soybean prices on Monday fell by Rs 18 to Rs 4,297 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 18, or 0.42 per cent, to Rs 4,297 per quintal with an open interest of 36,990 lots.

Soybean for December delivery went down by Rs 23, or 0.53 per cent, to Rs 4,320 per quintal with an open interest of 1,34,720 lots.

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