Soybean futures slip on muted demand

New Delhi: Soybean prices on Tuesday fell by Rs 9 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 9, or 0.21 per cent, to Rs 4,297 per quintal with an open interest of 24,940 lots.

Soybean for December delivery went down by Rs 15, or 0.35 per cent, to Rs 4,306 per quintal with an open interest of 1,43,175 lots.

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