Soybean futures slip on muted demand

Soybean prices on Tuesday fell by Rs 56 to Rs 4,671 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 January delivery declined by Rs 56, or 1.18 per cent, to Rs 4,671 per quintal with an open interest of 2,540 lots.

Soybean for February delivery eased by Rs 37, or 0.79 per cent, to Rs 4,662 per quintal with an open interest of 2,07,555 lots.


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