Soybean futures slip on muted demand

NEW DELHI: Soybean prices on Friday fell by Rs 29 to Rs 7,163 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 June delivery fell Rs 29, or 0.4 per cent, to Rs 7,163 per quintal with an open interest of 14,790 lots.

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

Soybean for July delivery went down by Rs 150, or 2.21 per cent, to Rs 6,630 per quintal with an open interest of 35,995 lots.