Soyabean dips in futures trade on weak global cues

NEW DELHI: Amid weak overseas cues, soyabean prices fell by Rs 39 at Rs 3,322 per quintal in futures market today as speculators reduced their exposures.

Market analysts attributed fall in soyabean prices at futures trade to offloading of positions by speculators, tracking a weak trend overseas.

Besides, weakness in edible oils at domestic spot markets weighed on prices, they said.

At the National Commodity and Derivatives Exchange counter, soybean prices for the delivery in far-month February contracts dropped by Rs 39, or 1.16 per cent, to Rs 3,322 per quintal, clocking an open interest of 7,980 lots.

Similarly, most-active November month contracts fell by Rs 29, or 0.97 per cent, at Rs 3,115 per quintal with an open interest of 79,430 lots, while October month contracts eased by Rs 28, or 0.86 per cent, to Rs 3,242 per quintal, having an open interest of 75,340 lots.