Soybean futures decline on weak global cues

NEW DELHI: Tracking weak global cues, soybean prices slipped by Rs 41 to Rs 3,764 per quintal in futures trade today.

At the National Commodity and Derivatives Exchange, soybean for delivery in June contracts dropped by Rs 41, or 1.08 per cent to Rs 3,764 per quintal, with an open interest of 12,350 lots.

Moreover, soybean for delivery in August declined by Rs 39, or 1.05 per cent to Rs 3,680 per quintal and open interest stood at 62,840 lots.

Marketmen said offloading of positions by participants tracking a weak trend overseas, mainly weighed on the soybean prices here.

Besides, higher supplies against sluggish demand dampened the trading mood, they said.