Soybean futures slip on muted demand

Soybean prices on Friday fell by Rs 24 to Rs 4,408 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 24, or 0.54 per cent, to Rs 4,408 per quintal with an open interest of 10,825 lots.

Soybean for December delivery went down by Rs 23, or 0.52 per cent, to Rs 4,403 per quintal with an open interest of 1,62,405 lots.

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