Soybean futures slip on muted demand

Soybean prices on Tuesday fell by Rs 54 to Rs 4,401 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 December delivery eased by Rs 54, or 1.21 per cent, to Rs 4,401 per quintal with an open interest of 1,60,010 lots.

Soybean for January delivery declined by similar margins to Rs 4,410 per quintal with an open interest of 82,900 lots.

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