Soybean futures slip on muted demand

Soybean prices on Thursday declined by Rs 17 to Rs 4,393 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 fell by Rs 17, or 0.39 per cent, to Rs 4,393 per quintal with an open interest of 1,44,760 lots.

Soybean for January delivery eased by Rs 18, or 0.41 per cent, to Rs 4,398 per quintal with an open interest of 1,04,060 lots.

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