Soybean futures slip on muted demand

Soybean prices on Tuesday fell by Rs 29 to Rs 4,254 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 29, or 0.68 per cent, to Rs 4,254 per quintal with an open interest of 78,690 lots.

Soybean for January delivery declined by Rs 27, or 0.63 per cent, to Rs 4,265 per quintal with an open interest of 1,60,535 lots.

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