Soybean futures slip on muted demand

Soybean prices on Wednesday fell by Rs 27 to Rs 4,250 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 27, or 0.63 per cent, to Rs 4,250 per quintal with an open interest of 63,950 lots.

Soybean for January delivery declined by Rs 34, or 0.74 per cent, to Rs 4,256 per quintal with an open interest of 1,72,015 lots.

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