Soybean futures slip on muted demand

Soybean prices on Monday fell by Rs 77 to Rs 4,463 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 February delivery fell Rs 77, or 1.67 per cent, to Rs 4,463 per quintal with an open interest of 1,81,790 lots.

Soybean for March delivery went down by Rs 73, or 1.61 per cent, to Rs 4,451 per quintal with an open interest of 1,11,030 lots.

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