Soybean futures slip on muted demand

Soybean prices on Thursday fell by Rs 6 to Rs 4,568 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 6, or 0.13 per cent, to Rs 4,568 per quintal with an open interest of 1,58,975 lots.

Soybean for March delivery went down by Rs 7, or 0.15 per cent, to Rs 4,551 per quintal with an open interest of 1,29,540 lots.

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