Soybean futures slip on muted demand

Soybean prices on Tuesday fell by Rs 84 to Rs 4,032 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 September delivery declined by Rs 84, or 2.04 per cent, to Rs 4,032 per quintal with an open interest of 29,880 lots.

Similarly, soybean for October delivery decreased by Rs 66, or 1.63 per cent, to Rs 3,988 per quintal with an open interest of 35,555 lots.

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