Soybean futures slip on muted demand

Soybean prices on Monday fell by Rs 30 to Rs 3,906 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 April delivery fell Rs 30, or 0.76 per cent, to Rs 3,906 per quintal with an open interest of 11,280 lots.

Soybean for May delivery also eased by Rs 64, or 1.68 per cent, to Rs 3,738 per quintal with an open interest of 83,740 lots.

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