Soybean futures slump on weak domestic cues

Soybean prices on Friday fell by Rs 4 to Rs 4,232 per quintal in futures market as traders cut down their positions amid weak cues from physical markets.

On the National Commodity and Derivatives Exchange, soybean to be delivered in January contracts moved down by Rs 4, or 0.09 per cent, to Rs 4,232 per quintal with an open interest of 8,490 lots.

Soybean for delivery in February contracts also eased by Rs 26, or 0.62 per cent, to Rs 4,186 per quintal with an open interest of 1,92,375 lots.

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