Soybean futures slip on muted demand

Soybean prices on Wednesday fell by Rs 10 to Rs 3,788 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 June delivery fell Rs 10, or 0.26 percent, to Rs 3,788 per quintal with an open interest of 78,125 lots.

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

However, Soybean for July delivery went up by Rs 24, or 0.64 percent, to Rs 3,730 per quintal with an open interest of 16,290 lots.