Soybean futures slip on muted demand

Soybean prices on Thursday fell Rs 14 to Rs 3,790 per quintal in the futures market as participants cut down on their positions due to weak spot demand.

On the National Commodity and Derivatives Exchange, soybean contracts for June delivery fell Rs 14, or 0.37 percent, to Rs 3,790 per quintal with an open interest of 78,340 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 10, or 0.27 percent, to Rs 3,728 per quintal with an open interest of 16,960 lots.