Soybean futures slip on muted demand

NEW DELHI, Oct 27 (The Economic Times): Soybean prices on Tuesday fell by Rs 35 to Rs 4,355 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 October delivery eased by Rs 35, or 0.8 per cent, to Rs 4,355 per quintal with an open interest of 83,345 lots.

Soybean for November delivery traded lower by Rs 33, or 0.75 per cent, to Rs 4,373 per quintal with an open interest of 63,230 lots.

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