Soybean futures slip on muted demand

Soybean prices on Wednesday fell by Rs 75 to Rs 4,550 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 January delivery declined by Rs 75, or 1.62 per cent, to Rs 4,550 per quintal with an open interest of 980 lots.

Soybean for February delivery eased by Rs 67, or 1.45 per cent, to Rs 4,544 per quintal with an open interest of 1,98,710 lots.

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

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