Soybean futures ease on muted global cues

Soybean prices were down by Rs 16 to Rs 2,911 per quintal in futures trading today after speculators liquidated their holdings, tracking a weak trend overseas.
Marketmen said weakness in global markets mainly weighed on soybean prices in futures trading here.
Besides, a lower trend in edible oils prices also dampened trading sentiments, they added.
At the National Commodity and Derivative Exchange, soybean delivery for most-active May contracts was trading lower by Rs 16 or 0.55 per cent to Rs 2,911 per quintal, clocking an open interest of 1,19,410 lots.
Also, the April contract of soybean fell by Rs 11 or 0.39 per cent to Rs 2,828 per quintal, with the business turnover of 69,860 lots.