Soybean futures edge lower on global cues

Soybean prices fell by Rs 24 to Rs 3,788 per quintal in futures trade today on sprouting of selling at existing levels following downbeat overseas sentiment.
Market players said traders preferred to book profit at existing levels, in pressure of falling price overseas, which marked the downfall in soybean futures prices.
At the National Commodity and Derivative Exchange, soybean delivery for February contracts declined by Rs 24, or 0.63 per cent, to Rs 3,788 per quintal, with the business turnover of 12,040 lots.
The delivery for March contracts also followed suit, dropped by Rs 23, or 0.60 per cent, to Rs 3,809 per quintal in an open interest of 2,71,250 lots.