Soybean futures weaken on profit selling

Soybean prices came down by Rs 26 to Rs 2,849 per quintal in the futures trade on fresh liquidations by participants, tracking a muted trend at the physical markets.
Marketmen said offloading of positions at the spot markets at higher levels, led to the fall in soybean futures.
At the National Commodity and Derivative Exchange, soybean for the most-traded delivery in December dropped by Rs 26 or 0.90 per cent to Rs 2,894 per quintal, with the business turnover of 1,74,050 open lots.
Likewise, the delivery in November declined by Rs 24 or 0.85 percent to Rs 2,801 per quintal, open interest stood of 25,090 lots.