Soyabean dips further on renewed selling

Soyabean prices extended losses by losing Rs 32.50 to Rs 2,549 per quintal in futures trading today, following renewed selling by traders, driven by a weak global cue.

Marketmen said continuous selling by traders, tracking lower overseas markets sentiment, led to the decline in soyabean futures prices.

At the National Commodity and Derivatives Exchange, soyabean prices for January delivery lost Rs 32.50, or 1.26%, to Rs 2,549 per quintal, with an open interest of 1,32,640 lots.

The February contract shed Rs 24, or 0.92%, to Rs 2,583 per quintal, with an open interest of 248,720 lots.