Soyabean futures fall on fresh weak global cues

Soyabean futures prices declined by Rs 34.50 to Rs 2,212.50 per quintal today, as traders preferred to reduced holdings, guided by weak overseas cue.

Marketmen said lower global markets trend put pressure on traders to offload their positions.

Rise in supply and weakness in demand of soymeal from export houses, too, influenced trading sentiments, they added.

At the National Commodity and Derivatives Exchange counter, soyabean price for November contract dipped by Rs 34.50, or 1.54 per cent, to Rs 2,212.50 per quintal, with an open interest of 1,04,710 lots.

December-month delivery, too, went down by Rs 35, or 1.53 per cent, to Rs 2,253 per quintal, with an open interest of 1,66,180 lots.