Soybean futures drop by Rs 25 per quintal

Soybean prices were down by

Rs 25 to Rs 3,301 per quintal in futures trade Tuesday after traders cut down their positions amid weak global cues.

At the National Commodity and Derivatives Exchange, soybean to be delivered in November moved down by Rs 25 or 0.75 per cent to Rs 3,301 per quintal, revealing an open interest of 92,180 lots.

Soybean for delivery in October also lost Rs 15 or 0.45 per cent to Rs 3,288 per quintal, in an open interest of 49,300 lots.

Marketmen said the fall in soybean prices at futures trade was mostly due to reduction of exposure by participants, triggered by a weak trend overseas.

 

Besides, weakness at the physical markets kept pressure on the commodity prices, they added.