Soybean prices plunged by Rs 29 to Rs 2,806 per quintal in futures trade today as traders cut down their bets in line with weak overseas markets.
At the National Commodity and Derivatives Exchange, soybean for delivery this month dipped by Rs 29, or 1.02 per cent, to Rs 2,806 per quintal, with an open interest of 1,27,660 lots.
Also, April delivery slipped by Rs 29, or 0.99 per cent, to Rs 2,900 per quintal, open interest stood at 1,60,320 lots.
Marketmen said, fall in soybean prices at futures trade was mostly attributed to trimming of positions by participants in-tandem with a weak trend overseas and a weak trend at the domestic spot markets.
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