Soybean prices turned weak by Rs 32 to Rs 3,827 per quintal in futures trading today on cutting down of positions by the operators at prevailing levels amidst downbeat overseas sentiments.
Market players said profit taking by the participants in tune with falling prices overseas mainly described downfall in soybean futures prices.
Weakening demand of edible oils in spot markets too pulled down trading sentiments in soybean futures, they quoted.
At the National Commodity and Derivative Exchange platform, soybean delivery for the most active second contract April slackened by Rs 32 or 0.83 per cent to Rs 3,827 per quintal, with an open interest of 2,03,210 lots.
Likewise, the delivery of the first contract March eased by Rs 28 or 0.73 per cent to Rs 3,787 per quintal, clocking an open interest of 1,13,240 lots.
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