Soybean prices on Wednesday fell by Rs 54 to Rs 4,220 per quintal in futures market as traders cut down their positions amid weak cues from physical markets.
On the National Commodity and Derivatives Exchange, soybean to be delivered in January contracts moved down by Rs 54, or 1.26 per cent, to Rs 4,220 per quintal with an open interest of 12,005 lots.
Soybean for delivery in February contracts also eased by Rs 24, or 0.56 per cent, to Rs 4,232 per quintal with an open interest of 1,99,485 lots.
The fall in soybean prices in futures trade was mostly due to reduction of exposure by participants, marketmen said.
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