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Soybean futures slip on weak global cues

Press Trust of India  |  New Delhi 

Soybean prices moved down Rs 54 to Rs 3,053 per quintal in futures trading today as participants offloaded positions in line with a weak trend in overseas markets.

At the National Commodity and Derivative Exchange, soybean for delivery for this month contracts fell by Rs 54 or 1.74 per cent at Rs 3,053 per quintal, having an open interest of 8,990 lots.

Second contract November month delivery also dropped Rs 3,089 per quintal, in an open interest of 1,20,540 lots.

Marketmen said reducing of exposure by speculators coupled with weak global cues, mainly attributed to the fall in soybean futures prices in futures trade.

Besides, weakness in edible oils too weighed on trading sentiments, they added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, October 13 2016. 12:13 IST