Soyabean futures remain weak on lower demand

Soyabean prices traded lower by Rs 6 or 0.32 per cent to Rs 1,864 per quintal in futures trade on renewed selling by traders and weak exports demand against increased supply in spot markets.

According to marketmen, most of traders preferred to reduce their holdings, on lower overseas advices and less demand from the exporting units.

Increased supplies from the producing regions, sluggish demand in spot markets also influenced the trading sentiment, they added.

At the National Commodity and Derivatives Exchange counter, soyabean delivery for November-month contract shed by Rs 6 or 0.32 per cent to Rs 1,864 per quintal, with an open interest of 1,480 lots.

Soyabean delivery for current June-month contract also dipped by Rs 4.50 or 0.23 per cent at Rs 1,946.50 per quintal, with an open interest of 38,430 lots.