Soybean futures decline 0.45% on weak spot cues

Soybean prices were down 0.45 per cent at Rs 3,087 per quintal in futures trade today as participants cut bets amid weak trend in the physical markets.
Marketmen said a subdued trend in spot markets due to slackened demand amid increased supplies weighed on the prices.
At the National Commodity and Derivative Exchange, soybean for January contracts fell Rs 14, or 0.45 per cent, to Rs 3,087 per quintal, with an open interest of 2,31,460 lots.
Soybean for delivery in February contracts also eased Rs 14, or 0.44 per cent, to Rs 3,135 per quintal, depicting an open interest of 1,30,080 lots.