Soybean futures dip on global cues

Soybean prices dipped by Rs 17 to Rs 3,412 per quintal in futures trade today with cut down in exposures, guided by pessimistic overseas leads.

Marketmen said operators were minimizing their holdings, driven by slackness in its prices overseas, which reflected down slide in soybean futures prices.

Apart from downbeat sentiments in edible oils prices too weighed on soybean prices, they said.

At the National Commodity and Derivatives Exchange platform, soybean delivery for the October shed by Rs 17 or 0.50 per cent to Rs 3,412 per quintal, in an open interest of 56,770 lots.

Also, the delivery of the November eased by same margins to Rs 3,392 per quintal, open interest stood of 22,960 lots.