Soybean futures drop 1.25 pc on global cues

Soybean prices dropped 1.25 per cent to Rs 3,251 per quintal in futures trade today as investors cut bets, taking subdued cues from global markets.

Marketmen said offloading of bets by participants in line with a weak trend in global markets led to the fall in soybean prices in futures trade here.

At the National Commodity and Derivatives Exchange, soybean for October contracts fell by Rs 41, or 1.25 per cent, to Rs 3,251 per quintal, clocking an open interest of 54,920 lots.

Soybean to be delivered in November too dropped by Rs 39, or 1.18 per cent, to Rs 3,255 per quintal, showing an open interest of 35,240 lots.