Soybean futures fall on muted global cues

Soybean prices surrendered Rs 27 to Rs 3,755 per quintal in futures trading today on trimming of portfolios by the participants dampened by the weak overseas sentiments.

According to market players, investors were reducing bets depressed by lower overseas market sentiment, which described the down turn in soybean futures prices.

Apart from, falling prices of edible oil also discouraged traders, kept away from the market, which also put weighed on soybean futures prices, they added.

At the National Commodity and Derivatives Exchange counter, soybean delivery for the first contract March slackened by Rs 27 or 0.71 per cent to Rs 3,755 er quintal, showing an open interest of 28,250 lots.

In a similar manner, the soybean deliver of the most traded near contract April month went down by Rs 24 or 0.63 per cent to Rs 3,772 per quintal, revealing an open interest of 2,44,550 lots.