Soybean futures fall on weak spot demand

Soybean prices fell by Rs 31 to Rs 3,327 per quintal in futures trade Monday after participants cut down their bets, taking negative cues from the physical markets.

Marketmen said, a weak trend at the domestic spot markets due to slackness in demand following ample stocks position largely weighed on the soybean prices in futures trade here.

Besides, muted demand for Soybean attributed the fall in prices, they quoted.

At the National Commodity and Derivatives Exchange, soybean for October dipped by Rs 31, or 0.92 per cent, to Rs 3,327 per quintal, with an open interest of 52,340 lots.

In line with the general trend, soybean for November fell by Rs 20, or 0.59 per cent, to Rs 3,347 per quintal, with the business turnover of 85,900 open interest lots.