Soybean prices softened by Rs 17 to Rs 3,482 per quintal in futures trade today as speculators were offloading holdings in line with subdued overseas leads.
According to market players, traders were indulged in cutting down their holdings, tracking lower global markets cues, which led to the downfall in soybean futures prices.
At the National Commodity and Derivatives Exchange counter, soybean delivery for June dropped by Rs 17 or 0.49 per cent to Rs 3,482 per quintal, with an open interest of 60,920 lots.
Similarly, the delivery of the most traded July eased by Rs 12 or 0.34 per cent to Rs 3,499 per quintal, having an open interest of 1,00,870 lots.
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