Soybean futures slip Rs 116 per quintal on global cues

Soybean futures traded lower by Rs 116 at Rs 3,808 per quintal today after participants trimmed their positions, tracking a weak trend overseas.
Besides, pick-up in supplies in the physical markets from growing regions and slackened demand also weighed on sentiments.
At the National Commodity and Derivatives Exchange, soybean for delivery in January next year contracts was trading down by Rs 116 or 2.96 per cent to Rs 3,808 per quintal with an open interest of 50 lots.
The commodity for delivery this month too dropped by Rs 64 or 1.67 per cent to Rs 3,770 per quintal in an open interest of 2,430 lots.

Marketmen said reduction of exposure by participants amid weak overseas and ample availability of stocks in the spot market on higher arrivals, weighed on soybean futures.
Soybean for delivery in July also traded lower by Rs 62 or 1.59 per cent to Rs 3,828 per quintal, clocking an open interest of 83,970 lots.