Soybean futures slump 3 pc on weak cues
Soybean prices on Monday fell by Rs 124 to Rs 4,014 per quintal in futures market as traders cut down their positions amid weak cues from physical markets.
On the National Commodity and Derivatives Exchange, soybean to be delivered in February contracts moved down by Rs 124, or 3 per cent, to Rs 4,014 per quintal with an open interest of 1,46,690 lots.
Soybean for delivery in March contracts also eased by Rs 122, or 2.95 per cent, to Rs 4,010 per quintal with an open interest of 1,19,060 lots.
The fall in soybean prices in futures trade was mostly due to reduction of exposure by participants, marketmen said.
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