Soybean futures weaken on subdued global cues

Soybean prices fell by Rs 24 to Rs 3,708 per quintal in futures trade today as traders cut down their exposure in line with weak overseas cues.

Market players said trimming of positions by participants in tandem with a weak trend in global markets, led to decline in soybean prices at futures market here.

At the National Commodity and Derivatives Exchange, soybean delivery for delivery in June receded by Rs 24 or 0.64 per cent to Rs 3,708 per quintal, in an open interest of 93,780 lots.

Similarly, the delivery for the most-traded May slipped by Rs 21 or 0.57 per cent to Rs 3,648 per quintal, depicting an open interest of 1,51,330 lots.