Soyabean futures fall on weak global cues

Soyabean prices drifted by Rs 31 to Rs 2,034.50 per quintal in futures trading today on selling by speculators, in line with weak global sentiment.

Marketmen said increased supply and reduced offtake in physical markets due to lower international markets cue, which led to a fall in soyabean prices.

At the National Commodity and Derivatives Exchange counter, soyabean prices for near November-month contract slipped by Rs 31, or 1.50 per cent, to Rs 2,034.50 per quintal, with an open interest of 1,11,610 lots.

October month delivery too declined by Rs 22.50, or 1.11 per cent, to Rs 2,010.50 per quintal, with an open interest of 97,560 lots.