Soyabean futures fell on global cues

Soyabean futures prices declined by Rs 30.50, or 1.47 per cent, to Rs 2,048.50 per quintal today, as speculators preferred to reduce their holdings, driven by weak overseas cues.

Marketmen said lower trends at global markets put pressure on traders to off-load their positions.

Rise in supply and weakness in demand of soymeal from export houses, too influenced the trading sentiments, they added.

At the National Commodity and Derivatives Exchange counter, soyabean prices for October-month contract shed by Rs 30.50, or 1.47 per cent, to Rs 2,048.50 per quintal, with an open interest of 97,900 lots.

Most-active November-month delivery too went down by Rs 25, or 1.19 per cent, to Rs 2,083 per quintal, with an open interest of 1,08,030 lots.