Soyabean down 1% on weak global cues
Market analysts attributed fall in soyabean prices at futures trade to offloading of positions by speculators, tracking a weak trend overseas
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Amid weak overseas cues, soyabean prices fell by Rs 39 at Rs 3,322 per quintal in futures market today as speculators reduced their exposures.
Market analysts attributed fall in soyabean prices at futures trade to offloading of positions by speculators, tracking a weak trend overseas.
Besides, weakness in edible oils at domestic spot markets weighed on prices, they said.
At the National Commodity and Derivatives Exchange counter, soybean prices for the delivery in far-month February contracts dropped by Rs 39, or 1.16%, to Rs 3,322 per quintal, clocking an open interest of 7,980 lots.
Similarly, most-active November month contracts fell by Rs 29, or 0.97%, at Rs 3,115 per quintal with an open interest of 79,430 lots, while October month contracts eased by Rs 28, or 0.86%, to Rs 3,242 per quintal, having an open interest of 75,340 lots.
Market analysts attributed fall in soyabean prices at futures trade to offloading of positions by speculators, tracking a weak trend overseas.
Besides, weakness in edible oils at domestic spot markets weighed on prices, they said.
At the National Commodity and Derivatives Exchange counter, soybean prices for the delivery in far-month February contracts dropped by Rs 39, or 1.16%, to Rs 3,322 per quintal, clocking an open interest of 7,980 lots.
Similarly, most-active November month contracts fell by Rs 29, or 0.97%, at Rs 3,115 per quintal with an open interest of 79,430 lots, while October month contracts eased by Rs 28, or 0.86%, to Rs 3,242 per quintal, having an open interest of 75,340 lots.
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First Published: Sep 02 2014 | 12:30 PM IST