Soyabean futures decline on global cues

Soyabean prices plunged by Rs 65 to Rs 3,144 per quintal in futures trading today on selling by traders amid a weak global trend.

Market analysts said offloading of positions by traders in tandem with a weak global trend kept pressure on soyabean prices at futures trade.

At the National Commodity and Derivatives Exchange, soyabean prices for February contract dropped by Rs 65, or 1.75 per cent, to Rs 3,144 per quintal, having an open interest of 220 lots.

Current July contracts also lost Rs 43, or 1.11 per cent, to Rs 3,818 per quintal, with an open interest of 83,850 lots.