Soybean edges lower in futures trade on weak global cues

Soybean prices went down by

Rs 45 to Rs 3,736 per quintal in futures trade today as participants reduced their exposure largely in sync with a weak trend overseas.

At the National Commodity and Derivatives Exchange, soybean for delivery in June contracts rolled down by Rs 45, to Rs 3,736 per quintal, with a business turnover of 86,570 lots.

Soybean for the most-active delivery in May too lost Rs 44 per cent to Rs 3,678 per quintal, clocking an open interest of 1,73,380 lots.

Market players attributed the decline in soybean futures prices to a weak trend in the global markets.

Besides, weakness in edible oils too weighed on prices, they said.