Soybean futures dip on profit-booking

Soybean prices came down by Rs 12 to Rs 3,101 per quintal in futures trade today on profit selling by participants on weak domestic and global cues.

At the National Commodity and Derivative Exchange, soybean delivery for the most-traded November contract eased by Rs 12 or 0.39 per cent to Rs 3,101 per quintal, with an open interest of 57,100 lots.

Similarly, the delivery for the October contract lean down by Rs 9 or 0.29 per cent to Rs 3,080 per quintal, showing an open interest of 49,030 lots.

Market players said profit booking by operators, driven by weakness in prices at physical and overseas markets mainly, dragged down soybean prices in future trade here.