Soybean futures ease on global cue

Soybean prices lost Rs 21 to Rs 2,790 per quintal in futures trade today after participants reduced positions in the wake of subdued overseas market.

Market players said fall in its prices at international markets due to bumper crop mainly dampened trading sentiments here in the futures market.

At the National Commodity and Derivative Exchange, soybean for delivery in July month dropped by Rs 21 or 0.75 per cent to Rs 2,790 per quintal, revealing an open interest of 82,770 lots.

Soybean to be delivered in August month contracts also moved down by Rs 21 or 0.73 per cent to Rs 2,855 per quintal, depicting an open interest of 45,770 lots.