Soybean futures fall on weak demand

Soybean prices fell by Rs 8 to Rs 3,767 per quintal in futures trade Wednesday as traders cut down their positions amid weak cues from physical markets.

At the National Commodity and Derivatives Exchange, soybean to be delivered in June moved down by Rs 8, or 0.21 per cent, to Rs 3,767 per quintal with an open interest of 76,770 lots.

Soybean for delivery in July also eased by Rs 3, or 0.08 per cent, to Rs 3,810 per quintal with an open interest of 2,630 lots.

The fall in soybean prices at futures trade was mostly due to reduction of exposure by participants, marketmen said.