Soybean futures fall Rs 49 per quintal on weak global cues

Soybean prices dropped by Rs 49 to Rs 3,723 per quintal in futures trade today following off loading of positions by the speculators in sync with subdued global cues.

Marketmen said the fall in soybean prices at futures market was mostly attributed to cutting down of bets by participants in line with a weak trend at the overseas markets.

At the National Commodity and Derivatives Exchange, soybean delivery in far-month July dipped by Rs 49, or 1.30 per cent, to Rs 3,723 per quintal, with an open interest of 67,540 lots.

Also, the most-traded delivery in June slipped by Rs 48, or 1.28 per cent, to Rs 3,690 per quintal, with a business turnover of 1,30,680 open lots.