Soybean futures slip on muted demand

New Delhi: Soybean prices on Tuesday fell by Rs 4 to Rs 3,860 per quintal in futures market as participants cut down their positions on weak spot demand. On the National Commodity and Derivatives Exchange, soybean contracts for September delivery fell Rs 4, or 0.1 per cent, to Rs 3,860 per quintal with an open interest of 4,255 lots.

Soybean for October delivery went down by Rs 28, or 0.7 per cent, to Rs 3,945 per quintal with an open interest of 42,530 lots.

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