Soybean futures drop on weak global cues

Soybean prices drifted lower by Rs 25 to Rs 3,755 per quintal in futures trade today after speculators liquidated positions, taking weak cues from the global markets.

At the National Commodity and Derivatives Exchange, soybean for the most-active delivery in June declined by Rs 25 or 0.66 per cent to Rs 3,755 per quintal, revealing an open interest of 1,49,990 lots.

Also, the delivery of May faded by Rs 23 or 0.62 per cent to Rs 3,700 per quintal, in an open interest of 48,570 lots.

Market players off-loading of bets by participants in tandem with a weak trend overseas, mainly pulled down soybean prices at futures trade here.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)