Soybean futures slip on weak global cues
Soybean prices rolled down by Rs 38 to Rs 2,863 per quintal in futures trade today on trimming of holdings by the participants amidst subdued overseas trend.
According to market players, trimming of positions by operators largely in sync with downbeat sentiments overseas, led to fall in soybean prices in futures trade here.
Besides, reduced offtake by meal extractors in view of muted demand from animal feed makers in spot also weighed on prices, they quoted.
At the National Commodity and Derivative Exchange, soybean for the most-traded delivery in December declined by Rs 30 or 1.04 per cent to Rs 2,863 per quintal, revealing an open interest of 1,38,480 lots.
The delivery for the immediate November also receded by Rs 28 or 0.98 percent to Rs 2,815 per quintal, having an open interest of 52,880 lots.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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