Soybean futures drop as participants trim positions

Soybean futures drop as participants trim positions

NEW DELHI: Soybean prices on Friday fell by Rs 41 to Rs 6,990 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 June delivery fell Rs 41, or 0.51 per cent, to Rs 6,990 per quintal with an open interest of 59,880 lots.

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

Soybean for July delivery went down by Rs 52, or 0.78 per cent, to Rs 6,650 per quintal with an open interest of 14,255 lots.

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