Soybean futures decline on sluggish demand

New Delhi, Feb 6 () Soybean prices on Thursday fell by Rs 6 to Rs 4,166 per quintal in futures market as traders cut down their positions amid weak cues from physical markets.

On the National Commodity and Derivatives Exchange, soybean to be delivered in February contracts moved down by Rs 6, or 0.14 per cent, to Rs 4,166 per quintal with an open interest of 70,860 lots.

Soybean for delivery in March contracts also eased by Rs 8, or 0.19 per cent, to Rs 4,176 per quintal with an open interest of 1,35,125 lots.

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