Soybean futures decline on tepid demand

New Delhi, Jan 24 () Soybean prices on Friday fell by Rs 20 to Rs 4,122 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 20, or 0.48 per cent, to Rs 4,122 per quintal with an open interest of 1,58,515 lots.

Soybean for delivery in March contracts also eased by Rs 26, or 0.63 per cent, to Rs 4,112 per quintal with an open interest of 1,15,735 lots.

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