Soybean futures dip on low demand

New Delhi, Jan 21 () Soybean prices on Tuesday fell by Rs 30 to Rs 4,204 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 30, or 0.71 per cent, to Rs 4,204 per quintal with an open interest of 1,83,940 lots.

Soybean for delivery in March contracts also eased by Rs 28, or 0.66 per cent, to Rs 4,214 per quintal with an open interest of 1,10,975 lots.

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