Soybean futures slip on sluggish demand

New Delhi, Feb 17 () Soybean prices on Monday fell by Rs 50 to Rs 3,994 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 50, or 1.24 per cent, to Rs 3,994 per quintal with an open interest of 3,420 lots.

Soybean for delivery in March contracts also eased by Rs 16, or 0.41 per cent, to Rs 3,924 per quintal with an open interest of 1,43,425 lots.

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