Soybean futures slip on soft demand

New Delhi, Feb 7 () Soybean prices on Friday fell by Rs 12 to Rs 4,108 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 12, or 0.29 per cent, to Rs 4,108 per quintal with an open interest of 57,460 lots.

Soybean for delivery in March contracts also eased by Rs 20, or 0.48 per cent, to Rs 4,106 per quintal with an open interest of 1,45,180 lots.

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