Soybean goes down in futures trade on weak global cues

Soybean prices were trading down by Rs 38 to Rs 2,974 per quintal in futures trading today following trimming of positions by operators in line with weak overseas sentiments.

Marketmen said weak trend in global markets triggered offloading of positions by participants, leading to a fall in soybean prices in futures trade here.

Besides, muted spot demand and mounting stocks on persistent arrivals from growing regions, negatively impacted sentiments, they added.

At the National Commodity and Derivatives Exchange, soybean for delivery in August dipped by Rs 38, or 1.26 per cent, to Rs 2,974 per quintal, open interest stood at 69,600 lots.

Likewise, the delivery for October fell Rs 38, or 1.21 per cent, to Rs 3,091 per quintal, in a business turnover of 28,020 open lots.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)