Soybean futures slump over 1 pc on soft demand

New Delhi: Soybean prices on Thursday fell by Rs 43 to Rs 3,969 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 November contracts moved down by Rs 43, or 1.07 per cent, to Rs 3,969 per quintal with an open interest of 17,740 lots.

The fall in soybean prices was mostly due to reduction of exposure by participants, analysts said.