News Analysis

Soybean futures decline on sluggish demand

Updated on 15 March 2019 04:24 PM

Soybean futures declined on NCDEX, as speculators trimmed their positions amid sluggish demand against ample supplies from the major producing belts. Further, lower soy meal exports figures too added pressure on soybean prices.

The contract for March delivery was trading at Rs 3613.00, down by 1.37% or Rs 50.00 from its previous closing of Rs 3663.00. The open interest of the contract stood at 480 lots.

The contract for April delivery was trading at Rs 3635.00, down by 0.87% or Rs 32.00 from its previous closing of Rs 3667.00. The open interest of the contract stood at 186960 lots on NCDEX.