Agri commodities: Soybean, guar gum futures slip on muted demand

Soybean prices on Thursday fell by Rs 8 to Rs 3,776 per quintal in futures market as participants cut down their positions on weak spot demand.

On the National Commodity and Derivatives Exchange, soybean contracts for August delivery declined by Rs 8, or 0.21 per cent, to Rs 3,776 per quintal with an open interest of 26,435 lots.

Similarly, soybean for September delivery traded lower by Rs 12, or 0.32 per cent, to Rs 3,746 per quintal with an open interest of 16,520 lots.

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

Refined soya oil
Refined soya oil prices on Thursday rose by Rs 4.4 to Rs 859 per 10 kg in futures trade as speculators raised their bets.

On the National Commodity and Derivatives Exchange, refined soya oil for August delivery moved up by Rs 4.4, or 0.51 per cent, to Rs 859 per 10 kg in 18,910 lots.

Refined soya oil contracts for September delivery gained Rs 4.6, or 0.53 per cent, to Rs 864.6 per 10 kg in 20,445 lots.

Analysts said widening of positions by traders mainly helped refined soya oil prices to trade higher in the futures market.