Soyabean futures traded lower on NCDEX as speculators trimmed their positions on reports of higher edible oil imports and lower export demand for soymeal. Soyabean weakened further tracking reports of better production and yield due to good monsoon in the country. But, forecast of heavy rains in Madhya Pradesh, capped some losses in soyabean prices.
The contract for October delivery was trading at Rs 3447, down by 0.75% or Rs 26.00 from its previous closing of Rs 3473. The open interest of the contract stood at 59620 lots.
The contract for November delivery was trading at Rs 3445, down by 0.61% or Rs 21.00 from its previous close of Rs 3466. The open interest of the contract stood at 56270 lots on NCDEX.