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Soybean futures trade lower on profit booking

Soybean futures traded lower on NCDEX as speculators booked profits, after prices rallied on expectation of better demand for crushing from oil mills as government is planning to hike import duties of soft oil - soy oil, rapeoil and sunflower oil.

The contract for June delivery was trading at Rs 3747.00, down by 0.5% or Rs 19.00 from its previous closing of Rs 3766.00. The open interest of the contract stood at 136740 lots.

The contract for July delivery was trading at Rs 3780.00, down by 0.55% or Rs 21.00 from its previous closing of Rs 3801.00. The open interest of the contract stood at 65160 lots on NCDEX.

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