Soyabean futures edge lower on weak demand

Soyabean futures edged lower on NCDEX due to weak demand and ample stocks in the spot market. However, a government report showed increased overseas demand for supplies from the biggest grower US, capped some losses in soyabean prices to some extent. The contract for May delivery was trading at Rs 4781.00, down by 1.11% or Rs 53.50 from its previous closing of Rs 4834.50. The open interest of the contract stood at 75570 lots. The contract for June delivery was trading at Rs 4776.50, down by 1.20% or Rs 58.00 from its previous closing of Rs 4834.50. The open interest of the contract stood at 98710 lots on NCDEX.