Soyabean futures trade lower on NCDEX

Soyabean futures edged lower on NCDEX as speculators reduced their positions driven by sluggish demand in the spot market. However, expectations of lower production after the reports of low and delayed monsoon, capped losses in soyabean prices to some extent. The contract for June delivery was trading at Rs 4415.00, down by 0.05% or Rs 2.00 from its previous closing of Rs 4417.00. The open interest of the contract stood at 82720 lots. The contract for July delivery was trading at Rs 4314.00, down by 0.39% or Rs 17.00 from its previous closing of Rs 4331.00. The open interest of the contract stood at 109030 lots on NCDEX.