Soyabean prices slipped by Rs 77 to Rs 3,745 per quintal in futures trading today on immense selling by investors tracking weak global market sentiment.
Market players attributed the steep fall in soyabean futures prices to a weakening trend overseas.
Besides, a falling trend in other edible oils segments pulled down the trading sentiment in soyabean futures, they quoted.
At the National Commodity and Derivative Exchange platform, soyabean delivery for the most active near contract April month plunged by Rs 77 or 2.01 per cent to Rs 3,745 per quintal, depicting a business turnover of 2,52,110 open lots.
Similarly, the delivery of immediate contract March month went down by Rs 65 or 1.72 per cent to Rs 3,720 per quintal, having an open interest of 61,020 lots.
Chana prices slipped 2.10 per cent to Rs 3,721 per quintal in futures trade today as participants reduced exposure following subdued demand at the spot market.
Profit-booking at existing higher levels also weighed on the sentiment.
At the National Commodity and Derivatives Exchange, chana for delivery in the current month contract declined by Rs 80, or 2.10 per cent, to Rs 3,721 per quintal, with an open interest of 31,250 lots.
The commodity for delivery in far-month April fell by Rs 72, or 1.92 per cent, to trade at Rs 3,666 per quintal with an open interest of 80,960 lots.
Analysts attributed the fall in chana futures to offloading of positions by traders, taking negative leads from physical markets due to tepid demand against sufficient stocks position.
Crude palm oil
Crude palm oil prices declined by 0.47 per cent to Rs 637.50 per 10 kg in futures market today as speculators reduced exposure, taking negative cues from the spot market on subdued demand.
Besides, sufficient stocks position following higher supplies from the producing belts too fuelled the downtrend.
Likewise, the oil for delivery in April was trading lower by Rs 2.40, or 0.37 per cent, to Rs 643.60 per 10 kg in 290 lots.
Analysts said cutting down of positions by participants owing to muted demand in the physical market against adequate stocks position on higher supplies from producing producing belts mainly led to the decline in crude palm oil prices at futures trade.
Jeera prices fell 2.33 per cent, or Rs 340, to trade at Rs 14,250 per quintal in futures market today as speculators cut bets to book profits at prevailing levels amid muted domestic and exports demand.
Furthermore, ample stocks position following higher arrivals in Gujarat, fuelled the downtrend.
At the National Commodity and Derivatives Exchange, jeera for the current month contract fell Rs 340, or 2.33 per cent, to trade at Rs 14,250 per quintal with an open interest of 4,950 lots.
Similarly, the spice for delivery in April contract moved down by Rs 180, or 1.20 per cent, to Rs 14,815 per quintal in 8,079 lots.
Analysts said besides profit-booking by speculators at existing levels, fall in demand at the spot market against adequate stocks position, kept pressure on jeera futures.