Tuesday, July 21, 2009

India soybean falls as sowing, Malaysia weighs


Jul 21 2009 10:51AM


MUMBAI, July 21 (Reuters) - Indian soybean and soyoil futures eased on Tuesday tracking oilseeds sowing, which is likely to end later this week, analysts said.

Losses in overseas markets and expectation of record edible oils imports also weighed, analysts said.

At 10:43 a.m, the August soybean contract on the National Commodity and Derivatives Exchange fell 0.89 percent to 2,276 rupees per 100 kg, while August soyoil futures was down 0.65 percent at 459.35 rupees per 10 kg.

India may import a record 8 million tonnes of vegetable oil in the year ending Oct 2009, the Solvent Extractors' Association said last week.

The benchmark October palm oil futures on Bursa Malaysia Derivatives Exchange was down 0.46 percent at 2,150 ringgit a tonne at 10:44 a.m.

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