Aug 28 2009 10:33AM
MUMBAI, Aug 28 (Reuters) - Indian soybean futures fell for a sixth day in a row on Friday on expectations of a bumper crop in U.S, the largest producer, and rains in the growing states in India, analysts said.
However, a firm Malaysian palm oil limited the losses.
At 10:26 a.m., the October soybean contract on the National Commodity and Derivatives Exchange fell 0.43 percent to 2,179.5 rupees per 100 kg. October soyoil futures was down 0.24 percent at 466.05 rypees per 10 kg.
Rainfall in Madhya Pradesh, Maharashtra and Gujarat, country's top three oilseeds producers, have boosted crop prospects and subdued prices.
The benchmark November palm oil futures on Bursa Malaysia Derivatives Exchange was up 0.81 percent at 2,365 ringgit a tonne, at 10:00 a.m.
Palm oil and soybean are related commodities and their prices often move in tandem. (Reporting by Abhishek Shanker; Editing by Ramya Venugopal) ((abhishek
No comments:
Post a Comment