Aug 31 2009 11:12AM
MUMBAI, Aug 31 (Reuters) - Indian soybean futures extended losses for eighth session on Monday tracking losses in soybean on Chicago Board of Trade (CBOT) and expectation of good crop following revival in rains in the growing regions, analysts said.
At 10:55 a.m., the October soybean contract on the National Commodity and Derivatives Exchange fell 1.24 percent to 2,152.5 rupees per 100 kg, extending the 4.4 percent loss of the last seven sessions.
October soyoil futures was down 0.6 percent at 463.1 rypees per 10 kg.
Most of the oilseeds growing states like Madhya pradesh, Maharashtra, Andhra Pradesh, Karnataka and Gujarat have received rainfall last week and are likely to get more rainfall this week.
November U.S. soybean futures on CBOT edged fell 1.68 percent to $9.94 a bushel during electronic trade.
The Malaysian palm oil futures were closed on account of a holiday.
Palm oil and soybean are related commodities and their prices often move in tandem.
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