India soybean falls on higher domestic acreage

Aug 11 2009 2:41PM

MUMBAI, Aug 11 (Reuters) - Indian soybean futures fell in afternoon trade on Tuesday on higher domestic acreage under the crop and tracking overnight losses in U.S. soybean, analysts said.

Indian farmers so far have planted soybean 9.37 million hectares compared with 9.13 million in the corresponding period of the previous year, government data showed late on Monday. See

"Sowing of soybean is more or less completed and acreage is slightly higher than last year," Karvy Comtrade Ltd said in broker note.

New-crop U.S. soybean futures fell 2 percent on Monday as investors positioned themselves ahead of a keenly-awaited government report that should show a bumper crop. See [ID:nLA218911]

At 2:31 p.m, August soybean contract on the National Commodity and Derivatives Exchange was down 1.16 percent at 2,350 rupees per 100