Aug 31 2009 3:16PM
MUMBAI, Aug 31 (Reuters) - Indian soybean futures fell on Monday afternoon tracking losses in soybean on Chicago Board of Trade (CBOT) and expectation of good oilseed supplies following revival in rains in the growing regions, analysts said.
At 3:14 p.m., the October soybean contract on the National Commodity and Derivatives Exchange was down 1.1 percent at 2,155.5 rupees per 100 kg.
October soyoil futures fell 1.06 percent to 460.95 rupees per 10 kg.
Rains since last week and forecast of more rains in the growing states of Madhya Pradesh, Maharashtra, Andhra Pradesh and Gujarat have raised expectations of good crop later in the year, depressing spot demand.
Prices in the spot market in the central Indian city of Indore fell 0.92 percent to 21,500 rupees per tonne, while soyoil prices fell 0.69 percent 42,900 rupees per tonne.
November U.S. soybean futures on CBOT edged fell 1.83 percent to $9.92- a bushel during electronic trade on Monday.
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