Aug 17 2009 10:19AM
MUMBAI, Aug 17 (Reuters) - Indian soybean futures are likely to open lower on Monday on higher acreage and weakness in Malaysian palm, but scanty rains may limit the losses, analysts said.
Indian farmers so far have planted soybean on 9.37 million hectares, compared with 9.13 million in the corresponding period last year, government data showed late week.
The September soybean contract on the National Commodity and Derivatives Exchange last ended at 2,358.5 rupees per 100 kg.
The benchmark novemver palm oil futures on Bursa Malaysia Derivatives Exchange was at 2,391 ringgit a tonne, down 46 points at 10:19 a.m.
Palm oil and soybean are related commodities and their prices often move in tandem
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