MUMBAI, Oct 8 (Reuters) - Indian soybean futures were lower on Thursday afternoon tracking a weak Malaysian palm and drop in spot demand, but an expected delay in arrivals due to rains in growing regions limited losses, analysts said.
Expectation of record soybean crop in Brazil, a top producer, also weighed on the markets.
At 2:51 p.m., the November soybean contract NSBX9 on the National Commodity and Derivatives Exchange was down 0.63 percent to 1,975.5 rupees per 100 kg.
The November soyoil futures NSOX9 fell 1.14 percent to 420.5 rupees per 10 kg. The contract had earlier toughed a new low of 419.8
Soybean prices in the spot market in Indore fell 1.55 percent to 19,000 rupees per tonne.
The new soy crop in Brazil was projected at a record 62.26 million to 63.27 million tonnes compared with the 57.09 million tonnes harvested last season, government's crop supply agency Conab said on Wednesday. See[ID:nN07371648]
Arrivals are likely to be delayed as heavy rains in Maharashtra, the second biggest producer, may hinder efforts to harvest the crop and transport it to the physical markets.
The benchmark December palm oil futures KPOc3 on Bursa Malaysia Derivatives Exchange was at 2,065 ringgit a tonne, down 0.58 percent at 2:59 p.m.
Palm oil and soybean are related commodities and their prices often move in tandem.
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