MUMBAI, March 9 (Reuters) - India's oilseeds and soyoil futures extended the previous session's losses on Tuesday, tracking weakness in overseas markets and on poor domestic demand due to a fall in meal exports, analysts said.
"In spot market trade was very thin. Millers were not buying due to weak meal exports, while farmers were bringing soybean in a small quantity due to a sharp fall in prices," Mehul Agrawal, an analyst at Sharekhan Commodities, said.
India's February oilmeal exports slumped 26 percent from a year earlier, falling for the fourth straight month on weak demand from Vietnam, China, Indonesia and Japan, a trade body said. See [ID:nSGE6230KK]
U.S. soybean futures Sc1 ticked lower on Tuesday in sideway trade ahead of key U.S. government report of world agriculture supply and demand. See [ID:nSGE62803P]
At 12:40 p.m., the March soybean contract NSBJ0 on the National Commodity and Derivatives Exchange was 0.42 percent lower at 2,036 rupees per 100 kg, while April soyoil NSOJ0 was 0.13 percent down at 467.25 rupees per 10 kg.
The April rapeseed NRSJ0 was 0.14 percent lower at 470.65 rupees per 20 kg.
A likely drop in domestic rapeseed crop may prompt bargain-buying later, analysts said.
India's rapeseed output may fall an annual 4.8 percent in 2010 to 5.9 million tonnes in 2009/10, a leading trade body said last month
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