Indian soy futures seen extending losses on global leads

India's soy futures may extend previous day's losses on Monday (Jan 18) tracking weak international markets and sluggish domestic demand, analysts said.

The February soy contract NSBG0 on the National Commodity and Derivatives Exchange ended 1.6% lower at Rs2,197 (US$48.16) per 100 kg in the previous session.

The benchmark March palm oil contract KPOc3 on the Bursa Malaysia Derivatives Exchange was trading 1.68% lower at MYR2,453 (US$734.43) per tonne earlier.

Indian millers say since oil and meal do not command good prices, processing soybean is economically unviable, leading to sluggish demand for the oilseed in the spot market.

India's oilmeal exports slumped 44%to 395,663 tonnes in December from 708,631 tonnes a year earlier, a leading trade body said on earlier.