March 6, 2009

India soy futures ended down on Thursday (Mar 5) on profit-taking after rising more than 3.5 percent in the previous two sessions, but firm spot prices limited the losses, analysts said.

Soy prices in the spot market in Indore, a hub for soy trade in India, rose 1.35 percent to Rp22,600 (US$436.79) per tonne.

May rapeseed prices edged up tracking firm demand from the millers in the spot market, but higher arrivals in the spot market limited the gains.

Demand for rapeseed rose as millers bought heavily to meet their annual requirements.

Traders said rapeseed arrivals in Rajasthan, the largest producer, rose to over 315,000 bags of about 85 kilogrammes on Thursday (Mar 5), up from about 240,000 bags in the previous session.