March 11, 2009
Indian soy futures recover early losses on gains in US
India soy futures recouped early losses and traded almost steady on Tuesday (Mar 10) tracking gains in US soy market, analysts said.
However, expectations of a drop in oilseed prices following a rise in arrivals of winter-sown oilseeds limited gains.
April soy NSBJ9 on the National Commodity and Derivatives Exchange was steady at Rp2,324 per 100 kilogrammes, while June rapeseed NRSM9 was down 1.09 percent at Rp455.35 per 20 kilogrammes.
Traders said that the arrival of rapeseed, the main winter-sown oilseed, has risen sharply putting pressure on the oilseed prices.
