March 17, 2009

India soy futures edged up in morning trades Monday (Mar 16) as downward pressure from higher supplies of rapeseed at spot markets were more than offset by firm overseas cues, analysts said.

April soy NSBJ9 on the National Commodity and Derivatives Exchange (NCDEX) edged up 0.13 percent to Rp2,336 (US$45.66) per 100 kg.

July soy SN9 on Chicago Board of Trade (CBOT) edged up 0.14 percent to US$8.76 to half a bushel during electronic trade.

But higher arrivals of rapeseed, the main winter-sown oilseed, limited these gains. Arrivals at markets in largest producer Rajasthan crossed 300,000 bags of about 85 kg each in early March, sharply higher than at this time last year.