Indian soy futures seen to fall on profit-taking

Indian soy futures may fall on Wednesday (Apr 8) on profit-taking after it rose about 8 percent this month, analyst said.

Rapeseed futures is said to ease on higher arrivals in the spot market.

Analysts said however, expectations of global supply squeeze and rising demand may limit the losses.

They added that weakness in US soy market may also weigh on the markets.

May soy on the National Commodity and Derivatives Exchange (NCDEX) ended at Rp2,528.5 per 100 kilogrammes, up 1.61 percent on Monday (Apr 6), while May soyoil ended at Rp469 per 10 kilogrammes, up 0.7 percent.

July soy futures and July soyoil futures on Chicago Board of Trade (CBOT) was down 0.2 percent at US$9.86 a bushel during the electronic trade.