India soy futures extend losses for a sixth session

India soy futures extended losses for a sixth session on Monday (Jan 11) weighed by weak physical off-take on falling meal exports, analysts said.

The February soy contract NSBG0 on the National Commodity and Derivatives Exchange was down 0.87% at Rs2,288.50 (US$50.44) per 100 kg.

Indian millers say since oil and meal do not command good prices, processing soy is economically unviable.

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