India May soy contract down 0.9 percent at INR2,627 (US$53) per 100 kg on profit-taking, says Kunal Kothari of Prithvi Broking; adds that prices had been rising for past 8-10 days.

"Demand in the physical markets has also dried up as prices had been rising continuously," he adds. But bullish overseas fundamentals to limit price falls. Kothari expects contract to remain weak for next couple of sessions as traders book profits. For today, he expects contract to trade INR2,610 to INR2,665 per 100 kg.

US$1 = INR49.49 (as of April 16)