India soy futures falls for eighth day on overseas cues, rains

Indian soy futures extended losses for the eighth session on Monday (Aug 31) tracking losses in soy on Chicago Board of Trade (CBOT) and expectation of good crop following revival in rains in the growing regions, analysts said.

October soy contract NSBV9 on the National Commodity and Derivatives Exchange fell 1.24 percent to Rs2,152.5 per 100 kg, extending the 4.4-percent loss of the last seven sessions.

October soyoil NSOV9 futures was down 0.6 percent at Rs463.1 per 10 kg.

Most of the oilseeds growing states like Madhya pradesh, Maharashtra, Andhra Pradesh, Karnataka and Gujarat have received rainfall last week and are likely to get more rainfall this week.

November US soy futures SX9 on CBOT edged fell 1.68 percent to US$9.94 a bushel during electronic trade.

US$1 = Rs48.790 (Aug 31)