September 2, 2009
India soy futures fall on weak global cues, rains
Indian soy futures fell in early trade on Wednesday (Sept 2), depressed by rains in growing areas in the last few days and weakness in overseas markets, analysts said.
October soy contract NSBV9 on the National Commodity and Derivatives Exchange edged fell 1.34 percent to Rs2,142.5 per 100 kg.
October soyoil futures NSOV9 was down 1.01 percent to Rs459.05 per 10 kg.
Rains through last week and forecast of more rains in the growing states have raised expectations of a good kharif crop.
US soy futures dropped 0.4 percent on Wednesday (Sept 2), extending an eight-percent plunge of the previous day, hit by good US crop weather, tumbling equities and crude oil markets.
US$1 = Rs49.082 (Sept 2)
