Indian soybean ends lower on weak meal exports

Indian soybean futures edged lower on Friday as millers stayed away from buying due to weak export demand for meal or animal feed, while rapeseed ended lower on continued arrivals of the new harvest. The March soybean contract on the National Commodity & Derivatives Exchange dropped 0.41 percent to 3,618 rupees ($53.96) per 100 kg.
The key April rapeseed contract slipped 0.41 percent to 3,840 rupees per 100 kg. March soyoil futures were 0.02 percent lower at 603.50 rupees per 10 kg at 1201 GMT. The March sugar contract was trading up 0.09 percent at 3,228 rupees per 100 kg. Traders said a surge in demand as the summer season sets in is likely to help sentiment. March corn futures shed 0.42 percent to close at 1,424 rupees per 100 kg, while the April wheat contract ended unchanged at 1,549 rupees per 100 kg.