Indian soybean and soyoil futures fell to their lowest level in 9-1/2 months on Thursday, while rapeseed hit a nearly 20-month low as a strong rupee and a jump in oilseeds acreage due to good monsoon depressed sentiment. At 0751 GMT, the benchmark Malaysian palm oil contract was down 0.45 percent at 2,212 ringgit per tonne, while US soybeans fell 0.28 percent to $12.53-1/4 per bushel.
The rapeseed contract for August on the National Commodity and Derivatives Exchange dropped 2.85 percent to 3,136 rupees per 100 kg, after falling to 3,117 rupees earlier in the day, the lowest level since December 3, 2011. Indian farmers have grown soybeans on 11 million hectares as of July 18, compared with 8.62 million hectares a year earlier, farm ministry data showed.
The key October soybean contract was down 2.18 percent at 2,939 rupees per 100 kg. It had earlier fallen to 2,921 rupees, the lowest level since October 4, 2012. The key August soyoil contract was down 1.50 percent at 641.30 rupees per 10 kg, falling earlier to 640.20 rupees, the lowest since October 9, 2012.
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