Indian soyabean futures fell on Friday to their lowest level in more than a year due to a drop in soyameal exports, while soyaoil eased following losses in rival Malaysian palm oil. Indian soyameal exports plummeted in August and are expected to remain weak until the year-end when the new crop arrives, as poor supplies and high prices of the animal feed drive traditional buyers away from the leading Asian supplier.
The key October soyabean contract on the National Commodity & Derivatives Exchange closed 2.08 percent lower at 3,158 rupees per 100 kg, after falling to 3,142 rupees, the lowest level since August 19, 2013, earlier in the day. The September rapeseed contract finished down 0.5 percent at 3,560 rupees per 100 kg. At 12:05 GMT, the key September soyaoil contract was down 0.19 percent at 602.65 rupees per 10 kg. Oilseeds and soyaoil futures are likely to edge up in the next trading session.
Raw sugar futures tumbled to a seven-month low in New York on Thursday, on track for a sixth straight weekly loss, as sell-stops accelerated losses on fears of bearish demand expectations and huge nearby supplies.