Thursday, March 25, 2010

DJ MARKET TALK: India Soybean Futures Likely Down On CBOT Decline

0330 GMT [Dow Jones] India April NCDEX soybean futures likely lower, tracking overnight 0.8% decline in CBOT, weak soymeal export demand; India February soymeal exports down 42.6% on year to 218,748 metric tons. "High temperature in most parts of India has led to a decline in the vegetable oil demand," says Indore-based trader; edible oil consumption drops in summer owing to less demand for fried food. Trader expects soybean in INR2,000-INR2,044/100 kg range, soyoil in INR455-INR461/10 kg band; soybean last closed 2% lower at INR2,015, soyoil down 1.1% at INR458. (

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