India soybean futures seen down on profit-taking

MUMBAI, Dec 2 (Reuters) - India soybean futures may fall on Tuesday on profit-taking triggered by weak palm oil futures in Malaysia and after an outbreak of bird flu in north-eastern part of the country has hit local demand, analysts said.

Soymeal is the main byproduct derived from the crushing of the oilseed and is mainly used as poultry feed.

January futures NSBF9 on the National Commodity and Derivatives Exchange closed at 1,720 rupees per 100 kg in the previous session, up 0.32 percent.

At 9:32 a.m., February palm oil KPOc3 on the Bursa Malaysia Derivatives Exchange was down 3.44 percent at 1,572 ringgit a tonne. (Reporting by Abhishek Shanker; Editing by Sunil Nair)