India soybean lower on Malaysia palm
MUMBAI, July 6 (Reuters) - Indian soybean futures opened lower on Monday, tracking weakness in Malaysian palm oil and signs farmers in top producing states may accelerate the sowing that began last week, analysts said.
At 10:18 a.m, July soybean contract NSBN9 on the National Commodity and Derivatives Exchange was down 0.22 percent to 2,447 rupees per 100 kg.
At 10:18 a.m., the benchmark September palm oil futures contract KPOc3 on Bursa Malaysia Derivatives Exchange was down 2.07 percent at 2,130 ringgit a tonne.
Local soybean prices are often influenced by Malaysian palm, which is used as a substitute for soyoil, made by crushing the oilseed.
Soybean sowing has begun in central state of Madhya Pradesh and western state of Maharashtra, the country's top two producers, after rains last week.
(Reporting by Sourav Mishra; editing by Sunil Nair)
© Thomson Reuters 2009 All rights reserved
UK joins G20 push for world levy on banks
Britain threw its weight behind proposals to impose a global levy on banks to fund future bailouts and called on the G20 to work toward a $100 billion deal to meet the cost of climate change. Full Article | Full Coverage
Galleon case
U.S. insider trading probe widens
Fourteen people were charged with fraud and conspiracy in a dramatic widening of an insider trading scandal. Full Article
India
US
UK
