July 11, 2017 / 1:39 PM / a month ago

Indian soybeans post biggest intraday fall in more than 9 months

NEW DELHI, July 11 (Reuters) - Indian soybean front-month futures recorded their biggest intraday fall in more than nine months on Tuesday on profit-booking and as expectations of more rainfall raised concerns of oversupply.

July soybean futures closed 2.9 percent lower at 2,915 rupees ($45.17) per 100 kg on the National Commodities and Derivatives Exchange. Earlier in the session, they slipped as much as about 3 pct, in their biggest intraday fall since October 2016. The contract rose 5.8 percent up to Monday's close since the expiry of the June contract.

Indian July soyoil futures were down 0.2 percent at 642 rupees per 10 kg, as of 1328 GMT, while rapeseed futures ended 1.2 percent lower at 3,600 rupees. ($1 = 64.5350 Indian rupees) (Reporting by Sudarshan Varadhan; Editing by Sherry Jacob-Phillips)

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