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India soybean futures rise on higher demand
April 11, 2017 / 11:47 AM / 8 months ago

India soybean futures rise on higher demand

NEW DELHI, April 11 (Reuters) - Indian soybean futures rose on Tuesday helped by higher demand even as agricultural commodities in general witnessed a tepid trading session.

The April soybean contract was trading 0.4 percent higher at 2,845 Indian rupees ($44.12) per 100 kg on the National Commodity & Derivatives Exchange Ltd (NCDEX) as of 1136 GMT, snapping a three session losing streak.

“The soybean inventories in the exchange are lower than expected and that has lead to higher demand,” said Chowda Reddy, an analyst at Inditrade Capital Ltd.

The April soyoil futures were largely flat at 633.30 rupees per 10 kg. The April rapeseed contract closed 0.3 percent lower at 3,802 rupees per 100 kg. ($1 = 64.4900 Indian rupees) (Reporting by Sudarshan Varadhan; Editing by Vyas Mohan)

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