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India soybean futures extend gain on higher demand, tighter supply
April 12, 2017 / 1:30 PM / 8 months ago

India soybean futures extend gain on higher demand, tighter supply

NEW DELHI, April 12 (Reuters) - Indian soybean futures rose for the second straight session on Wednesday, helped by higher demand and tighter supplies.

Traders are buying as they want to cash in on lower prices during the lean season, said Chowda Reddy, an analyst at Inditrade Capital Ltd.

The April soybean contract closed 1.7 percent higher at 2,890 Indian rupees per 100 kg on the National Commodity & Derivatives Exchange Ltd (NCDEX).

The April soyoil futures were largely flat at 633.70 rupees per 10 kg as of 1319 GMT.

The April rapeseed contract closed 1 percent higher at 3,840 rupees per 100 kg, snapping a 5 session losing streak. (Reporting by Sudarshan Varadhan; Editing by Vyas Mohan)

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