January 9, 2017 / 12:09 PM / 10 months ago

Indian soybean falls on higher supply

Jan 9 (Reuters) - Indian soybean futures fell on Monday after data from a trade body showed soybean exports more than doubled in December, suggesting higher supply in the local market.

India’s oilmeal exports in December rose 130 percent from a year earlier to 194,309 tonnes as shipments of soymeal rose from last year’s upper base, the trade body said on Monday.

The January soybean futures closed 1.1 percent lower on the National Commodity & Derivatives Exchange Ltd (NCDEX) at 2,994 Indian rupees ($43.91). The January soyoil contract was down 0.2 percent at 724.60 rupees per 10 kg as of 1205 GMT.

March sugar futures rose 0.6 percent to 3,844 rupees per 100 kg, due to a shortage of supply.

RAPESEED

* Indian rapeseed was flat at 4,295 rupees in light trading on Monday.

CORN, WHEAT

* January corn futures was flat at 1,413 rupees per 100 kg, while the January wheat contract settled 0.3 percent higher at 1,861 rupees per 100 kg in thin trading. ($1 = 68.1883 Indian rupees) (Reporting by Sudarshan Varadhan in New Delhi; Editing by Amrutha Gayathri)

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