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India oilseed futures jump as soybean prices fallqrcode

Oct. 23, 2008

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Oct. 23, 2008
Indian soybean futures rose about 2% on Monday, tracking sharp gains in Malaysia and the US and on bargain buying triggered by a steep fall this month, said industry analysts. Expectations of a record soybean crop this year weighed on futures, dragging prices down by more than 14% this month, reports Reuters India. A trend reversal in the US soybean and Malaysian palm industries supported the Indian oilseed futures. Soybean and canola are crushed to produce edible oils, which compete with palm oil, and their prices move in tandem.
Source: FCI

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