MUMBAI, Jan 29 (Reuters) - India's soybean futures fell for a fourth straight day in early Friday trade, hammered by weak demand in physical market due to a slump in meal exports, and on weak global cues, analysts said.
India's oilmeal exports slumped 44 percent to 395,663 tonnes in December from 708,631 tonnes a year earlier, a leading trade body said earlier this month. See [ID:nBMA006705]
At 10:34 a.m., the February soybean contract NSBG0 on the National Commodity and Derivatives Exchange was down 0.62 percent at 2,087 rupees per 100 kg.
The benchmark March palm contract KPOc3 on the Bursa Malaysia Derivatives Exchange fell 0.61 percent to 2,436 ringgit per tonne by mid-day break.
Soybean is crushed to produce soyoil and soymeal. Soyoil and palm oil prices usually move in tandem as both are used as cooking oil.
Source : REUTERS