MUMBAI, Feb 2 (Reuters) - India soybean and soyoil futures were down on early Monday trade on poor soymeal demand, a weak Chicago Board of Trade (CBOT) and on edible oil import tenders floated by the state-owned firms, analysts said.
Soymeal is the main product derived after crushing soybean.
Last week state-run firms MMTC Ltd (MMTC.BO: Quote, Profile, Research), STC Ltd and PEC Ltd issued tenders to import 42,000 tonnes of edible oil.
At 11:08 a.m. March soybean NSBH9 on National Commodity and Derivatives Exchange was down 1.30 percent at 2,237.50 rupees per 100 kg.
The March soyoil contract NSOH9 fell 0.36 percent to 441.35 rupees per 10 kg.
July soybean SN9 on the Chicago Board of Trade was down 1.06 percent at $9.83-¼ a bushel in electronic trade.
Local oilseed and edible oil markets track international prices as the country imports a large part of its edible oil requirement.
Source : Reuters India