MUMBAI (Commodity Online):Soybean futures fell in NCDEX on fresh selling by the traders due to poor domestic demand.
In NCDEX soybean April contract closed at Rs.3207 per quintal, down by 1.32% the previous close. Open interest of the contract stood at 51630 lots and volume traded is 65190 lots.
India's soy meal exports, in March 2012 increased by 12.16 per cent to 4,60,464 tonnes from 4,10,537 tonnes during the same period last year.
Global oilseed production for 2011/12 is projected at 440.6 million tons, down 5.2 million from last month. Brazil soybean production is forecast at 66 million tons, down 2.5 million from last month as warm temperatures.