India soybean, soyoil futures down, tracking Malaysian palm

MUMBAI, April 29 (Reuters) - Indian soyoil and soybean futures fell on Wednesday morning tracking weakness in Malaysian palm oil and expectation of lower demand following an outbreak of swine flu, analysts said.

At 10:59 a.m, the June soybean contract NSBM9 on the National Commodity and Derivatives Exchange fell 0.32 percent to 2,613 rupees per 100 kg. The June soyoil contract NSOM9 was at 493 rupees per 10 kg, down 0.45 percent.

Rapeseed futures edged up on expectation of lower arrival. The June rapeseed contract NRSM9 rose 0.44 percent to 522.6 rupees per 20 kg.

At 10:00 a.m. the benchmark July palm oil futures KPOc3 on Bursa Malaysia Derivatives Exchange was down 1.71 percent at 2,414 ringgit a tonne.

The swine flu has lowered the meat consumption, affecting soymeal demand, which is mainly used as cattle and poultry feed.

Higher soyoil and palm oil supplies from state-run firms and private traders after a rise in spot prices last week also weighed, they added. (Reporting by Abhishek Shanker; Editing by Ramya Venugopal)