India soybean up on Malaysia palm, low output view

MUMBAI, Dec 28 (Reuters) - India's soybean futures rose in early trade on Monday tracking Malaysian palm and on lower output estimate, but weak soymeal exports weighed on sentiment, analysts said.

At 11:40 a.m., the January soybean NSBF0 on the National Commodity and Derivatives Exchange was up 0.63 percent at 2,407 rupees per 100 kg.

Malaysian crude palm oil futures gained nearly 2 percent on Monday, extending pre-Christmas gains, as higher crude oil prices and expectations of lower stocks bolstered the market. See [ID:JAK130960]

India's oilmeal exports halved to 346,859 tonnes in November, its first monthly fall in three months, as soymeal prices rose following a poor oilseed crop and as shipments to Vietnam, Japan and China fell.