India soybean nearly flat; trade awaits US report

Indian soybean and rapeseed futures gave up most of its afternoon gains to end slightly up ahead of the key supply and demand estimates by U.S. Department of Agriculture, analysts said.

Soybean Sept futures ended slightly down tracking weak international markets.

The market was up for most part of the day on a firm spot market but later fell pressured from a sharp fall in palm oil in Malaysia and weak soybean on Chicago Board of Trade.

"The market will get fresh direction from the USDA report. But overall demand in the local market should be on the higher side," Vibhu Ratandhara analyst in Bonanza Commodity Brokers Ltd, said.

Spot soybean prices in Indore rose nearly 1 percent to 25,500 rupees per tonne in the afternoon, while rapeseed prices in Jaipur rose 1.31 percent to 3,100 rupees per 100 kg.