India soyoil falls on weak global cues

MUMBAI, Nov 16 (Reuters):  Indian soybean and soyoil futures fell on Friday following weak cues from the international market while expectations of higher output weighed on sentiment. Soybean futures are likely to trade weak in the near term.

The key December soybean contract fell 0.48 per cent to 3,302 rupees per 100 kg on the National Commodity & Derivatives Exchange. A late surge in monsoon rains this year is expected to help India's soybean output rise by a tenth to 10.44 million tonnes in the crop year ending next June.