The Indian Oilseeds complex slipped further on long liquidations for the second day lead by weak global cues. The NCDEX RSO for the May contract ended the day down by 0.84% or Rs 6.35 at Rs 766.10 after moving in the range of Rs 772.35-765.25 per 10 kg. The open interest dipped 10% to 1,33,400 tonnes, indicating profit taking. The Soybean May contract ended the day down by Rs 20.50 or 0.67% at Rs 3252 after moving in the range of Rs 3191-3228 per 1 kg. The open interest was down by 3% to 163900 tonnes. Crude palm oil futures on Malaysia's derivatives exchange ended lower Thursday as traders booked profits, after prices hit a fresh 13-month high Tuesday on bullish inventory and strong exports data. The benchmark June contract on the Bursa Malaysia Derivatives exchange settled 1.5% lower at MYR3,559 a metric ton. The market was closed Wednesday for a public holiday. Malaysia's end-March palm oil stocks fell to 1.96 million tons, a seven-month low, as demand growth outpaced production, Malaysian Palm Oil Board data showed Tuesday. April export numbers also boosted CPO prices. Cargo surveyor Intertek Agri Services said April 1-10 shipments rose 7.8% from a month earlier to 478,948 tons, while SGS put the figure at 488,758 tons, a rise of 8.9%. The U.S. Department of Agriculture late Tuesday cut its forecast for South American soybean output and raised the forecast for U.S. exports for the marketing year ending Sept. 30. It cut its estimate for Brazil soybean production by 2.5 million tons from a March forecast, and revised downward the projection for Argentina by 1.5 million tons and for Paraguay by 800,000 tons, amid crop damage due to severe dry weather.
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