India Soybean ends 2.5% lower on high supply; CPO eases.

Futures contracts of all components of the edible oil basket declined on domestic exchanges. Extending losses from the previous session, soybean on the National Commodity and Derivatives Exchange closed 2.5% lower owing to rising supply of the fresh crop in key markets. Weakness in key contracts on the Chicago Board of Trade also weighed on sentiment on the domestic exchange. Refined soyoil on the NCDEX fell 0.6%, while crude palm oil on the MCX was down nearly 1% due to lukewarm demand and higher imports ahead of an anticipated import duty hike.