06/03/2012 (MoneyControl.com) - Nirmal Bang has come out with its report on agri commodities. As per the research firm outlook for Soybean is seen up for the day and CPO is expected to trade sideways to up.

Indian soybean futures fell on profit-taking after rising to their highest level in nearly three years, powered by thin supplies and robust demand in the physical market. Rapeseed futures rose on an estimated drop in the production and good demand in the physical market, while soyoil ended steady. In the Indore spot market in Madhya Pradesh, soyoil rose 1.35 rupees to 710.6 rupees per 10 kg, while soybean climbed 34 rupees to 2,671 rupees per 100 kg. At Sri Ganganagar in Rajasthan, rapeseed climbed 40 rupees to 3,461 per 100 kg.

Indonesia will aim to increase palm oil yields to boost output by 73 percent by 2020, a senior agriculture official said on Friday, and added it may give tax cuts to those complying with a government-backed green scheme.

Malaysian crude palm oil futures fell on Friday as traders booked profits from a rally driven by surging crude oil prices and prospects of tighter soyoil supplies from South America.

Outlook for Soybean is up for the day. CPO is expected to trade sideways to up.