MARKET DEVELOPMENT
India Oilseeds, Soyoil Fall; Spices Rise
India Oilseeds, Soyoil Fall; Spices Rise
06/03/2015 (Reuters) - Indian soybean futures fell on Thursday due to lower soymeal exports while weak cues from the international market weighed on soyoil and rapeseed futures.
* India's soymeal exports dropped to a four-month low in February, data from a trade body showed on Thursday, as higher prices prompted buyers to opt for cheaper South American supplies.
* The April soybean contract closed 0.59 percent lower at 3,349 rupees per 100 kg on the National Commodity and Derivatives Exchange while the April rapeseed contract fell 0.29 percent to 3,382 rupees per 100 kg.
* At 1233 GMT, the key April soyoil contract slipped 0.62 percent to 584.70 rupees per 10 kg.
* Malaysian palm oil futures dropped to their lowest in nearly a week on Thursday, backtracking from a rally that had lifted the contract to an eight-month top, after top industry analysts painted a gloomy outlook for the second half of the year.
SUGAR
Sugar futures rose on some local demand ahead of a local festival though large spot supplies may weigh on sentiment next week.
* The key May contract was quoted 0.43 percent higher at 2,540 rupees per 100 kg.
* India will celebrate Holi, a local festival, on Friday.
CUMIN SEED
Indian jeera, or cumin seed, futures rose on worries over crop damage and delayed arrivals from the new season crop.
* The key March jeera contract rose 1.34 percent to 14,730 rupees per 100 kg.
TURMERIC
Turmeric futures ended higher on a pick-up in local demand ahead of the Holi festival.
* The key April contract closed up 0.26 percent at 8,432 rupees per 100 kg.
* Turmeric futures are expected to open steady in the next session as large stocks may weigh on prices.
GUAR SEED
Indian guar seed futures fell due to sluggish exports and lower demand from local mills.
* The March contract closed down 1.02 percent at 3,768 rupees per 100 kg.
CHANA
Indian chana, or chickpea, futures ended up on estimates of lower production due to lower area under cultivation.
* The April contract edged up 0.16 percent at 3,680 rupees per 100 kg.
CORN, WHEAT
* The March corn contract ended up 0.94 percent at 1,287 rupees per 100 kg, while the March wheat contract was 1.60 percent higher at 1,646 rupees per 100 kg.
* India's soymeal exports dropped to a four-month low in February, data from a trade body showed on Thursday, as higher prices prompted buyers to opt for cheaper South American supplies.
* The April soybean contract closed 0.59 percent lower at 3,349 rupees per 100 kg on the National Commodity and Derivatives Exchange while the April rapeseed contract fell 0.29 percent to 3,382 rupees per 100 kg.
* At 1233 GMT, the key April soyoil contract slipped 0.62 percent to 584.70 rupees per 10 kg.
* Malaysian palm oil futures dropped to their lowest in nearly a week on Thursday, backtracking from a rally that had lifted the contract to an eight-month top, after top industry analysts painted a gloomy outlook for the second half of the year.
SUGAR
Sugar futures rose on some local demand ahead of a local festival though large spot supplies may weigh on sentiment next week.
* The key May contract was quoted 0.43 percent higher at 2,540 rupees per 100 kg.
* India will celebrate Holi, a local festival, on Friday.
CUMIN SEED
Indian jeera, or cumin seed, futures rose on worries over crop damage and delayed arrivals from the new season crop.
* The key March jeera contract rose 1.34 percent to 14,730 rupees per 100 kg.
TURMERIC
Turmeric futures ended higher on a pick-up in local demand ahead of the Holi festival.
* The key April contract closed up 0.26 percent at 8,432 rupees per 100 kg.
* Turmeric futures are expected to open steady in the next session as large stocks may weigh on prices.
GUAR SEED
Indian guar seed futures fell due to sluggish exports and lower demand from local mills.
* The March contract closed down 1.02 percent at 3,768 rupees per 100 kg.
CHANA
Indian chana, or chickpea, futures ended up on estimates of lower production due to lower area under cultivation.
* The April contract edged up 0.16 percent at 3,680 rupees per 100 kg.
CORN, WHEAT
* The March corn contract ended up 0.94 percent at 1,287 rupees per 100 kg, while the March wheat contract was 1.60 percent higher at 1,646 rupees per 100 kg.