MARKET DEVELOPMENT
Indian Soybean Rises on U.S. Drought; Sugar Up
Indian Soybean Rises on U.S. Drought; Sugar Up
07/04/2015 (Reuters) - Indian soybean futures gained on Monday on reports of worsening of drought in the United States, while untimely rains in the northern parts firmed up rapeseed futures.
* The weekly U.S. Drought Monitor, issued on Thursday by state and federal climate experts, said nearly 36 percent of the High Plains from Kansas to North Dakota was in moderate to exceptional drought, up from 28 percent a week ago.
* Soyoil reflected sentiment in oilseeds and also the firmness in rival Malaysian palm oil futures.
* June soybean futures ended 3.4 percent higher at 3,597 rupees ($58) per 100 kg on the National Commodity and Derivatives Exchange.
* The May rapeseed contract rose 2.5 percent to 3,554 rupees per 100 kg.
* At 0113 GMT, the key June soyoil contract was up 1.8 percent at 575 rupees per 10 kg.
CUMIN SEED
Indian jeera, or cumin seed, futures ended higher on worries about lower output due to untimely rains, and on export demand.
* The key April jeera contract closed up 3.1 percent at 15,165 rupees per 100 kg.
CHANA
Indian chana, or chickpea, futures rose amid expectation of a lower output due to unseasonal rains in the northern region.
* The April contract edged higher 3.9 percent at 3,783 rupees per 100 kg.
GUAR SEED
Indian guar seed futures ended up due to improved demand from millers amid poor local supplies.
* The April contract closed 2.8 percent higher at 3,935 rupees per 100 kg.
TURMERIC
Turmeric futures rose on a pick up in local demand.
* The key May contract closed up 2.5 percent at 7,956 rupees per 100 kg.
SUGAR
Sugar futures rose on good demand from stockists ahead of local new year, though ample supplies curbed the upside.
* The key May contract was quoted 1.1 percent up at 2,487 rupees per 100 kg.
CORN, WHEAT
The May corn contract ended 0.2 percent higher at 1,194 rupees per 100 kg, while the May wheat contract rose 0.8 percent to 1,455 rupees per 100 kg. ($1 = 62.2158 Indian rupees)
* The weekly U.S. Drought Monitor, issued on Thursday by state and federal climate experts, said nearly 36 percent of the High Plains from Kansas to North Dakota was in moderate to exceptional drought, up from 28 percent a week ago.
* Soyoil reflected sentiment in oilseeds and also the firmness in rival Malaysian palm oil futures.
* June soybean futures ended 3.4 percent higher at 3,597 rupees ($58) per 100 kg on the National Commodity and Derivatives Exchange.
* The May rapeseed contract rose 2.5 percent to 3,554 rupees per 100 kg.
* At 0113 GMT, the key June soyoil contract was up 1.8 percent at 575 rupees per 10 kg.
CUMIN SEED
Indian jeera, or cumin seed, futures ended higher on worries about lower output due to untimely rains, and on export demand.
* The key April jeera contract closed up 3.1 percent at 15,165 rupees per 100 kg.
CHANA
Indian chana, or chickpea, futures rose amid expectation of a lower output due to unseasonal rains in the northern region.
* The April contract edged higher 3.9 percent at 3,783 rupees per 100 kg.
GUAR SEED
Indian guar seed futures ended up due to improved demand from millers amid poor local supplies.
* The April contract closed 2.8 percent higher at 3,935 rupees per 100 kg.
TURMERIC
Turmeric futures rose on a pick up in local demand.
* The key May contract closed up 2.5 percent at 7,956 rupees per 100 kg.
SUGAR
Sugar futures rose on good demand from stockists ahead of local new year, though ample supplies curbed the upside.
* The key May contract was quoted 1.1 percent up at 2,487 rupees per 100 kg.
CORN, WHEAT
The May corn contract ended 0.2 percent higher at 1,194 rupees per 100 kg, while the May wheat contract rose 0.8 percent to 1,455 rupees per 100 kg. ($1 = 62.2158 Indian rupees)