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MARKET DEVELOPMENT
Indian Oilseeds Futures Slide; Sugar up
calendar09-07-2015 | linkReuters | Share This Post:

09/07/2015 (Reuters) - Indian oilseeds futures fell on Wednesday in line with weak palm oil prices in Malaysia but the soyoil contract was unchanged, reflecting robust planting in the country.

* Indian farmers have cultivated summer-sown oilseeds on 7.4 million hectares as on July 3, compared to 1.47 million hectares a year ago.

* Malaysian palm oil futures slid for a third session on Wednesday, falling 3 percent to a six-week low as Chinese stocks tumbled and the Greek debt crisis continued to hammer markets.

* The key August soybean contract on the National Commodity and Derivatives Exchange closed 0.43 percent lower at 3,461 rupees per 100 kg, while the July rapeseed contract fell 0.51 percent to 4,135 rupees per 100 kg.

* At 1202 GMT, the key August soyoil contract was unchanged at 571 rupees per 10 kg.

SUGAR

* Sugar was up because of some correction, according to traders, as the contract was down for the past few sessions due to ample stocks with mills.

* The key October contract was quoted at 2,233 rupees per 100 kg, up 0.59 percent.

CORN, WHEAT

* The July corn contract was up 0.58 percent at 1,206 rupees per 100 kg, as rains damaged the crop in some parts of India, while the July wheat contract was down 0.40 percent to 1,496 rupees per 100 kg.