18/02/2016 (Reuters) -  Indian rapeseed futures rose on Wednesday as millers bought the oilseed due to strong demand for its oil, while soybean edged up, tracking global markets.

* The key April rapeseed contract on the National Commodity & Derivatives Exchange rose 1.26 percent to 4,030 rupees ($58.84) per 100 kg.

* Hopes that a ceiling on the buying of the oilseed would be removed soon also helped sentiment, traders said.

* The March soybean contract edged 0.45 percent higher to 3,799 rupees per 100 kg.

* Malaysian palm oil futures recovered previous losses to gain on Wednesday as it rose nearly 1 percent on traders' forecasts that end-of-month stockpiles will draw down further during February.

* March soyoil futures were up 0.84 percent at 631.35 rupees per 10 kg at 1314 GMT on strong demand.

SUGAR

* The most active March sugar contract was 0.35 percent up at 3,141 rupees per 100 kg.

* Analysts said sugar prices could fall below 3,000 rupees in the next one month.

CORN, WHEAT

* March corn futures dropped 1.02 percent to 1,357 rupees per 100 kg on higher imports, while the April wheat contract ended 0.51 percent lower at 1,561 rupees per 100 kg. ($1 = 68.4862 Indian rupees)