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MARKET DEVELOPMENT
Indian Soyoil Hits 15-Month High Tracking Malaysian Palm
calendar05-04-2016 | linkReuters | Share This Post:

05/04/2016 (Reuters) - India soyoil futures touched a 15-month high on Monday tracking higher Malaysian palm oil futures and expectations of a rise in demand.

* April soyoil futures on the National Commodity & Derivatives Exchange were 1.05 percent higher at 654.25 Indian rupees ($9.91) per 10 kg by 1333 GMT, a level last seen in Jan 2015.

* Malaysian palm oil futures rose for a second straight day, as the ringgit weakened and as palm oil tracked improving competing oils.

* The April soybean contract also tracked palm oil, ending the session 0.80 percent higher at 4,138 rupees per 100 kg.

* The April rapeseed contract gained 2.38 percent to 4,295 rupees per 100 kg due to higher demand from oil mills.

SUGAR

* The most active May sugar contract was up 0.23 percent to 3,546 rupees per 100 kg.

* Traders and analysts expect prices to rise further due to demand for the sweetener in summer.

CORN, WHEAT

* May corn futures ended 1.48 percent higher to close at 1,236 rupees per 100 kg, while the May wheat contract edged 0.81 percent higher to 1,614 rupees per 100 kg. ($1 = 66.0413 Indian rupees)