MARKET DEVELOPMENT
Indian Oilseeds Rise on Poor Spot Supplies, Sugar Gains
Indian Oilseeds Rise on Poor Spot Supplies, Sugar Gains
06/05/2015 (Reuters) - Indian oilseeds futures rose on Tuesday, attracting fresh buying support amid poor supplies in spot markets, while soyoil futures rose tracking gains in rival Malaysian palm oil.
* Malaysian palm oil futures jumped more than 3 percent to their highest in nearly two weeks as the local currency slid and overseas soyoil markets tracked by palm underpinned sentiment.
* The May rapeseed contract rose 3.8 percent to 3,969 rupees ($63) per 100 kg on the National Commodity and Derivatives Exchange, while June soybean futures ended 3.9 percent higher at 4,232 rupees per 100 kg.
* At 01:00 GMT, the key June soyoil contract rose 0.5 percent to 599 rupees per 10 kg.
CHANA
Indian chana, or chickpea, futures ended higher as arrivals of new harvest were lower than expected on recent unseasonal rains in key growing areas.
* The May contract ended 4 percent up at 4,372 rupees per 100 kg.
* Untimely rains in the last few weeks in the central state of Madhya Pradesh and in the western state of Maharashtra damaged the mature chana crop in some districts.
GUAR SEED
Indian guar seed futures ended higher on improved signs of guar gum exports as crude prices gained.
* The May contract closed 4 percent higher at 5,148 rupees per 100 kg.
CUMIN SEED
Indian jeera, or cumin seed, futures ended higher on poor market arrivals of the new season crop.
* The key May jeera contract rose 1.4 percent to 17,900 rupees per 100 kg.
SUGAR
Indian sugar futures received buying support on worries that this year's monsoon rains could be below average.
* The key May contract was quoted 0.3 percent higher at 2,430 rupees per 100 kg.
TURMERIC
Turmeric futures rose on export queries.
* The key May contract closed higher 1.3 percent at 8,430 rupees per 100 kg.
CORN, WHEAT
The June corn contract rose 0.8 percent to 1,201 rupees per 100 kg, while the June wheat contract closed up 2.2 percent at 1,533 rupees per 100 kg. ($1 = 63.3800 Indian rupees)
* Malaysian palm oil futures jumped more than 3 percent to their highest in nearly two weeks as the local currency slid and overseas soyoil markets tracked by palm underpinned sentiment.
* The May rapeseed contract rose 3.8 percent to 3,969 rupees ($63) per 100 kg on the National Commodity and Derivatives Exchange, while June soybean futures ended 3.9 percent higher at 4,232 rupees per 100 kg.
* At 01:00 GMT, the key June soyoil contract rose 0.5 percent to 599 rupees per 10 kg.
CHANA
Indian chana, or chickpea, futures ended higher as arrivals of new harvest were lower than expected on recent unseasonal rains in key growing areas.
* The May contract ended 4 percent up at 4,372 rupees per 100 kg.
* Untimely rains in the last few weeks in the central state of Madhya Pradesh and in the western state of Maharashtra damaged the mature chana crop in some districts.
GUAR SEED
Indian guar seed futures ended higher on improved signs of guar gum exports as crude prices gained.
* The May contract closed 4 percent higher at 5,148 rupees per 100 kg.
CUMIN SEED
Indian jeera, or cumin seed, futures ended higher on poor market arrivals of the new season crop.
* The key May jeera contract rose 1.4 percent to 17,900 rupees per 100 kg.
SUGAR
Indian sugar futures received buying support on worries that this year's monsoon rains could be below average.
* The key May contract was quoted 0.3 percent higher at 2,430 rupees per 100 kg.
TURMERIC
Turmeric futures rose on export queries.
* The key May contract closed higher 1.3 percent at 8,430 rupees per 100 kg.
CORN, WHEAT
The June corn contract rose 0.8 percent to 1,201 rupees per 100 kg, while the June wheat contract closed up 2.2 percent at 1,533 rupees per 100 kg. ($1 = 63.3800 Indian rupees)