MARKET DEVELOPMENT
Indian Soybean, Soyoil Lower on Profit Taking
Indian Soybean, Soyoil Lower on Profit Taking
06/04/2016 (Reuters) - India soybean futures dropped on Tuesday on profit booking after rising for three straight sessions.
* The April soybean contract on the National Commodity & Derivatives Exchange fell 1.5 percent to 4,076 rupees per 100 kg.
* The April rapeseed contract closed unchanged at 4,295 rupees per 100 kg. Steady demand from oil mills prevented prices from falling.
* May soyoil futures were 0.63 percent lower at 657.70 Indian rupees ($9.91) per 10 kg by 1610 GMT on profit taking. Losses also tracked lower Malaysian palm oil futures.
* Malaysian palm oil futures reversed earlier gains to fall in evening trade on Tuesday as the market took profits in anticipation of higher than expected end-stocks.
SUGAR
* The most active May sugar contract was down 1.30 percent at 3,495 rupees per 100 kg.
* Traders and analysts say prices are likely to rise due to demand for the sweetener in summer.
CORN, WHEAT
* May corn futures shed 0.57 percent to close at 1,229 rupees per 100 kg, while the May wheat contract slipped 0.06 percent to 1,613 rupees per 100 kg. ($1 = 66.3985 Indian rupees)
* The April soybean contract on the National Commodity & Derivatives Exchange fell 1.5 percent to 4,076 rupees per 100 kg.
* The April rapeseed contract closed unchanged at 4,295 rupees per 100 kg. Steady demand from oil mills prevented prices from falling.
* May soyoil futures were 0.63 percent lower at 657.70 Indian rupees ($9.91) per 10 kg by 1610 GMT on profit taking. Losses also tracked lower Malaysian palm oil futures.
* Malaysian palm oil futures reversed earlier gains to fall in evening trade on Tuesday as the market took profits in anticipation of higher than expected end-stocks.
SUGAR
* The most active May sugar contract was down 1.30 percent at 3,495 rupees per 100 kg.
* Traders and analysts say prices are likely to rise due to demand for the sweetener in summer.
CORN, WHEAT
* May corn futures shed 0.57 percent to close at 1,229 rupees per 100 kg, while the May wheat contract slipped 0.06 percent to 1,613 rupees per 100 kg. ($1 = 66.3985 Indian rupees)