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MARKET DEVELOPMENT
Indian Oilseeds Gain on Domestic Meal Demand
calendar10-06-2016 | linkReuters | Share This Post:

10/06/2016 (Reuters) - Indian soybean and rapeseed futures ended higher on Thursday, helped by domestic demand for meals or animal feed.

* The July soybean contract on the National Commodity & Derivatives Exchange edged up 0.28 percent to 3,903 rupees ($58.49) per 100 kg.

* Lower arrivals of soybean crop, harvested in October, also supported prices.

* The July rapeseed contract rose 0.52 percent to 4,666 rupees per 100 kg due.

* Demand for edible oil from pickle makers helped.

* July soyoil futures eased 0.51 percent to 658.90 rupees per 10 kg at 1314 GMT, tracking losses in Malaysian palm oil futures.

SUGAR

* The most active July sugar contract was 0.05 percent lower at 3,659 rupees per 100 kg.

* Sugar futures may rise tracking international markets and demand for the sweetener during Ramadan is expected to aid sentiment, traders said.

CORN, WHEAT

* July corn futures ended 0.70 percent higher at 1,442 rupees per 100 kg, while the July wheat contract closed up 0.87 percent at 1,737 rupees per 100 kg. ($1 = 66.7288 Indian rupees)