MARKET DEVELOPMENT
Indian Soyoil Futures Rise, Tracking Malaysian Palm
Indian Soyoil Futures Rise, Tracking Malaysian Palm
18/11/2016 (Reuters) - Indian soyoil futures edged up on Thursday, tracking gains in Malaysian palm oil futures and other overseas markets.
Benchmark palm oil futures for February on the Bursa Malaysia Derivatives Exchange were up 0.7 percent at 2,876 ringgit ($655) a tonne at the end of the trading session.
The January soybean oil contract on the Dalian Commodity Exchange rose 0.1 percent, while the December soybean oil contract on the CBOT was up 0.4 percent.
December soyoil futures on the National Commodity & Derivatives Exchange (NCDEX) were about 0.5 percent higher at 684 rupees ($10.09) per 10 kg at 1208 GMT.
The soybean contract settled higher for the second consecutive day, rising 1.1 percent to 3,071 rupees per 100 kg.
The December sugar contract rose about 2.2 percent to 3,560 rupees per 100 kg in high volumes, as it converged towards the spot market price.
RAPESEED
* The December rapeseed contract rose 0.3 percent to 4,554 rupees per 100 kg.
CORN, WHEAT
* December corn futures gained 0.6 percent to close at 1,434 rupees per 100 kg.
* The December wheat contract rose 2.8 percent to 2,086 rupees per 100 kg. This was "due to speculations following low supply of wheat from farmers," said a trader from central India. ($1 = 67.8179 Indian rupees)
Benchmark palm oil futures for February on the Bursa Malaysia Derivatives Exchange were up 0.7 percent at 2,876 ringgit ($655) a tonne at the end of the trading session.
The January soybean oil contract on the Dalian Commodity Exchange rose 0.1 percent, while the December soybean oil contract on the CBOT was up 0.4 percent.
December soyoil futures on the National Commodity & Derivatives Exchange (NCDEX) were about 0.5 percent higher at 684 rupees ($10.09) per 10 kg at 1208 GMT.
The soybean contract settled higher for the second consecutive day, rising 1.1 percent to 3,071 rupees per 100 kg.
The December sugar contract rose about 2.2 percent to 3,560 rupees per 100 kg in high volumes, as it converged towards the spot market price.
RAPESEED
* The December rapeseed contract rose 0.3 percent to 4,554 rupees per 100 kg.
CORN, WHEAT
* December corn futures gained 0.6 percent to close at 1,434 rupees per 100 kg.
* The December wheat contract rose 2.8 percent to 2,086 rupees per 100 kg. This was "due to speculations following low supply of wheat from farmers," said a trader from central India. ($1 = 67.8179 Indian rupees)