Indian oilseeds and soyaoil futures dropped on Friday following weakness in overseas markets and on sluggish exports of soyameal. Chicago new-crop soyabeans edged lower, giving up some recent gains struck on concerns over dry US weather and strong end-user demand, but may find support from forecasts for less rain.
The key August soyaoil contract on the National Commodity & Derivatives Exchange (NCDEX) was down 0.15 percent at 682.40 rupees per 10 kg at 1218 GMT, while the October soyabean contract ended 0.18 percent lower at 3,725 rupees per 100 kg. The August rapeseed contract fell 0.33 percent to 3,611 rupees per 100 kg.
SUGAR Indian sugar futures fell on Friday and are expected to trade slightly weaker in the next trading session due to ample supplies in the local market and lower-than-expected demand. The key August contract fell 0.29 percent to 3,077 rupees per 100 kg. However, dealers expect local demand to improve from August as India will celebrate festivals like Raksha Bandhan, Janmashtami and Ganesh Chaturthi.
GUAR SEED Guar seed futures ended higher as lower rainfall in leading cultivating states raised concerns about sowing. The August contract closed 2.36 percent higher at 5,645 rupees per 100 kg.
CHICKPEA Chana, or chickpea, futures rose supported by lower area under summer-sown pulses due to delayed rains. The August chana contract closed 0.70 percent higher at 2,856 rupees per 100 kg.
TURMERIC Turmeric futures ended higher due to lower rainfall and as spot demand outweighed large stocks. The key August contract closed 1.61 percent higher at 6,548 rupees per 100 kg.
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