Indian soyabean futures fall as arrivals pick up

Indian soyabean futures fell on Monday as arrival of new harvests started picking up, while settlement of the current month contract also dented buying interest. Soyaoil futures tracked weaker trade in rival palm oil on the Bursa Malaysia Derivatives Exchange. Rapeseed reflected the sentiment in soya complex.
The key November soyabean contract closed 2.2 percent down at 3,001 rupees (49 dollar) per 100 kg on the National Commodity & Derivatives Exchange. At 1250 GMT, the key November soyaoil contract was down 0.6 percent at 574 rupees per 10 kg. The November rapeseed contract closed 0.2 percent down at 3,646 rupees per 100 kg.
SUGAR Sugar futures rose, reflecting fresh buying interest before the festival of Diwali during the second half of this week.
Sugar futures are likely to trade higher before Diwali, though the medium-term outlook continues to be weak on prospects of ample supplies in the world's second biggest producer of the sweetener after Brazil. The key December contract rose 0.4 percent to 2,794 rupees per 100 kg.
CHICKPEA Chana, or chickpea, futures fell on profit-taking, though a rise in local consumption in the peak festival season is expected to support prices during this week. The November contract fell 0.6 percent to 2,870 rupees per 100 kg.
GUAR SEED Indian guar seed futures witnessed poor activity at a majority of the spot markets in north India. The November contract ended almost flat at 5,495 rupees per 100 kg.
TURMERIC Turmeric futures ended higher on expectations of a pickup in export demand. The key November contract closed 0.4 percent up at 6,066 rupees per 100 kg.
CUMIN SEED Jeera, or cumin seed, futures ended up on export demand, though high arrivals limited the gain. The key November contract closed up 0.3 percent at 10,990 rupees per 100 kg.
CORN, WHEAT The November corn contract was up 0.7 percent at 1,063 rupees per 100 kg, while November wheat rose 0.7 percent to 1,610 rupees per 100 kg.