India oilseeds, soyoil rise on concerns over soybean output

Indian oilseeds and soyoil futures rose on Tuesday, following gains in Malaysian palm oil and on concerns over production of soybeans due to erratic weather in growing areas. Malaysian palm oil futures hit their highest in nearly two weeks as the ringgit continued to weaken near 1998 lows, although declines in competing markets dragged on appetite for the edible oil.
The key October soybean futures contract on the National Commodity and Derivatives Exchange ended 0.4 percent higher at 3,161 rupees per 100 kg, while the September rapeseed contract rose 0.24 percent to 4,200 rupees per 100 kg. At 1157 GMT, the key October soyoil contract was up 0.64 percent at 571.30 rupees per 10 kg.