Indian wheat futures rose on Monday as rains disrupted arrivals in the central region while soyaoil fell on a surge in supplies of rapeseed, the summer season's main oilseed crop.
Sugar fell on profit taking but traders said prices were likely to rise in coming weeks because of good summer demand. March wheat contract at the National Commodities and Derivatives Exchange (NCDEX) rose 9.60 rupees to 852.80 per 100 kg.
April contract gained 1.80 rupees to 773.80. "There have been rains in Madly Prudish which are delaying grain arrivals," one New Delhi-based trader said. The March soyaoil contract at the NCDEX fell 2.85 rupees to 374.85 per 10 kg.
The April contracts at the NCDEX fell 1.80 rupees to 386.25. Traders said supplies of rapeseed, mainly grown in the western state of Rajasthan, were picking up. "Rapeseed is impacting overall prices of vegetable oil," said one Ahmedabad-based dealer.
India's rapeseed production is expected to increase to 6.7 million tonnes from 6.25 million a year ago.
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