Indian soyaoil futures gain; turmeric down

Indian soyaoil futures gained on Friday on positive Malaysian palm oil futures while rapessed ended weak on loower exports of rapeseed meal Malaysian palm oil futures ended higher on concerns over monsoon rains hurting output and as crude prices ticked up, but the recovery was not enough to keep palm from its biggest weekly fall in three.
At 1231 GMT, the key January soyaoil contract was up 0.50 percent at 598.50 rupees per 10 kg on the National Commodity and Derivatives Exchange. The key January soyabean contract ended flat at 3,295 rupees per 100 kg, while the January rapeseed contract ended 0.69 percent lower at 4,190 rupees per 100 kg.
TURMERIC
-- Turmeric futures fell on large stocks and weak exports.
-- Turmeric futures are likely to lower on Monday.
-- The key April contract closed down 0.72 percent at 8,010 rupees per 100 kg.
CHICKPEA
Indian chana, or chickpea, futures ended higher on lower area under cultivation and unfavourable weather.
Chana futures are expected to trade higher next week.
The January contract ended up 0.24 percent at 3,279 rupees per 100 kg.
GUAR SEED
Indian guar seed futures ended lower due to sluggish export demand from oil companies, though thin supplies restricted the downside.
The January contract ended 1.88 percent lower at 4,390 rupees per 100 kg.
Food firms are also buyers and the sector is likely to take more this year as traders scout out new markets, but it will be hard to match the impact made by oil industry demand in recent years.
CUMIN SEED
Jeera, or cumin seed, futures ended almost steady as hopes of higher sowing offset export demand.
The key January contract edged up 0.07 percent to close at 13,635 rupees per 100 kg.
Jeera futures are likely to trade range-bound next session.
SUGAR
Indian sugar futures were down as ample supplies in the local market amid subdued demand weighed on sentiment.
The key March contract was quoted 0.71 percent down at 2,670 rupees per 100 kg.
India, the world's second-biggest sugar producer, will soon decide on extending incentives for raw sugar exports, Food Secretary Sudhir Kumar said on Thursday, as mills struggle to pay farmers the stipulated price for cane.
CORN, WHEAT
The January corn contract was 0.81 percent lower at 1,219 rupees per 100 kg, while January wheat was up 0.36 percent at 1,690 rupees per 100 kg.