Indian soyabean, sugar futures rise

Indian soyabean edged up on Monday on good export demand for soyameal, while a rise in US soyabean futures also aided sentiment. Rapeseed futures, however, fell on profit-taking. The February soyabean contract edged up 0.03 percent to 3,482 rupees per 100 kg on the National Commodity and Derivatives Exchange. The key January rapeseed contract ended down 2.41 percent at 4,136 rupees per 100 kg. At 1250 GMT, the key February soyaoil contract was up 0.09 percent at 642.40 rupees per 10 kg.
SUGAR Indian sugar futures rose on hopes of government incentives for raw sugar exports. The key March contract was quoted 0.40 percent higher at 2,745 rupees per 100 kg. Sugar futures may open up on Tuesday but higher production may weigh on sentiment. Indian sugar mills produced 7.5 million tonnes of the sweetener between October 1 and December 31, over 27 percent more than a year earlier as crushing in the northern state of Uttar Pradesh started a week in advance, a producers' body said on Monday.
GUAR SEED Indian guar seed futures rose on slack local supply and worries of lower production due to unfavourable weather conditions. Guar futures are expected to open higher on Tuesday. The February contract ended 1.92 percent higher at 4,678 rupees per 100 kg.
CUMIN SEED Jeera, or cumin seed, futures rose because of concerns about lower production after farmers reduced the area under cultivation. The key February contract ended 0.93 percent higher at 15,775 rupees per 100 kg. Cumin seed futures are likely to trade firm in the short term on lower sowing area.
CHICKPEA Indian chana, or chickpea, futures fell on sluggish demand but may edge up on Tuesday due to lower area under cultivation. The February contract ended down 0.42 percent at 3,529 rupees per 100 kg. India, the world's biggest producer and importer of pulses, has extended duty-free imports of chickpea, or chana, till March-end, due to lower area under cultivation, a government notification said.
TURMERIC Turmeric futures fell on weak exports and local demand. The key April contract closed 2.36 percent lower at 9,092 rupees per 100 kg.
CORN, WHEAT The February corn contract ended unchanged at 1,251 rupees per 100 kg, while February wheat edged down 0.12 percent to 1,710 rupees per 100 kg.