Indian soyabeans hit four-month high on lower output

Indian soyabean futures rose in a volatile trade on Tuesday to their highest level in nearly four months on concerns over production, while rapeseed fell on profit-taking after hitting an all-time high. Soyaoil futures dropped following losses in Malaysian palm oil and higher imports of edible oils.
The most active November soyabean contract on the National Commodity and Derivatives Exchange ended 0.22 percent higher at 3,689 rupees per 100 kg, after rising to 3,749 rupees earlier in the day, the highest level since June 11. The November rapeseed futures fell 0.9 percent to 4,778 rupees per 100 kg after touching a record high of 4,861 rupees earlier in the session. India's soyabean yields are expected to fall this year as the first back-to-back drought in three decades wilts crops, offsetting an increase in the area under cultivation.
SUGAR Sugar futures were treading water as ample carry forward stocks offset concerns over production due to lower rainfall in top producing western state of Maharashtra. The key December sugar futures were unchanged 2,669 rupees per 100 kg.
CORN, WHEAT The October corn futures contract rose 0.5 percent to close at 1,472 rupees per 100 kg on lower production, while November wheat futures gained 0.75 percent to 1,606 rupees per 100 kg.