Indian oilseeds fell on Thursday as traders shed their long positions on expectations of lower buying. There is a ceiling on the stock dealers and traders can hold. The January soyabean contract on the National Commodity & Derivatives Exchange (NCDEX) closed 1.43 percent down at 3,721 rupees ($55.77) per 100 kg. Rapeseed fell for a seventh straight session, with January rapeseed futures dropping 2.07 percent to 4,684 rupees per 100 kg. Soyaoil for January delivery was 0.61 percent lower at 630.30 rupees per 10 kg at 1233 GMT.
SUGAR The most active March sugar contract edged down 0.13 percent to 2,985 rupees per 100 kg. "The March contract can rise to 3,050 rupees and will get support at 2,920 rupees" in the next one week, said Anuj Gupta, assistant vice president (research) at Angel Commodity Broking.
The March sugar contract may find support due to a possible drop in cane production in Maharashtra state, good export demand and expectations of lower output in Brazil, the world's biggest sugar producer, he added.
CORN, WHEAT January corn futures shed 0.13 percent to end at 1,540 rupees per 100 kg, while the December wheat contract gained 0.48 percent to 1,660 rupees per 100 kg.
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