Indian soyabean futures gained on Monday after a delay in the arrival of monsoon rains in key soyabean growing areas raised expectations of lower output, traders said. The July soyabean contract on the National Commodity & Derivatives Exchange rose 2.77 percent to 4,003 rupees($59.66) per 100 kg. Low arrivals of soyabean in the spot market also supported prices. The July rapeseed contract rose 1.84 percent to 4,816 rupees per 100 kg, tracking gains in soyabean and demand from oil mills for crushing.
July soyaoil futures eased 0.69 percent to 654 rupees per 10 kg at 1242 GMT, tracking losses in Malaysian palm oil futures. Malaysian palm oil futures fell for a sixth straight session on Monday, dropping early as traders foresaw rising output amid slowing demand, and again in the evening tracking rival oil prices.
SUGAR The most active July sugar contract was 0.52 percent up at 3,675 rupees per 100 kg on expectations of lower production of the sweetener. India is planning to introduce a 25 percent tax on sugar exports to maintain local supplies.
CORN, WHEAT July corn futures ended 1.36 percent higher on tight supplies to close at 1,492 rupees per 100 kg, while the July wheat contract edged 0.41 percent up to 1,730 rupees per 100 kg.
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