Indian soyabeans futures rise on output concerns

17 May, 2015

Indian soyabeans futures rose on Friday on thin supplies in spot markets and on concerns below-normal monsoon rains may adversely affect the oilseed's output, while rapeseed eased on a drop in Malaysian palm oil prices. Malaysian palm oil futures eased further from 5-week highs hit earlier in the week, although strong export data from the world's No 2 producer of the edible oil helped prices post a second straight weekly gain.
At 1200 GMT, the key June soyaoil contract on the National Commodity and Derivatives Exchange was up 0.36 percent at 607 rupees per 10 kg. The June soyabean futures ended 1.1 percent higher at 4,103 rupees per 100 kg, while the June rapeseed contract eased 0.25 percent to 4,052 rupees per 100 kg.

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