Indian soyabean futures edge up on short-covering

02 Aug, 2015

Indian soyabean futures edged up on Thursday due to short-covering and patchy rains in some areas, while rapeseed gained on lower supplies at the fag end of the season. Malaysian palm oil futures ended up after earlier hitting a new three-month low, tracking other vegetable oils, as traders waited for fresh cues and monthly export data due soon.
The key August soyabean futures contract on the National Commodity and Derivatives Exchange rose 0.46 percent to 3,292 rupees per 100 kg. The soyabean producing regions of the western state of Maharashtra have received scanty rainfall in the past few days. The August rapeseed futures ended up 0.53 percent at 4,174 rupees per 100 kg.
The key August soyaoil contract was higher 0.61 percent at 574 rupees per 10 kg at 1217 GMT.

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