Indian rapeseed futures fell on Wednesday as arrivals of the new crop pressured prices even as dealers and millers stayed away from bulk buying due to a ceiling on the oilseeds' stocks they can maintain in top producing Rajasthan state, traders said.
The key April rapeseed contract on the National Commodity & Derivatives Exchange dropped 1.02 percent to 3,888 rupees ($57.29) per 100 kg. The March soyabean contract edged 0.05 percent lower to 3,773 rupees per 100 kg, tracking weak global markets. Malaysian palm oil futures reversed gains from a near 21-month high on Wednesday as bearish sentiment over weak exports overrode declining production. March soyaoil futures were 0.56 percent lower at 613.50 rupees per 10 kg at 1239 GMT due to expectations of higher vegetable oil imports.
SUGAR The most active March sugar contract was up 0.78 percent at 3,120 rupees per 100 kg as production of the sweetener is likely to be lower.
CORN, WHEAT March corn futures slipped 0.28 percent to 1,400 rupees per 100 kg, while the March wheat contract closed 0.87 percent down at 1,594 rupees per 100 kg.