India oilseeds futures end up; outlook firm

MUMBAI, May 9 (Reuters) - Indian rapeseed futures rose
sharply on Friday, breaching the first circuit breaker of 3
percent and ended higher due to a firm overseas market and a
rise in oilmeal exports from the country, analysts said.

Soybean futures also ended up.

The prices were supported by record crude oil prices
CLc1, which touched a new high at $125.98 a barrel on Friday,
pushing up the demand for oilseeds used to produce biofuel.

Rapeseed arrivals in Rajasthan, a major producer, were
almost steady at 90,000-120,000 bags of about 85 kg each.

Prices of rapeseed in the spot market in Jaipur rose 1.12
percent to 2,720 rupees per 100 kg.

"Mustard seed futures are projected to trade on positive on
account of improvement in buying interest from stockists and
millers," brokerage Karvy Comtrade Ltd, said in a report.

"Sliding arrivals in the physical market is providing
underlying support to the prices," it added.

India's oilmeal exports in April rose more than 46 percent
from the same month a year earlier to 637,500 tonnes due to
robust demand from Vietnam and South Korea, a leading trade
body said on Tuesday.

Following are the closing prices of rapeseed futures
<0#NRS:> in rupees per 20 kg and soybean futures <0#NSB:> per
100 kg on the National Commodity and Derivatives Exchange:

Contract Reuters Code Closing Price Change in %

=====================================================

Rapeseed

May NRSK8 580.40 3.04

July NRSN8 598.05 2.80

Soybean

May NSBK8 2,297.00 0.92

Jun NSBM8 2,287.50 0.99
(Reporting by Abhishek Shanker; editing by Sunil Nair)