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Indian soyoil futures fall despite buoyancy overseas
March 1, 2017 / 12:34 PM / 7 months ago

Indian soyoil futures fall despite buoyancy overseas

March 1 (Reuters) - Indian soyoil futures fell on Wednesday despite a rise in the prices of soyoil contract on the Chicago Board of Trade (CBOT) and Malaysian Palm.

Malaysian palm oil futures jumped to a one-week high on Wednesday, supported by strong gains in Chicago Board of Trade soyoil.

As of 1224 GMT, March soyoil futures were down 1 percent at 668.50 rupees ($10.00) per 10 kg on the National Commodity & Derivatives Exchange Ltd (NCDEX).

The most-actively traded Indian soybean futures fell 0.5 percent to 2,922 rupees per 100 kg.

“Soyoil and soybean contracts are down mainly due to profit-booking,” said Faiyaz Hudani, analyst, Kotak Commodities Services Ltd.

The April rapeseed contract rose 1 percent to 3,885 rupees per 100 kg, while the March corn futures were largely flat at 1,403 rupees per 100 kg.

$1 = 66.8300 Indian rupees Reporting by Sudarshan Varadhan; Editing by Sherry Jacob-Phillips

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