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Indian rapeseed, corn futures fall to lowest levels in March
March 14, 2017 / 12:18 PM / 6 months ago

Indian rapeseed, corn futures fall to lowest levels in March

March 14 (Reuters) - The most actively traded Indian rapeseed and corn futures fell to their lowest levels this month on Tuesday.

The April rapeseed contract closed lower for the third straight session, dropping 0.8 percent at 3,805 Indian rupees ($57.88) per 100 kg on the National Commodity & Derivatives Exchange Ltd (NCDEX).

March corn futures fell for the fifth straight session, losing about 2 percent at 1,388 rupees per 100 kg.

“The whole market is in a bearish mode because of over-supply, particularly in the soybean and mustard seed markets,” a trader from central India said.

The most actively traded soybean futures were down 0.5 percent at 2,859 rupees.

Indian soyoil futures rose, tracking the soyoil contract on the Chicago Board of Trade (CBOT) and palm oil on the Bursa Malaysia Derivatives Exchange.

Soybean oil on the Chicago Board of Trade was up 0.2 percent, while Malaysian palm closed 1.1 percent higher.

As of 1155 GMT, March soyoil futures were up 0.4 percent at 647.10 Indian rupees per 10 kg. ($1 = 65.7450 Indian rupees) (Reporting by Sudarshan Varadhan; Editing by Amrutha Gayathri)

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