December 29, 2016 / 12:07 PM / 8 months ago

Indian soyoil rises, wheat falls in light trading

Dec 29 (Reuters) - Indian soyoil futures weathered weaknesses abroad and rose on Thursday, a day after it pared early gains to close lower.

The January soyoil contract on the National Commodity & Derivatives Exchange Ltd (NCDEX) was up 0.5 percent at 718.45 rupees ($10.56) per 10 kg as of 1145 GMT, while soybean closed 0.3 percent lower at 3,024 rupees.

Indian wheat contract continued its downward spiral, with the January futures slipping to 1,906 rupees, a discount of about 250 rupees to the record high levels the prices touched over a month ago.

The January rapeseed contract was down 0.2 percent at 4,301 rupees per 100 kg, while corn futures rose 0.3 percent to 1,438 rupees per 100 kg. (Reporting by Sudarshan Varadhan in New Delhi; ; Editing by Biju Dwarakanath)

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