January 2, 2017 / 1:14 PM / 7 months ago

Indian soyoil, soybean rise on tight supplies

1 Min Read

Jan 2 (Reuters) - Indian soybean and soyoil futures rose on Monday, helped by tight supplies and higher demand.

The January soyoil contract on the National Commodity & Derivatives Exchange Ltd (NCDEX) was up 1.22 percent at 724.80 Indian rupees ($10.64) per 10 kg as of 1300 GMT, while soybean closed 1.3 percent higher at 3,068 rupees.

Indian wheat contract continued its downward spiral, with January futures slipping to 1,878 rupees, a fall of more than 250 rupees from the record high levels touched about two months ago.

The January rapeseed contract rose marginally to 4,350 rupees per 100 kg, while corn futures fell 0.5 percent to 1,421 rupees per 100 kg.

$1 = 68.1369 Indian rupees Reporting by Sudarshan Varadhan in New Delhi; Editing by Vyas Mohan

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