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Jan 4 (Reuters) - Indian rapeseed futures fell on Wednesday as traders sold the January contracts to buy April contracts at a significant discount.
The January rapeseed contract closed 1.3 percent lower at 4,218 Indian rupees ($61.96) per 100 kg, still more than 320 rupees higher than the April futures contract, which was trading at 3,897 rupees.
* March sugar futures were down 0.2 percent to 3,823 rupees per 100 kg in high volumes. Sugar trading volumes on the National Commodity & Derivatives Exchange Ltd (NCDEX) have improved ever since the exchange said last month it would cut the special cash margin for buying sugar futures by 40 percentage points.
Soyoil and soybean contracts were lower in low volumes, reflecting overseas sentiment, a trader said.
The January soyoil contract on the NCDEX was marginally down at 726.15 rupees per 10 kg as of 1205 GMT, while soybean closed 0.8 percent lower at 3,018 rupees.
Malaysian palm oil futures fell on Wednesday evening after two sessions of gains, tracking oilseed soy. The May soybean oil contract on the Dalian Commodity Exchange dropped as much as 1.8 percent.
* January corn futures lost a rupee to close at 1,415 rupees per 100 kg, while the January wheat contract settled 1.1 percent higher at 1,881 rupees per 100 kg. ($1 = 68.0783 Indian rupees) (Reporting by Sudarshan Varadhan in New Delhi; Editing by Amrutha Gayathri)