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Indian soyoil futures rise, tracking overseas markets
February 28, 2017 / 1:25 PM / 10 months ago

Indian soyoil futures rise, tracking overseas markets

Feb 28 (Reuters) - Indian soyoil futures rose on Tuesday, tracking gains in the soyoil contract on the Chicago Board of Trade (CBOT) and Malaysian Palm.

March soyoil futures were up 1.3 percent at 663 rupees ($9.95) per 10 kg on the National Commodity & Derivatives Exchange Ltd (NCDEX) as of 1312 GMT.

The soybean oil contract on the CBOT was up 1.3 percent, while the benchmark palm oil futures for May on the Bursa Malaysia Derivatives Exchange ended the session 0.6 percent higher at 2,770 ringgits ($624) a tonne.

The most-actively traded Indian soybean futures rose 0.8 percent to 2,932 rupees per 100 kg on higher demand amid lower prices. The one-month soybean futures contract fell to a near four-year intraday low of 2,863 rupees on Thursday.

The April rapeseed contract rose 1.6 percent to 3,847 rupees per 100 kg after shedding 6.3 percent over the last 50 days.

The March corn futures were largely flat at 1,400 rupees per 100 kg. ($1 = 66.6400 Indian rupees) ($1 = 4.4380 ringgit) (Reporting by Sudarshan Varadhan; Editing by Sherry Jacob-Phillips)

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