January 3, 2018 / 12:07 PM / a year ago

Indian soyoil futures rise for 4th straight session

NEW DELHI, Jan 3 (Reuters) - Indian soyoil futures were set to close higher for the fourth straight session on Wednesday, tracking gains in the edible oil on the Chicago Board of Trade (CBOT) and stronger Malaysian palm oil.

January soyoil futures were up 1 percent at 735 rupees ($11.57) per 10 kg on the National Commodity and Derivatives Exchange as of 1205 GMT.

The March soybean oil contract on the Chicago Board of Trade was up 0.6 percent, while May soybean oil on the Dalian Commodity Exchange was up 0.2 percent.

Malaysian palm oil futures surged nearly 3 percent to their highest in a month on Wednesday on expectations for strengthening demand in coming weeks.

Indian rapeseed futures were up 0.2 percent at 3,954 rupees, while the January soybean futures closed 0.7 percent higher at 3,098 rupees. ($1 = 63.5300 Indian rupees) (Reporting by Sudarshan Varadhan; Editing by Biju Dwarakanath)

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