December 29, 2017 / 11:59 AM / 6 months ago

Indian soyoil futures set to fall for a second straight session

NEW DELHI, Dec 29 (Reuters) - Indian soyoil futures were set to close lower for a second straight session on Friday, tracking losses in soyoil on the Chicago Board of Trade (CBOT) and Malaysian palm oil.

Indian January soyoil futures were down 0.2 percent at 720 Indian rupees ($11.27) per 10 kg on the National Commodity and Derivatives Exchange as of 1141 GMT.

Malaysian palm oil fell on Friday evening in a second day of declines, weighed down by a stronger ringgit, its currency of trade.

The March soybean oil contract on CBOT dropped 1.7 percent in its previous session.

May soybean oil on the Dalian Commodity Exchange was down 0.6 percent, while the Dalian January palm oil contract fell 0.3 percent.

Indian rapeseed futures were up 0.2 percent at 3,948 rupees, while the January soybean futures closed 1.4 percent lower at 3,059 rupees.

$1 = 63.8700 Indian rupees Reporting by Sudarshan Varadhan; Editing by Amrutha Gayathri

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