MUMBAI | Wed Nov 3, 2010 9:16am IST
Nov 3 (Reuters) - India oilseeds, soyoil futures are likely to edge higher on Wednesday morning tracking overseas markets, but rising arrivals could limit the upside, analysts said.
U.S. soybean Sc1 was trading 0.14 percent higher at $12.25-½ a bushel, while the benchmark January 2011 crude palm oil contract KPOc3 on Bursa Malaysia Derivatives was 0.03 percent higher at 3,091 ringgit per tonne at 9:02 a.m.
November soybean futures contract NSBX0 on India's National Commodity and Derivatives Exchange (NCDEX) closed 0.3 percent higher at 2,209.5 rupees per 100 kg on Tuesday.
November soyoil NSOX0 closed 0.06 percent higher at 530.8 rupees per 10 kg, while rapeseed for November delivery NRSX0 closed 0.6 percent lower at 558.75 rupees per 20 kg.
Soybean arrivals are seen rising as rains over growing areas have finally stopped, boosting harvest operations, analysts said.
India's oilmeal exports in September rose 53 percent from a year ago, its third straight monthly rise, owing to higher demand from traditional buyers in Japan and China, data from a trade body showed
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