Indian oilseeds up on low sowing, crude oil
Indian soybean and rapeseed futures opened up on Monday morning tracking firm crude oil prices and on a delay in soybean sowing in main producing states.
MUMBAI: Indian soybean and rapeseed futures opened up on Monday morning tracking firm crude oil prices and on a delay in soybean sowing in main producing states, analysts said.
At 10:48 a.m. soybean August futures on the National Commodity and Derivatives Exchange rose 0.77 pc to 2,739 rupees per 100 kg. The September rapeseed contract was up 0.36 pc at 688.60 rupees per 20 kg.
Soybean sowing has been delayed in Madhya Pradesh and Maharashtra, main producing states, due to lower rainfall. Crude oil prices were up at over $140 a barrel raising demand for biofuel from oilseeds.
At 10:49 a.m., the July contract on the Chicago Board of Trade was up 0.74 pc at $15.93-�� a bushel.
At 10:48 a.m. soybean August futures on the National Commodity and Derivatives Exchange rose 0.77 pc to 2,739 rupees per 100 kg. The September rapeseed contract was up 0.36 pc at 688.60 rupees per 20 kg.
Soybean sowing has been delayed in Madhya Pradesh and Maharashtra, main producing states, due to lower rainfall. Crude oil prices were up at over $140 a barrel raising demand for biofuel from oilseeds.
At 10:49 a.m., the July contract on the Chicago Board of Trade was up 0.74 pc at $15.93-�� a bushel.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
