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Indian oilseeds fall on hopes of cap on soyabean

Indian oilseeds fell on expectations that key soyabean producing Madhya Pradesh state may impose a cap on the limit dealers and millers can hold, traders said. The January soyabean contract on the National Commodity & Derivatives Exchange dropped 3.1 percent to 3,689 rupees ($55.79) per 100 kg.

Hopes that the rapeseed yields, the main winter oilseed with the highest oil content, could be better despite lower planting and weak demand for mustard oil also hurt sentiment, traders said. January rapeseed futures ended 3.9 percent lower at 4,402 rupees per 100 kg. January soyaoil futures were down 1.05 percent to 617 rupees per 10 kg at 1226 GMT, tracking losses in soyabean.

SUGAR The most active March sugar contract was up 2.36 percent at 3,117 rupees per 100 kg on concerns over production as the first back-to-back drought in nearly three decades hit cane plantation in top producing Maharashtra state.

CORN, WHEAT January corn futures rose 1 percent to 1,512 rupees per 100 kg, while the January wheat contract shed 0.47 percent to close at 1,692 rupees per 100 kg.

Copyright Reuters, 2015