Indian soyaoil futures rise

Indian soyaoil futures rose for a second consecutive session on Thursday, tracking Malaysian palm oil and other overseas markets. Malaysian palm oil futures rose to their highest in 4-1/2-years, charting a third straight session of gains, on a weaker ringgit and tight supplies. In related vegetable oils, the January soyabean oil contract on the CBOT was 0.3 percent higher, while the May soyabean oil contract on the Dalian Commodity Exchange rose as much as 0.5 percent.
The most-active January soyaoil contract on the National Commodity & Derivatives Exchange Ltd (NCDEX) was up 0.5 percent at 727.40 rupees ($10.72) per 10 kg as of 1310 GMT. January soyabean futures fell 0.3 percent to 3,080 rupees per 100 kg, a day after rising on prospect of tighter supplies. The January rapeseed contract fell 0.2 percent to 4,564 rupees per 100 kg. December corn futures fell 0.4 percent to 1,420 rupees per 100 kg. India's most-actively traded January wheat contract settled 0.4 percent lower at 2,016 rupees per 100 kg.