MUMBAI: Indian soybean futures extended losses for a third straight session, tracking a fall in overseas prices and on an estimated increase in production, while soyoil edged higher due to a rise in demand from north India and weakness in the rupee.
* Rapeseed futures rose on short-covering, after falling nearly 3.5 percent in previous three sessions.
* Malaysian palm oil futures were down 1.31 percent at 2,411 ringgit per tonne at 10 GMT.
* "Soybean prices are under pressure from increased supply as farmers who were earlier holding stocks, expecting higher prices, have started bringing their produce to spot markets," said Faiyaz Hudani, a senior analyst with Kotak Commodity Services.
* Demand for soyoil from north India is rising with the decline in temperature and this is supporting prices, Hudani said.
* A weak rupee makes edible oil imports expensive and at the same time raises returns of oilmeal exporters. The rupee was down in afternoon trade on Thursday.
* India fulfils more than half of its edible oil requirement through imports, mainly palm oil produced in Malaysia and Indonesia.
* The December soybean contract on India's National Commodity and Derivatives Exchange was down 0.42 percent at 3,239 rupees per 100 kg.
* The December soyoil contract was up 1.04 percent at 712.7 rupees per 10 kg, while rapeseed was up 0.29 percent at 4,167 rupees per 100 kg in choppy trade.
* India's soybean production in 2012/13 is expected to rise 8.8 percent on year to 12.67 million tonnes, while rapeseed output is likely to grow nearly 25 percent to 6.5 million tonnes, industry officials said.
* At the Indore spot market in Madhya Pradesh, soyoil rose by 12.05 rupees to 728.95 rupees per 10 kg, while soybean dropped by 2 rupees to 3,274 rupees per 100 kg. At Jaipur in Rajasthan, rapeseed was flat at 4,400 rupees.
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