Indian soyabean futures edge up on short-covering

Indian soyabean futures edged up on Thursday due to short-covering and patchy rains in some areas, while rapeseed gained on lower supplies at the fag end of the season. Malaysian palm oil futures ended up after earlier hitting a new three-month low, tracking other vegetable oils, as traders waited for fresh cues and monthly export data due soon.
The key August soyabean futures contract on the National Commodity and Derivatives Exchange rose 0.46 percent to 3,292 rupees per 100 kg. The soyabean producing regions of the western state of Maharashtra have received scanty rainfall in the past few days. The August rapeseed futures ended up 0.53 percent at 4,174 rupees per 100 kg.
The key August soyaoil contract was higher 0.61 percent at 574 rupees per 10 kg at 1217 GMT.
SUGAR Sugar futures rose to a two-week high on value-buying, with the key October contract quoted 1.32 percent higher at 2,231 rupees per 100 kg, even as fundamentals remained weak on ample supplies of the sweetener.
CORN, WHEAT The August corn contract rose 0.40 percent to 1,260 rupees per 100 kg on poor rains in maize-growing areas, while the August wheat contract shed 0.20 percent to 1,522 rupees per 100 kg.