Indian soyabean shed gains on profit booking while rapeseed edged up in a lacklustre session on Thursday, due to a lack of cues from most spot markets, which were closed for a local holiday. The February soyabean contract on the National Commodity & Derivatives Exchange edged 0.13 percent lower to 3,793 rupees ($56.25) per 100 kg.
Earlier in the session, soyabean rose to 3,838 rupees, its highest level since January 5. The key April rapeseed futures ended 0.22 percent up at 4,149 rupees per 100 kg. Traders expect rapeseed to remain range-bound until the arrival of the new crop in March.
February soyaoil futures were up 0.17 percent at 602.40 rupees per 10 kg at 1211 GMT.
SUGAR The most active March sugar contract was down 0.09 percent at 3,215 rupees per 100 kg. Sugar will trade sideways to gain and will remain in the range of 3,290 rupees to 3,300 rupees in the next one month, said Anuj Gupta, assistant vice president (research) at Angel Commodity Broking.
Farmers from key sugar-growing Maharashtra are being forced to replace cane with less water-intensive crops, as a drought forces authorities to hold back water from dams.
CORN, WHEAT February corn futures fell 0.74 percent to 1,466 rupees per 100 kg, while the February wheat contract closed 0.12 percent up at 1,682 rupees per 100 kg.
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