MUMBAI: Oilseed futures are seen opening up on Thursday, tracking firm global markets, analysts said. US soy futures closed higher on Wednesday on late short-covering, led up by a rally in corn and crude oil, traders said.
However, revival of monsoon after a lull may accelerate sowing operations, improving prospects for oilseed crop and depressing prices.
Soybean August futures on the National Commodity and Derivatives Exchange ended 1.30 percent up at 2,604.5 rupees per 100 kg on Wednesday. Rapeseed September contract on NCDEX ended up 1.45 percent at 631.80 rupees per 20 kg on Wednesday.
At 9:25 a.m., the benchmark October contract on the Bursa Malaysia Derivatives Exchange was up 1.77 percent at 3,045 ringgit a tonne.
However, revival of monsoon after a lull may accelerate sowing operations, improving prospects for oilseed crop and depressing prices.
Soybean August futures on the National Commodity and Derivatives Exchange ended 1.30 percent up at 2,604.5 rupees per 100 kg on Wednesday. Rapeseed September contract on NCDEX ended up 1.45 percent at 631.80 rupees per 20 kg on Wednesday.
At 9:25 a.m., the benchmark October contract on the Bursa Malaysia Derivatives Exchange was up 1.77 percent at 3,045 ringgit a tonne.
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