MUMBAI: Oilseed futures opened lower on Thursday tracking weak Malaysian palm, and on profit-taking after the previous session's sharp rise, analysts said.
At 11:14 am, palm oil October contract on the Bursa Malaysia Derivatives Exchange was down 1.11 per cent at 2,759 ringgit a tonne.
At 11:15 am, soybean September contract was 0.72 per cent lower at 2,428 rupees per 100 kg.
At 11:16 a.m, rapeseed November contract on NCDEX was down 0.32 per cent at 593.65 rupees per 20 kg.
Soybean and rapeseed are crushed to derive soyoil and rapeseed oil, which compete with palm oil and their prices usually move in tandem.
At 11:14 am, palm oil October contract on the Bursa Malaysia Derivatives Exchange was down 1.11 per cent at 2,759 ringgit a tonne.
At 11:15 am, soybean September contract was 0.72 per cent lower at 2,428 rupees per 100 kg.
At 11:16 a.m, rapeseed November contract on NCDEX was down 0.32 per cent at 593.65 rupees per 20 kg.
Soybean and rapeseed are crushed to derive soyoil and rapeseed oil, which compete with palm oil and their prices usually move in tandem.
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