Oilseed Futures Are Opening Up On Thursday - July 31, 2008

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.

India Oilseed Seen Up On Global Cues; Monsoon May Weigh - June 9, 2008

MUMBAI: Indian soybean and rapeseed futures may rise on Monday tracking a sharp price rise overseas, analysts said. At 9.35 am, benchmark August Malaysian palm oil contract on the Bursa Malaysia Derivatives Exchange rose 2.36 per cent to 3,685 ringgit.

However, the early progress of the monsoon into Maharashtra, the country's second biggest soybean grower, may weigh on the futures, analysts said. Soybean July futures on the National Commodity and Derivatives Exchange ended at 2,466.5 rupees per 100 kg in the previous session. Rapeseed September futures ended at Rs 664.15 per 20 kg on Saturday.