Futures contracts of crude palm oil on the Bursa Malaysia Derivatives ended slightly higher due to bargain buying, after prices hit a near two-week low of 2,772 ringgits (42,648.72 rupees) per metric tonne earlier. Crude palm oil contracts on the Malaysian bourse rose also taking cues from soyoil contracts on the CBOT. A strong ringgit against the dollar, however, capped the gains. The most active January contract of crude palm oil on the Malaysian bourse ended at 2,785 ringgits per metric tonne, up 0.1% from the previous close.
NCDEX soybean contracts up 1% on bargain buying.
Futures contracts of soybean rose nearly 1% on NCDEX on bargain buying as prices fell over 3% in the last two trading sessions. the most-active December soybean contract was up 0.7% from previous close. Prices had declined in the previous sessions due to rising arrivals in the spot markets.
NAFED buys 11,789 metric tonne soybean in 3 states
The National Agricultural Cooperative Marketing Federation of India has procured 11,789 metric tonne kharif soybean under the price support scheme from Rajasthan, Telangana, and Maharashtra.
Mustard seed prices up in Jaipur as demand improves.
Mustard seed prices rose in benchmark market of Jaipur, Rajasthan, as demand for the oilseed from crushers and oil millers improved amid a fall in arrivals. Delayed sowing in key growing areas due to adverse weather conditions also supported mustard seed prices. Mustard oil mills across the country crushed 450,000 metric tonne of the oilseed in October, up nearly 6% from the previous month.