India Edible Oil Extend gains, soybean hits high

The futures contracts of all components of the edible oil basket rose on the domestic exchanges. The most active February contract of soybean on the NCDEX hit an over 17-month high of 3,589 rupees per 100 kg today, taking cues from spot markets where prices were up due to higher demand from oil millers. The supply of the oilseed is expected to fall in the coming days which is seen supporting the prices