Futures contracts of most components of the edible oil basket, barring soybean and soymeal. After hitting a fresh one-month high, the most active May soybean contract on the NCDEX closed 0.1% higher due to a pick-up in demand from crushers and soymeal exporters. A rise sharp was prevented by the forecast of normal monsoon rains this year by the IMD. This year, India is likely to record a normal southwest monsoon for the second consecutive year, despite the threat of El Nino conditions developing over equatorial Pacific regions. The southwest monsoon rainfall over India is likely to be 96% of the long period average. Weakness in benchmark contracts on the CBOT also prevented a sharp rise in prices on domestic exchanges. Futures contracts of soyoil on the NCDEX, and crude palm oil, and refined bleached and deoderised palmolein on the multi Commodity Exchange fell due to sluggish purchases in spot markets and hope of higher global output of soybean and palm oil this year.