India soy, soyoil future seen up CBOT gains

Indian soy and soyoil futures may reverse the previous day's losses to rise on Tuesday (May 19) morning, tracking overnight gains on Chicago Board of Trade (CBOT) and gains on Malaysian palm oil markets, analysts said.

CBOT soy futures closed higher on Monday (May 18) on fund buying tied to rallying stocks and crude oil as the dollar sagged.

June soy contract on the National Commodity and Derivatives Exchange (NCDEX) ended down 1.54 percent at Rs2,691 per 100 kilogrammes on Monday (May 18), while June soyoil contract fell 1.43 percent to Rs498.4 per 10 kilogrammes.

US$1 = Rs47.510 (May 19)