September 25, 2009
Indian soy, soyoil futures seen up on firm oversea markets
Indian soy and soyoil futures are likely to open higher on Friday (Sep 25) on short-covering driven by firm overseas markets and hopes of improved demand during festivals, analysts said.
US corn and soy futures rallied on Friday on concerns that frost could damage late planted crops in the US Midwest before harvesting is completed.
The October soy contract NSBV9 on the National Commodity and Derivatives Exchange ended up 0.26 percent at Rs1,959 per 100 kg in the previous session.
The benchmark December palm oil futures KPOc3 on Bursa Malaysia Derivatives Exchange was at 2,126 ringgit a tonne, up 0.52 percent.
Harvesting of early sown oilseed crops, including soy, is likely to pick up in the coming days, which may push up supplies in the domestic market, they added.
US$1 = Rs48.031 (Sep 25)
