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India oilseed futures may recover on global cues
June, 05th 2008

Indian soybean and rapeseed futures may open slightly higher on Thursday tailing a recovery in overseas markets, analysts said.

However, progress of monsoon in the country and a likely rise in soybean acreage may drive profit-taking in the later part of the day.

At 9:22 a.m., the benchmark palm oil August contract KPOc3 on the Bursa Malaysia Derivatives Exchange was up 0.20 percent at 3,447 ringgit per tonne.

Soybean July futures NSBN8 on the National Commodity and Derivatives Exchange ended down 2.05 percent at 2,408.5 rupees per 100 kg on Wednesday.

Rapeseed September futures NRSU8 ended down 0.77 percent at 655.12 rupees per 20 kg on Wednesday.

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