India soybean futures fall, chickpeas rise on output concerns

MUMBAI, Dec 17 (Reuters): Indian soybean futures fell on Tuesday tracking a sluggish international market while rapeseed edged up on thin supply of the old crop in spot markets.
U.S soybean futures fell due to lighter-than-expected monthly usage in the United States.
The key January soybean contract ended 0.84 per cent lower at 3,289 rupees per 100 kg on the National Commodity and Derivatives Exchange while the January rapeseed contract ended 0.57 per cent up at 4,055 rupees per 100 kg.
At 1259 GMT, the key January soyoil contract was down 0.10 per cent at 592.50 rupees per 10 kg.
India's palm oil imports could drop for a second straight month in December as local crushing of the soybean crop gathers momentum, a leading trading company said.
Indian guar seed futures fell due to weak export demand from the oil industry, though a fall in local supplies could support prices in the next trading session.
The January contract ended 2.90 per cent lower at 4,290 rupees per 100 kg.
Food firms are also buyers and the sector is likely to take more this year as traders scout out new markets, but it will be hard to match the impact made by oil industry demand in recent years.
Indian chana, or chickpea, futures ended higher on slow sowing operations and unfavourable weather.
The January contract ended up 2.05 per cent at 3,185 rupees per 100 kg.
Chana is likely to open up on Wednesday.
Jeera, or cumin seed, futures edged down on good sowing progress, though export demand restricted the downside.
The key January contract edged down 0.07 per cent to close at 13,185 rupees per 100 kg.
Indian sugar futures were down, weighed by crushing operations in a few states and on weak demand and ample supplies.
The key March contract was quoted 1.55 per cent down at 2,670 rupees per 100 kg.
Turmeric futures fell on large stocks and weak exports.
Turmeric futures are likely to open weak on Wednesday.
The key April contract closed down 1.20 per cent at 7,882 rupees per 100 kg.
The January corn contract was 0.59 per cent higher at 1,194 rupees per 100 kg, while January wheat was up 0.12 per cent to 1,668 rupees per 100 kg.