India soybean, soyoil futures jump on global cues, rapeseed drops

NEW DELHI, Sept 14 (Reuters): Indian soybean and soyoil futures rose on Friday in line with the global market where the palm oil contract touched its highest in over three weeks.
Malaysian palm oil futures edged up to touch their highest in over three weeks on Friday, with prices recording a second straight weekly gain thanks to firm soyoil markets overseas and a surge in crude palm oil export demand.
Indian soymeal exports plummeted in August and are expected to remain weak until the year-end when the new crop arrives, as poor supplies and high prices of the animal feed drive traditional buyers away from the leading Asian supplier.
At 12:59 GMT, the key October soyoil contract was up 1.33 per cent at 575 rupees per 10 kg.
The key October soybean contract on the National Commodity & Derivatives Exchange closed 0.19 per cent higher at 3,177 rupees per 100 kg.
The October rapeseed contract finished down 0.39 per cent at 3,587 rupees per 100 kg.