MUMBAI, Jan 14 (Reuters) - India soybean futures are likely to trade higher on Wednesday tracking gains in U.S. soybean and Malaysian palm, analysts said.
U.S. soybean futures extended gains on Wednesday, rising more than 1 percent as dry weather in South America and strong Chinese imports boosted the market amid firm crude oil prices. See [ID:nSP379769]
India, which imports a large part of its edible oil requirement, tracks international prices.
At 9.27 a.m. March futures KPOH9 on the Bursa Malaysia Derivatives Exchange were up 2.62 percent at 1,878 ringgit a tonne.
NCDEX February soybean NSBG9 ended at 2,131.5 rupees per 100 kg, down 2.34 percent in the previous session and February rapeseed NRSG9 ended at 508.23 rupees per 20 kg, down 2.07 percent.
Source : REUTERS INDIA