MUMBAI, Aug 20 (Reuters) - Indian oilseed futures may rise on Wednesday tracking a firm palm oil futures in Malaysia, analysts said.
Soybean September contract NSBU8 on National Commodity and Derivatives Exchange ended down 1.66 percent at 2,494 rupees per 100 kg on Tuesday.
Malaysian crude palm oil futures jumped 3.3 percent on Wednesday, bouncing from year-lows hit the previous day, as strength in crude oil and soyoil markets spurred fresh buying. See [ID:nKLA007846]
Soybean and rapeseed are crushed to derive soyoil and rapeseed oil, which compete with palm oil, and hence their prices usually move in tandem.
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