Indian soft commodities edge higher on steady demand

REUTERS - Indian soyoil futures edged up on Wednesday, tracking a rise in oils on the Chicago Board of Trade (CBOT) and China's Dalian Commodity Exchange.

The December soybean oil contract on the CBOT was up 0.6 percent, while the January soybean oil contract on the Dalian Commodity Exchange rose 1.4 percent.

The December soyoil futures on the National Commodity & Derivatives Exchange (NCDEX) climbed about 1 percent to 680.10 rupees ($10.00) per 10 kg at 1229 GMT.

The soybean contract settled 1.4 percent higher at 3038 rupees per 100 kg on higher demand.

The December sugar contract rose in relatively high volumes for the second straight day by about 0.4 percent to 3484 rupees per 100 kg, driven by higher demand due to the ongoing wedding season in India.

Sugar trading was muted for a few days following the Indian government's sudden decision to withdraw larger banknotes, but has now picked up.

RAPESEED

* The December rapeseed contract rose 1 percent to 4554 rupees per 100 kg.

CORN, WHEAT

* December corn futures gained 1 percent to close at 1425 rupees per 100 kg.

* The December wheat contract rose 0.6 percent to 2030 rupees per 100 kg.

The Indian government on Tuesday decided to raise the price at which it will buy new-season wheat from domestic farmers in 2017 by 100 rupees.

($1 = 68.0249 rupees)

(Reporting by Sudarshan Varadhan in New Delhi; Editing by Sherry Jacob-Phillips)