Sugar slipped as the country is expecting a bumper cane crop and crushing is picking up after a delayed start while gold was trading higher in line with global trends.
November soyaoil at the Multi Commodity Exchange (MCX) fell 2.50 rupees to 346.25 rupees per 10 kg. December soyaoil at the National Commodities and Derivatives Exchange (NCDEX) fell 1.55 rupees to 354.10 rupees.
"The market will continue to remain depressed in the coming weeks because of good arrivals," one Indoor-based trader said. Wheat futures rose after falling on Wednesday because of talk about imports.
"Stocks are coming down and that is weighing on the market," one broker said. He said wheat prices were expected to firm up unless the government announced plans to import grains.
December wheat at the NCDEX rose 1.40 rupees to 861.60 rupees per 100 kg. The Food Ministry said on September 1 India had 11.3 million tonnes of wheat and 7.07 million tonnes of rice.
Indians tend to consume about 1.5 million tonnes of wheat a month but consumption increases in the north in the winter months, beginning November.
The government has postponed its decision to open wheat imports but said it will look at the issue at the end of the month when sowing for the new crop is nearly complete.
Sugar prices fell as crushing picked up after a delayed start because of late monsoon rains.
The country's sugar production is expected to rebound to about 18.5 million tonnes in the year to September 2006 from around 13 million tonnes last year.