MUMBAI: Indian oilseeds and soyoil futures edged higher Wednesday afternoon tracking a rise in the overseas market and an estimated fall in local rapeseed crop, though concerns the government may intervene to cool the prices capped the rise. * Malaysian palm oil futures climbed to an almost 13-month high on Wednesday, as traders continued to bet on a brighter demand outlook for palm oil following expectations of a smaller soybean crop in coming months. * May soyoil on India's National Commodity and Derivatives Exchange was up 0.63 percent at 761.3 rupees per 10 kg by 0931 GMT, after hitting a record high of 767.5 rupees earlier in the week. * "Fundamentals are supporting an upside in oilseeds, but sentiments are weak. Traders are worried the government may put restrictions on futures trade in soybean and rapeseed," said Sudha Acharya, an analyst at Kotak Commodity Services Ltd. * Rapeseed for May delivery was up 0.64 percent at 3,952 rupees per 100 kg, while May soybean rose 0.56 percent to 3,136 rupees per 100 kg, after hitting a record 3,185 rupees on Monday. * The commodity markets regulator will not be launching the September soybean contract because of the lean supply season, its chairman said Tuesday. * India's rapeseed output is estimated to drop 12.6 percent to 6.03 million tonnes in the current year to June, a trade body said on March 18. * In the Indore spot market in Madhya Pradesh, soyoil eased 0.75 rupee to 747.95 rupees per 10 kg, while soybean nudged down a rupee to 3,069 rupees per 100 kg. At Sri Ganganagar in Rajasthan, rapeseed fell 33 rupees to 3,793 per 100 kg.

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