Jan 30 (Reuters) - Indian soybean and soyoil futures edged higher on Thursday on a weaker rupee and as edible oil prices rose overseas. * Rapeseed futures eased on a likely rise in production due to higher acreage and conducive weather. * Malaysian palm oil futures ended in positive territory for the second successive day on Thursday, with traders citing short-covering ahead of a long weekend and favourable currencies. * "Depreciating rupee and gains in overseas markets are supporting soybeans," said Vandana Bharti, associate vice president, research at SMC Comtrade. * "Local fundamentals are bearish. Exports demand for soymeal is falling." * At 0830 GMT, the key March soybean contract was up 0.85 percent at 3,776 rupees per 100 kg on the National Commodity and Derivatives Exchange. * A weaker rupee makes edible oil imports expensive but raises returns of oilmeal exporters. The rupee fell on Thursday. * The March soyoil contract was up 0.30 percent at 671.80 rupees per 10 kg, while the rapeseed contract for April eased 0.27 percent to 3,360 rupees per 100 kg. * Soybeans rose 22 rupees to 3,992 rupees per 100 kg at the Indore spot market in Madhya Pradesh state, while soyoil edged up by 0.35 rupee to 693.35 rupees per 10 kg. Rapeseed eased 3 rupees to 3,491 rupees in Jaipur in Rajasthan state. (Reporting by Rajendra Jadhav; Editing by Anand Basu)

Source