MUMBAI, May 18 (Reuters) - Indian oilseeds and soyoil futures edged higher on Tuesday afternoon on bargain-hunting driven by firmness in the overseas market and as an estimated drop in domestic rapeseed crop supported sentiment, analysts said. "Demand is improving at lower levels. Market is also taking cues from global market," said Chowda Reddy, senior analyst at JRG Wealth Management. U.S. corn and soybean futures rose on Tuesday following the U.S. Department of Agriculture (USDA) reporting a slower-than expected pace of planting crops in the U.S. Midwest after the market closed on Monday. See [ID:nSGE64G0M2] At 2:27 p.m., the June soybean contract NSBM0 on the National Commodity and Derivatives Exchange was up 0.33 percent at 1,950.5 rupees per 100 kg, while the June soyoil contract NSOM0 rose 0.51 percent to 445.45 rupees per 10 kg. At the Indore spot market in top producer Madhya Pradesh, soybean edged up a rupee to 1,940 rupees, and soyoil rose 1.20 rupees to 444.45 rupees. Malaysian palm oil futures remained unchanged by midday on Tuesday, tracking a cautious rebound in crude oil, traders said, after hitting nearly a four-month low the previous day. See [ID:nJAK488221] The June rapeseed contract NRSM0 was 0.02 percent up at 502.70 rupees per 20 kg. In the Jaipur spot market in Rajasthan, the country's top rapeseed producing state, the price nudged up 0.45 rupee to 493.05 rupees per 20 kg. Rapeseed harvest in India, the world's top edible oils buyer, is likely to be 6.59 million tonnes, down from the estimated 7.43 million in February and the actual production of 7.2 million tonnes last year, official data showed. See [ID:nSGE64B0AP] India's April oilmeal exports slumped 14.35 percent from a year earlier, falling for the sixth straight month, on low domestic crushing and as a strengthening rupee weakened demand from Vietnam and China, a trade body said. See [ID:nSGE6440BT] (Reporting by Rajendra Jadhav; Editing by Sunil Nair)

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