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Agri Commodities: Mustard, coriander, soya oil futures rise on spot demand

Soybean to be delivered in August contracts moved down by Rs 7 to Rs 3,626 per quintal.

PTI|
Jun 26, 2019, 03.15 PM IST
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The fall in soybean prices at futures trade was mostly due to reduction of exposure by participants, marketmen said.
New Delhi: Soybean prices fell by Rs 7 to Rs 3,626 per quintal in futures trade Wednesday as traders cut down their positions amid weak cues from physical markets.

On the National Commodity and Derivatives Exchange, soybean to be delivered in August contracts moved down by Rs 7, or 0.19 per cent, to Rs 3,626 per quintal with an open interest of 43,920 lots.

Soybean for delivery in September contracts also eased by Rs 7, or 0.2 per cent, to Rs 3,575 per quintal with an open interest of 1,690 lots.

The fall in soybean prices at futures trade was mostly due to reduction of exposure by participants, marketmen said.

Mustard seed

Mustard seed prices rose by Rs 18 to Rs 3,935 per quintal in futures trade Wednesday on positive demand from spot market.

Marketmen attributed the uptick in mustard seed prices to pick-up in demand from oil mills amid tight arrivals from producing belts in physical markets.

On the National Commodity and Derivatives Exchange, mustard seed for July contracts advanced by Rs 18, or 0.46 per cent, to Rs 3,935 per quintal with an open interest of 74,190 lots.

The delivery in August contracts, too, moved up by Rs 18, or 0.38 per cent, to trade at Rs 3,945 per quintal with an open interest of 31,140 lots.

Coriander

Coriander prices rose 0.42 per cent to Rs 6,885 per quintal in futures trade Wednesday as participants raised their positions, tracking a firm trend at the spot market.

On the National Commodity and Derivatives Exchange, coriander for delivery in July contracts advanced by Rs 29, or 0.42 per cent, to Rs 6,885 per quintal with an open interest of 10,920 lots.

Likewise, the spice for delivery in August contracts traded higher by Rs 32, or 0.46 per cent, to Rs 6,980 per quintal in 21,960 lots.

Analysts attributed the rise in coriander prices to widening of positions by speculators driven by a firm trend at the spot market.

Refined soya oil

Refined soya oil prices rose 0.25 per cent to Rs 740 per 10 kg in futures market Wednesday amid rising demand.

On the National Commodity and Derivatives Exchange, refined soya oil contracts for July delivery went up by Rs 1.85, or 0.25 per cent, to Rs 740 per 10 kg with an open interest of 47,220 lots.

Similarly, refined soya oil contracts for August delivery rose by Rs 2.2, or 0.30 per cent, to Rs 730 per 10 kg in 24,130 lots.

Analysts said widening of positions by traders, driven by improved demand in physical markets against restricted supplies from producing belts, mainly led to the price rise.

Cottonseed oil cake

Cottonseed oil cake prices rose by Rs 30 to Rs 2,789 per quintal in futures trade Wednesday tracking a positive trend at the spot market.

On the National Commodity and Derivatives Exchange, cottonseed oil cake to be delivered in July contracts went up by Rs 30, or 1.09 per cent, to Rs 2,789 per quintal with an open interest of 51,670 lots.

The rate for August delivery contracts, however, fell by Rs 9.5, or 0.34 per cent, to Rs 2,757 per quintal in 32,150 business lots.
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