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Agri Commodities: Soya oil, guar gum, mustard seed futures gain on spot demand

Refined soya oil contracts for August went up by Rs 1.15 to Rs 737.4 per 10 kg.

PTI|
Jul 04, 2019, 03.04 PM IST
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Analysts attributed the rise in coriander prices to widening of positions by speculators, driven by a firm trend at the spot market on strong demand.
New Delhi: Refined soya oil prices advanced 0.16 per cent to Rs 737.4 per 10 kg in futures trade Thursday as speculators raised their positions on the back of spot demand.

On the National Commodity and Derivatives Exchange, refined soya oil contracts for August went up by Rs 1.15, or 0.16 per cent, to Rs 737.4 per 10 kg with an open interest of 5,380 lots.

Similarly, refined soya oil contracts for September were trading higher by Rs 1.30, or 0.18 per cent, at Rs 726.5 per 10 kg in 28,250 lots.

Analysts said expanding of positions by traders on higher demand at the spot market mainly kept refined soya oil prices higher.

Guar gum

Guar gum prices rose by Rs 15 to Rs 8,475 per five quintal in futures trade Thursday amid strong export demand at physical markets.

On the National Commodity and Derivatives Exchange, guar gum contracts for July delivery traded higher by Rs 15, or 0.18 per cent, at Rs 8,475 per five quintal, showing an open interest of 20,985 lots.

Guar gum contracts for August also rose by Rs 20, or 0.23 per cent, to Rs 8,635 per five quintal mirroring an open interest of 45,320 lots.

Soybean

Soybean prices fell by Rs 40, to Rs 3,626 per quintal in futures trade Thursday after participants cut down their bets tracking negative cues from the physical market.

Besides, muted demand for soybean attributed the fall in prices, marketmen said.

Soybean for August contracts fell by Rs 40, or 1.09 per cent, to Rs 3,626 per quintal clocking an open interest of 39,500 lots.

On the National Commodity and Derivatives Exchange, soybean for September contracts eased by Rs 6, or 0.16 per cent, to Rs 3,666 per quintal having an open interest of 8,380 lots.

Mustard seed

Mustard seed prices rose to Rs 3,933 per quintal in futures trade Thursday as participants widened their holdings, tracking a firm trend at the spot market.

On the National Commodity and Derivatives Exchange, mustard seed contracts for July rose by Re 1, or 0.03 per cent, to Rs 3,933 per quintal with an open interest of 46,710 lots.

Mustard seed contracts for August advanced by Rs 11, or 0.28 per cent, to Rs 3,964 per quintal in 55,670 lots.

Marketmen said strong demand from oil millers mainly pushed up the prices.

Coriander

Coriander prices rose 0.84 per cent to Rs 7,050 per quintal in futures trade Thursday as participants enlarged their positions, tracking a firm trend at the spot market.

On the National Commodity and Derivatives Exchange, coriander contracts for July delivery advanced by Rs 59, or 0.84 per cent, to Rs 7,050 per quintal with an open interest of 9,120 lots.

Similarly, coriander contracts for August delivery traded higher by Rs 60, or 0.85 per cent, at Rs 7,144 per quintal in 23,830 lots.

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