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Agri Commodities: Soyabean, mustard, guar gum rise in futures trade amid strong demand

Soybean prices rose by Rs 13 to Rs 4,008 per quintal in futures trade on Thursday.

PTI|
Nov 21, 2019, 03.40 PM IST
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Agri Commodities: Guar gum, mustard seed, coriander gain on spot demand
Coriander prices on Thursday gained Rs 14 to Rs 6,959 per quintal in futures market.
Soybean prices rose by Rs 13 to Rs 4,008 per quintal in futures trade on Thursday as traders created fresh positions supported by strong spot demand.

At the National Commodity and Derivatives Exchange, soybean contract for December delivery was up by Rs 13, or 0.33 per cent, to Rs 4,008 per quintal with an open interest of 1,00,190 lots.

Soybean for January delivery also rose by Rs 12, or 0.30 per cent, to Rs 4,028 per quintal with an open interest of 99,390 lots.

Analysts said raising of fresh positions by speculators on higher demand mainly led to the rise in soybean prices here.

Soya oil
Refined soya oil prices on Thursday fell by Rs 3.3 to Rs 805.25 per 10 kg in futures trade as speculators reduced holdings amid subdued demand at spot market.

On the National Commodity and Derivatives Exchange, refined soya oil for delivery in December declined by Rs 3.3, or 0.41 per cent, to Rs 805.25 per 10 kg in 47,680 lots.

Analysts said offloading of positions by speculators on low demand against adequate stocks position mainly influenced refined soya oil prices here.

Mustard
Mustard seed prices on Thursday rose by Rs 8 to Rs 4,292 per quintal in futures trade as speculators raised their bets amid limited supplies.

Marketmen said apart from restricted arrivals from growing belts, demand from oil mills at spot market mainly lifted mustard seed prices here.

On the National Commodity and Derivatives Exchange, mustard seed for delivery in December rose Rs 8, or 0.19 per cent, to Rs 4,292 per quintal with an open interest of 34,570 lots.

Similarly, the delivery for January gained Rs 7, or 0.16 per cent, to Rs 4,288 per quintal with an open interest of 3,660 lots.

Guar gum
gum prices on Thursday advanced Rs 21 to Rs 7,970 per five quintal in futures trade as investors created fresh bets on firm spot demand.

On the National Commodity and Derivatives Exchange, guar gum contracts for December rose by Rs 21, or 0.26 per cent, to Rs 7,970 per five quintal with an open interest of 55,575 lots.

Similarly, January contracts rose by Rs 14, or 0.17 per cent, to Rs 8,073 per five quintal with an open interest of 14,180 lots.

Restricted arrivals from growing regions aided the rise in guar gum future prices, traders said.

Guar seed
Guar seed prices on Thursday rose Rs 6.5 to Rs 4,283.5 per 10 quintal in futures trade as participants built their positions driven by a firm trend at spot market.

On the National Commodity and Derivatives Exchange, guar seed contracts for December traded higher by Rs 6.5, or 0.15 per cent, to Rs 4,283.5 pe 10 quintal with an open interest of 80,570 lots.

For January contracts, guar seed futures gained Rs 2.5, or 0.06 per cent, to Rs 4,318 per 10 quintal with an open interest of 19,400 lots.

According to marketmen, raising of bets by speculators tracking a firm trend at spot market amid thin supplies from growing belts mainly led to rise in prices here.

Cottonseed
Cottonseed oil cake prices on Thursday fell by Rs 26 to Rs 2,136.5 per quintal in futures trade as participants reduced their bets amid a weak trend at the spot market.

Market players said sell-off by participants at existing levels amid subdued trend in market mainly weighed on cottonseed oil cake prices.

On the National Commodity and Derivatives Exchange, cottonseed oil cake to be delivered in December fell Rs 26, or 1.20 per cent, to Rs 2,136.5 per quintal in 54,340 lots.

Cottonseed oil cake for delivery in January next year went down by Rs 18, or 0.84 per cent, to Rs 2,128 per quintal in 36,170 lots. P

Coriander

Coriander prices on Thursday gained Rs 14 to Rs 6,959 per quintal in futures market as participants built up fresh positions amid rising spot demand.

Besides, tight stocks on account of restricted arrivals from major growing regions strengthened the prices.

On the National Commodity and Derivatives Exchange, coriander for November contracts edged higher by Rs 14, or 0.20 per cent, to Rs 6,959 per quintal with an open interest of 10,560 lots.

Market analysts attributed the rise in coriander futures to upsurge in demand in the physical market against tight stocks position.

On similar lines, the spice for delivery in December contracts was trading higher by Rs 4, or 0.06 per cent, to Rs 6,929 per quintal with an open interest of 2,750 lots.

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