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Agri Commodities: Soyabean, soya oil, mustard decline in futures trade amid weak demand

Cottonseed oil cake prices on Thursday edged up by Rs 2 to Rs 2,079 per quintal in futures trade.

PTI|
Last Updated: Jan 16, 2020, 03.30 PM IST
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Coriander prices on Thursday fell Rs 24 to Rs 6,412 per quintal in futures trader.
Soybean prices fell by Rs 34 to Rs 4,202 per quintal in futures market on Thursday as traders cut down their positions amid weak cues from physical markets.

On the National Commodity and Derivatives Exchange, soybean contracts for January delivery moved down by Rs 34, or 0.80 per cent, to Rs 4,202 per quintal with an open interest of 9,490 lots.

Soybean for February delivery also eased by Rs 34, or 0.81 per cent, to Rs 4,166 per quintal with an open interest of 1,94,600 lots.

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

Soya oil

Refined soya oil prices fell Rs 14 to Rs 894 per 10 kg in futures trade on Thursday as speculators reduced holdings amid subdued demand at spot market.

On the National Commodity and Derivatives Exchange, refined soya oil for February delivery declined by Rs 14, or 1.54 per cent, to Rs 894 per 10 kg in 62,515 lots.

Refined soya oil contracts for March delivery dropped by Rs 18, or 2.10 per cent, to Rs 877.80 per 10 kg in 27,845 lots.

Market analysts said cutting down of positions by participants against ample stocks mainly influenced refined soya oil prices.

Mustard

Mustard seed prices dropped Rs 35 to Rs 4,332 per quintal in futures trade on Thursday as speculators cut down their positions on subdued demand.

On the National Commodity and Derivatives Exchange, mustard seed contracts for January delivery fell by Rs 35, or 0.80 per cent, to Rs 4,332 per quintal in a business turnover of 2,350 lots.

Mustard seed contracts for February delivery also declined by Rs 56, or 1.29 per cent, to Rs 4,290 per quintal in a business turnover of 13,950 lots.

Marketmen said offloading of positions by participants, following a weak trend in spot market, led to the fall in mustard seed prices. PTI

Guar seed
Guar seed prices on Thursday edged lower by Rs 30 to Rs 4,102 per 10 quintal in futures trade as participants reduced their holdings in line with a weak market trend.

Marketmen attributed the downward trend in guar seed prices to increasing supplies from growing regions.

On the National Commodity and Derivatives Exchange, guar seed contracts for February delivery fell by Rs 30, or 0.73 per cent, to Rs 4,102 per 10 quintal with an open interest of 88,505 lots.

Similarly, guar seed contracts for March delivery shed Rs 32, or 0.77 per cent, to Rs 4,144 per 10 quintal with an open interest of 3,280 lots.

Guar gum

Guar gum prices on Thursday dropped Rs 136 to Rs 7,188 per five quintal in futures market as traders offloaded their positions amid subdued demand.

Marketmen said trimming of positions by participants amid weak demand dragged down guar gum prices here.

On the National Commodity and Derivatives Exchange, guar gum contracts for January delivery slipped by Rs 136, or 1.86 per cent, to Rs 7,188 per five quintal in 395 lots.

Guar gum contracts for February delivery eased by Rs 73, or 0.99 per cent, to Rs 7,275 per five quintal in 58,905 lots.

Coriander

Coriander prices on Thursday fell Rs 24 to Rs 6,412 per quintal in futures trade as speculators reduced their positions amid sluggish demand in spot market.

On the Multi Commodity Exchange, coriander contracts for January delivery fell by Rs 24, or 0.37 per cent, to Rs 6,412 per quintal in 950 lots.

Similarly, coriander contracts for April delivery declined by Rs 38, or 0.54 per cent, to Rs 6,950 per quintal in 9,470 lots.

Market analysts said subdued demand in spot market mainly led to the decline in coriander prices in futures trade.

Cottonseed oil
Cottonseed oil cake prices on Thursday edged up by Rs 2 to Rs 2,079 per quintal in futures trade due to accumulation of positions by traders amid upbeat trend at spot market.

On the National Commodity and Derivatives Exchange, cottonseed oil cake contracts for February delivery rose by Rs 2, or 0.10 per cent, to Rs 2,079 per quintal in 95,600 lots.

Cottonseed oil cake contracts for March also rose by Rs 2, or 0.10 per cent, to Rs 2,106 per quintal in 13,840 lots.

Marketmen said raising of positions by participants amid rising demand from cattlefeed makers mainly influenced prices here.

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