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Agri Commodities: Soybean, coriander, mustard rise in futures trade amid strong demand

Cottonseed oil cake prices fell by Rs 7 to Rs 2,140 per quintal in futures trade on Friday.

PTI|
Last Updated: Oct 07, 2019, 02.42 PM IST
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On the National Commodity and Derivatives Exchange, soybean contracts for November delivery gained Rs 30, or 0.79 per cent, to Rs 3,824 per quintal in an open interest of 23,120 lots.
Refined soya oil prices were up 0.38 per cent to Rs 760 per 10 kg in futures trade on Monday as speculators raised their bets.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October month moved up by Rs 2.9, or 0.38 per cent, to Rs 760 per 10 kg with an open interest of 24,310 lots.

Similarly, the oil for delivery in November contracts edged up by Rs 3.35, or 0.44 per cent, to Rs 761.15 per 10 kg in 20,850 lots.

Analysts said widening of positions by traders helped refined soya oil prices to trade higher at futures trade here.

Soybean
Soybean prices traded higher by Rs 30 to Rs 3,824 per quintal in futures trade on Monday on the back of fresh positions built up by speculators.

On the National Commodity and Derivatives Exchange, soybean contracts for November delivery gained Rs 30, or 0.79 per cent, to Rs 3,824 per quintal in an open interest of 23,120 lots.

The delivery for December edged up by Rs 9, or 0.24 per cent, to Rs 3,696 per quintal with an open interest of 65,580 lots.

Marketmen said participants raised their holdings which mainly pushed soybean futures to trade higher.

Guar gum
Guar gum prices rose by Rs 79 to Rs 7,377 per five quintal in futures trade on Monday amid strong export demand at the spot market.

On the National Commodity and Derivatives Exchange, guar gum contracts for October delivery traded higher by Rs 79, or 1.08 per cent, at Rs 7,377 per five quintal with an open interest of 11,075 lots.

Guar gum for November delivery also rose by Rs 80, or 1.08 per cent, to Rs 7,497 per five quintal, mirroring an open interest of 53,405 lots.

Guar seed

Guar seed prices rose by Rs 23.5 to Rs 3,875.5 per 10 quintal in futures trade Monday as participants widened their holdings driven by a firm trend in the spot market.

On the National Commodity and Derivatives Exchange, guar seed contracts for October increased by Rs 23.5, or 0.61 per cent, to Rs 3875.5 per 10 quintal with an open interest of 24,690 lots.

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

Coriander
Coriander futures traded 2.25 per cent higher at Rs 5,825 per quintal in futures market on Monday as participants built up fresh positions.

Besides, tight stock position due to restricted arrivals from major growing belts weighed on coriander futures.

On the National Commodity and Derivatives Exchange, coriander contracts for October delivery rose by Rs 128, or 2.25 per cent, to Rs 5,825 per quintal with an open interest of 5,640 lots.

Market analysts attributed the rise in coriander futures to higher demand in physical market against restricted supply from producing regions.

Mustard seed
Mustard seed prices rose by Rs 32 to Rs 4,030 per quintal in futures trade on Monday as traders raised their holdings amid rise in demand at the spot market.

At the National Commodity and Derivatives Exchange, mustard seed for October delivery rose by Rs 32, or 0.8 per cent, to Rs 4,030 per quintal, clocking an open interest of 17,340 lots.

Similarly, mustard seed for November delivery rose by Rs 24, or 0.59 per cent, to Rs 4,011 per quintal with an open interest of 36,900 lots.

Marketmen said building up of fresh positions by participants due to limited supply mainly led to rise in mustard seed prices.

Cottonseed oil
Cottonseed oil cake prices fell by Rs 7 to Rs 2,140 per quintal in futures trade on Friday as participants reduced their positions amid low demand.

At the National Commodity and Derivatives Exchange, cottonseed oil cake for December delivery traded lower by Rs 7, or 0.33 per cent, at Rs 2,140 per quintal with an open interest of 47,290 lots.

Similarly, cottonseed oil cake for January slipped by Rs 1, or 0.05 per cent, at Rs 2,072 per quintal with an open interest of 18,660 lots.

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

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