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    Agri Commodities: Soybean, guar seed, coriander futures up on spot demand

    Synopsis

    Widening of portfolios by investors mainly gave push to soybean prices at futures trade.

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    Marketmen attributed the rise in guar seed prices to raising of positions by participants triggered by a firm trend at the spot market.
    New Delhi: Soybean prices inched up by Rs 9 to Rs 3,614 per quintal in futures trade Tuesday supported by a strong spot demand.

    Marketmen said, widening of portfolios by investors mainly gave push to soybean prices at futures trade.

    At the National Commodity and Derivatives Exchange, soybean to be delivered in July contracts moved up by Rs 9, or 0.25 per cent, to Rs 3,614 per quintal with an open interest of 87,710 lots.

    Guar seed

    Guar seed prices advanced by Rs 10 to Rs 4,243 per 10 quintal in futures trade Tuesday as participants widened their bets buoyed by a firming trend at the spot market.

    At the National Commodity and Derivatives Exchange, guar seed for July contracts delivery hardened by Rs 10, or 0.24 per cent, to Rs 4,243 per 10 quintal with a business turnover of 101,870 lots.

    Guar seed for delivery in August contracts also rose by Rs 12, or 0.28 per cent, to Rs 4,304 per 10 quintal with an open interest of 45,890 lots.

    Marketmen attributed the rise in guar seed prices to raising of positions by participants triggered by a firm trend at the spot market.

    Guar gum

    Guar gum prices rose by Rs 16 to Rs 8,547 per 5 quintal in futures trade Tuesday amid upbeat export demand at the physical markets.

    On the National Commodity and Derivatives Exchange, guar gum for delivery in July contracts traded higher by Rs 16, or 0.19 per cent, to Rs 8,547 per 5 quintal showing an open interest of 49,260 lots.

    The delivery for July contracts was also up by Rs 15, or 0.17 per cent, to Rs 8,675 per 5 quintal mirroring an open interest of 18,375 lots.

    Mustard seed

    Mustard seed prices advanced by Rs 17 to Rs 3,790 per quintal in futures trade Tuesday as traders built-up positions amid positive cues from physical markets.

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

    On the National Commodity and Derivatives Exchange, mustard seed for July delivery advanced by Rs 17, or 0.21 per cent, to Rs 3,790 per quintal with an open interest of 86,550 lots.

    Also, the delivery for August moved up by Rs 4, or 0.1 per cent, to trade at Rs 3,921 per quintal with an open interest of 21,310 lots.

    Coriander

    Coriander prices rose 0.38 per cent to Rs 6,857 per quintal in futures trade Tuesday as participants enlarged their positions, tracking a firm trend at the spot market.

    At the National Commodity and Derivatives Exchange, coriander contracts for July delivery advanced by Rs 26, or 0.38 per cent, to Rs 6,857 per quintal with an open interest of 24,810 lots.

    Similarly, coriander contracts for August delivery traded higher by Rs 18, or 0.26 per cent, at Rs 6,944 per quintal in 7,500 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.

    Cottonseed oil cake

    Cottonseed oil cake prices dipped by Rs 43 to Rs 2,688 per quintal in futures trade Tuesday, tracking a muted trend at physical markets.

    On the National Commodity and Derivatives Exchange, cottonseed oil cake contracts for July delivery fell by Rs 43, or 1.57 per cent, to Rs 2,688 per quintal with an open interest of 51,760 lots.

    Cottonseed oil cake for August delivery also traded down by Rs 49, or 1.77 per cent, at Rs 2,717 per quintal.
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