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Agri Commodities: Soybean, soya oil, guar gum futures fall on weak demand

New Delhi: Soybean prices fell by Rs 26 to Rs 3,616 per quintal in futures trade Wednesday on subdued cues from the market.

At the National Commodity and Derivatives Exchange, soybean contracts for July delivery fell by Rs 26, or 0.71 per cent, to Rs 3,616 per quintal with an open interest of 1,05,890 lots.

Soybean contracts for August delivery also dipped by Rs 20, or 0.55 per cent, to Rs 3,640 per quintal with an open interest of 25,970 lots.

Refined soya oil

Refined soya oil prices Wednesday eased 0.46 per cent to Rs 740 per 10 kg in futures trade as speculators trimmed bets, triggered by adequate stocks at the spot market.

At the National Commodity and Derivatives Exchange, refined soya oil for July contracts declined by Rs 3.4, or 0.46 per cent, to Rs 740 per 10 kg with an open interest of 47,240 lots.

Likewise, the oil for August contracts fell by Rs 2.35, or 0.32 per cent, to Rs 728.55 per 10 kg in 19,740 lots.

Market analysts said, cutting down of positions by participants due to decline in demand against ample stocks mainly influenced the prices.

Guar gum

Guar gum prices dropped by Rs 43 to Rs 8,558 per 5 quintal in futures trade Wednesday as traders cut bets on subdued physical sentiments amid lower export demand.

At the National Commodity and Derivatives Exchange, guar gum for delivery in July eased by Rs 43, or 0.5 per cent, to Rs 8,558 per 5 quintal with an open interest of 58,005 lots.

Similarly, the August-delivery contract shed Rs 42, or 0.48 per cent, to Rs 8,677 per 5 quintal with an open interest of 7,050 lots.

Marketmen said, off-loading of positions by investors and weak export demand from oil drilling industries mainly dragged down guar gum prices in futures trade.

Guar seed

Guar seed prices fell by Rs 17 to Rs 4,256 per 10 quintal in futures trade Wednesday as investors offloaded positions amid a weak trend at the physical markets.

On the National Commodity and Derivatives Exchange, guar seed contracts for July delivery moved down by Rs 17, or 0.40 per cent, to Rs 4,256 per 10 quintal with an open interest of 1,16,240 lots.

Similarly, guar seed contracts for August eased by Rs 14, or 0.32 per cent, to Rs 4,317.5 per 10 quintal with an open interest of 30,710 lots.

Marketmen said cutting down of positions by participants, following a weak trend at the spot market on muted demand from guar gum makers, mainly led to the fall in prices here.
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