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Agri commodities: Soybean, soya oil, mustard seed futures dip on soft demand

Refined soya oil prices on Wednesday fell by 55 paise to Rs 802.30 per 10 kg in futures trade.

PTI|
Nov 27, 2019, 02.37 PM IST
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Mustard seed prices on Wednesday moved down by Rs 28 to Rs 4,306 per quintal in futures trade as traders reduced their holdings coupled with a weak trend at the spot market.
New Delhi: Soybean prices on Wednesday fell by Rs 27 to Rs 4,015 per quintal in futures market as traders cut down their positions amid weak cues from physical markets.

On the National Commodity and Derivatives Exchange, soybean to be delivered in December contracts moved down by Rs 27, or 0.67 per cent, to Rs 4,015 per quintal with an open interest of 79,900 lots.

Soybean for delivery in January contracts also eased by Rs 19, or 0.47 per cent, to Rs 4,050 per quintal with an open interest of 1,18,640 lots.

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

Refined soya oil

Refined soya oil prices on Wednesday fell by 55 paise to Rs 802.30 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 55 paise, or 0.07 per cent, to Rs 802.3 per 10 kg in 40,730 lots.

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

Mustard seed

Mustard seed prices on Wednesday moved down by Rs 28 to Rs 4,306 per quintal in futures trade as traders reduced their holdings coupled with a weak trend at the spot market.

At the National Commodity and Derivatives Exchange, mustard seed for delivery in December fell by Rs 28, or 0.65 per cent, to Rs 4,306 per quintal clocking an open interest of 30,140 lots.

Also, mustard seed for delivery in January was down by Rs 29, or 0.66 per cent, to Rs 4,313 per quintal with an open interest of 4,360 lots.

Marketmen said offloading of positions by participants following a weak trend at the spot market due to easing demand led to the fall in mustard seed prices at futures trade.

Guar seed

Guar seed prices on Wednesday rose by Rs 16.5 to Rs 4,134 per 10 quintal in futures trade after participants widened their holdings driven by a firm trend in the spot market.

On the National Commodity and Derivatives Exchange, guar seed for December contracts advanced by Rs 16.5, or 0.40, to Rs 4,134 per 10 quintal with an open interest of 73,800 lots.

Similarly, guar seed for January delivery gained by Rs 16, or 0.38 per cent, to Rs 4,172 per 10 quintal with an open interest of 31,080 lots.

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

Guar gum

Guar gum prices on Wednesday advanced by Rs 32 to Rs 7,505 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 32, or 0.43 per cent, to Rs 7,505 per five quintal with an open interest of 38,445 lots.

Besides, guar gum for January delivery advanced by Rs 28, or 0.37 per cent, to Rs 7,612 per five quintal with an open interest of 30,810 lots.

Restricted arrivals from growing regions aided the rise, analysts said.

Cottonseed oil cake

Cottonseed oil cake prices on Wednesday fell by Rs 14.5 at Rs 2,056 per quintal in futures trade as participants reduced their bets amid weak trend at the spot market.

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

On the National Commodity and Derivatives Exchange, cottonseed oil cake to be delivered in December fell by Rs 14.5, or 0.70 per cent, to Rs 2,056 per quintal with an open interest of 46,740 lots.

Cottonseed oil cake for delivery in January went down by Rs 12.5, or 0.60 per cent, to Rs 2,058 per quintal in 34,440 lots.

Coriander

Coriander prices on Wednesday fell by Rs 108 at Rs 6,725 per quintal in futures trade as speculators reduced their positions amid sluggish demand at spot market.

On the Multi Commodity Exchange, coriander contracts for December fell by Rs 108, or 1.58 per cent, to Rs 6,725 a quintal in 9,980 lots.

Similarly, coriander contracts for January delivery declined by Rs 34, or 0.51 per cent, to Rs 6,674 per quintal in 3,130 lots.

Market analysts said subdued demand by speculators in spot market led to the decline in coriander future prices.

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Agri Commodities: Guar gum, soybean rise in futures trade owing to low demand

Agri Commodities: Soya oil, soybean, mustard slip in futures trade amid low demand

Agri Commodities: Soybean, soya oil, guar seed edge lower in futures amid weak demand

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