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Agri Commodities: Soyabean, soya oil, mustard rise in futures trade amid firm demand

Soybean prices on Friday rose by Rs 12 to Rs 3,993 per quintal in futures trade .

PTI|
Nov 22, 2019, 02.59 PM IST
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Mustard
Mustard seed prices on Friday rose by Rs 5 to Rs 4,301 per quintal in futures trade.
Soybean prices on Friday rose by Rs 12 to Rs 3,993 per quintal in futures trade as traders created fresh positions supported by a strong spot demand.

On the National Commodity and Derivatives Exchange, soybean for delivery in December was up by Rs 12, or 0.30 per cent, to Rs 3,993 per quintal with an open interest of 96,960 lots.

Soybean for delivery in January rose by Rs 8, or 0.20 per cent, to Rs 4,008 per quintal having an open interest of 1,06,280 lots.

Market players said rasing of fresh positions by speculators on the back of higher demand mainly led to rise in soybean prices in futures trading.

Soya oil
Refined soya oil prices on Friday rose 0.07 per cent to Rs 804.5 per 10 kg in futures trade as speculators created fresh positions.

On the National Commodity and Derivatives Exchange, refined soya oil contracts for December delivery went up by 60 paise, or 0.07 per cent, to Rs 804.5 per 10 kg with an open interest of 48,090 lots.

Analysts said fresh positions built up by traders against restricted arrivals from growing regions mainly led to rise in refined soya oil prices.

Mustard
Mustard seed prices on Friday rose by Rs 5 to Rs 4,301 per quintal in futures trade due to raising of positions by participants.

Demand from oil mills in spot market mainly lifted mustard seed prices in futures trade, analysts said.

On the National Commodity and Derivatives Exchange, mustard seed delivery for December was up by Rs 5, or 0.12 per cent, to Rs 4,301 per quintal in 33,870 lots.

The delivery for January gained Rs 10, or 0.23 per cent, to Rs 4,295 per quintal in 3,690 lots

Guar seed

Guar seed prices on Friday rose by Rs 16 to Rs 4,264 per 10 quintal in futures trade after participants widened their holdings driven by a firm trend at spot market.

On the National Commodity and Derivatives Exchange, guar seed for December contracts rose by Rs 16, or 0.38, to Rs 4,264 per 10 quintal with an open interest of 79,120 lots.

Similarly, guar seed for January delivery gained Rs 14, or 0.33 per cent, to Rs 4,297 per 10 quintal with an open interest lots of 21,080

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

Guar gum

Guar gum prices on Friday advanced Rs 24 to Rs 7,870 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 24, or 0.31 per cent, to Rs 7,870 per five quintal with an open interest of 55,185 lots.

Restricted arrivals from growing regions aided the rise in guar gum prices, traders said.

Cottonseed
Cottonseed oil cake prices on Friday were up by Rs 13.5 to Rs 2,108 per quintal in futures trade after participants accumulated positions on spot demand.

On the National Commodity and Derivatives Exchange, cottonseed oil cake for delivery in December traded higher by Rs 13.5, or 0.64 per cent, at Rs 2,108 per quintal, in an open interest of 47,250 lots.

Likewise, for delivery in January, cottonseed oil cake was trading higher by Rs 7, 0.33 per cent, at Rs 2,110 per quintal in an open interest of lots of 38,060

Marketmen said raising of positions by participants amid a rising demand from cattle-feed makers mainly influenced cottonseed oil cake prices here.

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