Agri Commodities: Cottonseed Oil Cake, Guar Seed Futures Dip On Low Demand

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Soybean

prices increased by Rs 13 to Rs 3,749 per quintal in futures trade on Tuesday as speculators raised their positions supported by a strong spot demand.

Marketmen said fresh positions created by participants pushed up soybean prices.

On the National Commodity and Derivatives Exchange, soybean contracts for the September delivery traded higher by Rs 13, or 0.35 per cent, to Rs 3,749 per quintal in an open interest of 45,300 lots.

Refined soya oil prices rose 0.62 per cent to Rs 765 per 10 kg in futures trade on Tuesday as speculators created fresh positions.

On the National Commodity and Derivatives Exchange, refined soya oil contracts for most-traded September delivery went up by Rs 4.7, or 0.62 per cent, to Rs 765 per 10 kg with an open interest of 9,110 lots.

Similarly, the contracts for October delivery traded higher by Rs 3.3, or 0.43 per cent, at Rs 769.8 per 10 kg with an open interest of 4,4150 lots.

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

Cottonseed oil cake

Cottonseed oil cake prices dipped by Rs 2 to Rs 3,620 per quintal in futures trade on Tuesday after tracking a muted trend at the spot market.

On the National Commodity and Derivatives Exchange, cottonseed oil cake to be delivered in September contracts were down by Rs 2, or 0.06 per cent, to Rs 3,620 per quintal with an open interest of 13,620 lots.

Marketmen said the slide in cottonseed oil cake prices was mainly due to tightening of bets by participants triggered by lack of demand from animal feed makers.

Coriander

Coriander futures traded 0.3 per cent higher at Rs 6,060 per quintal in futures market on Tuesday as participants built 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 September delivery rose by Rs 18, or 0.3 per cent, to Rs 6,060 per quintal with an open interest of 280 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 37 to Rs 3,949 per quintal in futures trade on Tuesday as traders raised their holdings amid rise in demand at the spot market.

At the National Commodity and Derivatives Exchange, mustard seed for September delivery rose by Rs 37, or 0.95 per cent, to Rs 3,949 per quintal clocking an open interest of 25,780 lots.

Similarly, mustard seed for November delivery rose by Rs 7, or 0.18 per cent, to Rs 3,997 per quintal with an open interest of 61,020 lots.

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

Guar seed



Guar gum

prices fell by Rs 13 to Rs 8,026 per five quintal in futures trading on Tuesday due to selling by speculators in line with a weak domestic demand at the spot market.

Marketmen said, the fall in guar gum prices in futures trading was mainly due to muted demand in spot market and subdued export demand from oil drilling industries.

At the National Commodity and Derivatives Exchange, guar gum delivery for the October contract fell by Rs 13, or 0.16 per cent, to Rs 8,026 per five quintal with an open interest of 61,435 lots.

Likewise, the delivery of November contract dropped by Rs 9, or 0.11 per cent, to Rs 8,137 per five quintal as open interest stood at 7,240 lots.

Guar seed futures traded lower by Rs 9.5 to Rs 4,180 per 10 quintal in futures trade on Tuesday as participants reduced their portfolios in line with a weak trend in the physical market.

On the National Commodity and Derivatives Exchange, guar seed to be delivered in September fell by Rs 9.5, or 0.23 per cent, to Rs 4,180 per 10 quintal with an open interest of 9,490 lots.

However, guar seed contracts for October delivery traded marginally up by 50 paise, or 0.01 per cent, to Rs 4,160 per 10 quintal with an open interest of 81,660 lots.