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Agri Commodities: Guar seed, soyabean, soya oil rise in futures amid strong demand

Guar seed prices on Monday rose Rs 79 to Rs 4,361 per 10 quintal in futures trade.

PTI|
Nov 11, 2019, 05.17 PM IST
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Agencies
Mustard
oriander prices fell by Rs 46 to Rs 7,160 per quintal in futures trade on Monda.
Guar seed prices on Monday rose Rs 79 to Rs 4,361 per 10 quintal in futures trade as participants built their positions driven by a firm trend at spot market.

On the National Commodity and Derivatives Exchange, guar seed contracts for November traded higher by Rs 79, or 1.84 per cent, to Rs 4,361 per 10 quintal with an open interest of 26,360 lots.

For December contracts, guar seed futures gained Rs 75, or 1.77 per cent, to Rs 4,322.5 per 10 quintal with an open interest of 89,820 lots.

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

Soybean
Soybean prices on Monday rose by Rs 8 to Rs 4,043 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 November was up by Rs 8, or 0.20 per cent, to Rs 4,043 per quintal with an open interest of 24,710 lots.

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

Soya oil
Refined soya oil prices on Monday rose 1.24 per cent to Rs 810 per 10 kg in futures trade as speculators raised their bets.

On the National Commodity and Derivatives Exchange, refined soya oil for delivery in November moved up by Rs 9.95, or 1.24 per cent, to Rs 810 per 10 kg in 10,270 lots.

Similarly, the oil for delivery in December contracts edged up by Rs 7.7, or 0.96 per cent, to Rs 812.15 per 10 kg in 37,100 lots.

Analysts said widening of positions by traders helped refined soya oil prices to trade higher in futures market here.

Coriander
Coriander prices fell by Rs 46 to Rs 7,160 per quintal in futures trade on Monday as participants cut down positions amid muted domestic and export demand.

Besides, rising arrivals from major producing regions and profit-booking at higher levels mainly weighed on coriander prices here.

On the National Commodity and Derivatives Exchange, coriander prices for November delivery declined by Rs 46, or 0.64 per cent, to Rs 7,160 per quintal with an open interest of 10,160 lots.

Coriander contracts for December traded lower by Rs 123, or 1.78 per cent, at Rs 6,770 per quintal with an open interest of 10,010 lots.

Cottonseed
Cottonseed oil cake prices on Monday fell Rs 62.5 to Rs 2,165.5 per quintal in futures trade as participants reduced their bets amid weak trend at spot market.

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

On the National Commodity and Derivatives Exchange, cottonseed oil cake to be delivered in December fell Rs 62.5, or 2.81 per cent, to Rs 2,165.5 per quintal in 50,270 lots.

Cottonseed oil cake for delivery in January next year went down by Rs 44.5, or 2.06 per cent, to Rs 2,111 per quintal in 26,070 lots.

Guar gum
Guar gum prices advanced Rs 73 to Rs 7,945 per five quintal in futures trade on Monday as investors created fresh bets on firm spot demand.

On the National Commodity and Derivatives Exchange, guar gum contracts for November rose by Rs 73, or 0.93 per cent, to Rs 7,945 per five quintal with an open interest of 3,905 lots.

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

Mustard
Mustard seed prices on Monday rose by Rs 2 to Rs 4,225 per quintal in futures trade as speculators raised their bets amid limited supplies.

Marketmen said apart from restricted arrivals from growing belts, demand from oil mills in spot market mainly lifted mustard seed prices here.

On the National Commodity and Derivatives Exchange, mustard seed for delivery in November rose by Rs 2, or 0.05 per cent, to Rs 4,225 per quintal in an open interest of 11,880 lots.

Similarly, the delivery for December gained by Rs 17, or 0.40 per cent, to Rs 4,258 per quintal with an open interest of 35,240.

Also Read

Agri Commodities: Soyabean, soya oil rise in futures supported by strong demand

Agri Commodities: Mustard, soya oil, guar seed trade up in futures amid strong demand

Agri Commodities: Soybean, soya oil, coriander futures rise on spot demand

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

Agri Commodities: Soybean, soya oil, mustard decline in futures trade amid low demand

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