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Agri Commodities: Soyabean, mustard, cottonseed ease in futures amid weak demand

Cottonseed oil cake prices on Friday fell by Rs 7.5 to Rs 2,159.5 per quintal in futures trade.

PTI|
Nov 15, 2019, 02.06 PM IST
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Soybean prices on Friday fell by Rs 5 to Rs 3,950 per quintal in futures market as traders cut down their positions amid weak cues
Refined soya oil prices on Friday fell Rs 1.15 to Rs 791.3 per 10 kg in futures trade as speculators reduced holdings amid subdued demand in spot market.

On the National Commodity and Derivatives Exchange, refined soya oil for delivery in November declined by Rs 1.15, or 0.15 per cent, to Rs 791.3 per 10 kg with an open interest of 6,570 lots.

Similarly, the oil for delivery in December shed Rs 1.8, or 0.23 per cent, to Rs 797 per 10 kg in 41,910 lots.

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

Soyabean
Soybean prices on Friday fell by Rs 5 to Rs 3,950 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 5, or 0.13 per cent, to Rs 3,950 per quintal with an open interest of 11,740 lots.

Soybean for delivery in January contracts also eased by Rs 7, or 0.18 per cent, to Rs 3,973 per quintal with an open interest of 1,15,150 lots.

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

Mustard
Mustard seed prices on Friday eased by Rs 18 to Rs 4,282 per quintal in futures trade as speculators cut down their positions on subdued demand.

On the National Commodity and Derivatives Exchange, mustard seed contracts for November delivery fell by Rs 18, or 0.42 per cent, to Rs 4,282 per quintal in a business turnover of 3,360 lots.

Mustard seed contracts for December delivery declined by Rs 13, or 0.30 per cent, to Rs 4,273 per quintal in a business turnover of 37,810 lots.

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

Guar gum
Guar gum prices advanced Rs 191 to Rs 8,270 per five quintal in futures trade on Friday as investors created fresh bets on firm spot demand.

On the National Commodity and Derivatives Exchange, guar gum contracts for November rose by Rs 191, or 2.36 per cent, to Rs 8,270 per five quintal with an open interest of 960 lots.

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

Guar seed

Guar seed prices on Friday rose Rs 8 to Rs 4,430 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 8, or 0.18 per cent, to Rs 4,430 per 10 quintal with an open interest of 15,000 lots.

For December contracts, guar seed futures gained Rs 15.5, or 0.35 per cent, to Rs 4,410 per 10 quintal with an open interest of 85,190 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.

Cottonseed
Cottonseed oil cake prices on Friday fell by Rs 7.5 to Rs 2,159.5 per quintal in futures trade as participants reduced their positions amid low demand.

On the National Commodity and Derivatives Exchange, cottonseed oil cake for December delivery traded lower by Rs 7.5, or 0.35 per cent, at Rs 2,159.5 per quintal with an open interest of 46,310 lots.

Similarly, cottonseed oil cake for January slipped by Rs 12.5, or 0.58 per cent, to Rs 2,142.5 per quintal with an open interest of 35,550 lots.

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

Coriander
Coriander prices on Friday rose Rs 26 to Rs 7,200 per quintal in futures market as participants built up fresh positions amid rising spot demand.

Besides, tight stocks on account of restricted arrivals from major growing regions strengthened the prices.

On the National Commodity and Derivatives Exchange, coriander for November contracts edged higher by Rs 26, or 0.36 per cent, to Rs 7,200 per quintal with an open interest of 5,380 lots.

Market analysts attributed the rise in coriander futures to upsurge in demand in the physical market against tight stocks position.

On similar lines, the spice for delivery in December contracts was trading higher by Rs 65, or 0.96 per cent, to Rs 6,843 per quintal with an open interest of 10,460 lots.


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