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Agri Commodities: Soybean, mustard rise in futures trade amid high demand

Soybean prices on Monday rose by Rs 16 to Rs 3,886 per quintal in futures market.

PTI|
Last Updated: Feb 24, 2020, 03.55 PM IST
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Mustard
Mustard seed prices on Monday rose by Rs 13 to Rs 4,035 per quintal in futures trade.
Soybean prices on Monday rose by Rs 16 to Rs 3,886 per quintal in futures market as traders created fresh positions in line with spot demand.

On the National Commodity and Derivatives Exchange, soybean for March delivery rose by Rs 16, or 0.41 per cent, to Rs 3,886 per quintal with an open interest of 1,36,720 lots.

Soybean for April delivery rose by Rs 16, or 0.42 per cent, to Rs 3,860 per quintal with an open interest of 1,08,775 lots.

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

Guar seed
Guar seed prices on Monday edged lower by Rs 72 to Rs 3,752 per 10 quintal in futures trade as participants reduced their holdings in line with a weak spot demand.

Marketmen attributed the downward trend in guar seed prices to increasing supplies from growing regions.

On the National Commodity and Derivatives Exchange, guar seed contracts for March delivery fell by Rs 72, or 1.88 per cent, to Rs 3,752 per 10 quintal with an open interest of 67,375 lots.

Similarly, guar seed contracts for April delivery shed Rs 76, or 1.97 per cent, to Rs 3,776 per 10 quintal with an open interest of 17,485 lots.

Guar gum

Guar gum prices on Monday eased by Rs 171 to Rs 6,460 per five quintal in futures market as traders reduced their holdings on low demand at the spot market.

Marketmen said trimming of positions by participants amid weak demand mainly dragged down guar gum prices here.

On the National Commodity and Derivatives Exchange, guar gum contracts for March delivery slipped by Rs 171, or 2.58 per cent, to Rs 6,460 per five quintal in 48,985 lots.

Guar gum contracts for April delivery eased by Rs 173, or 2.57 per cent, to Rs 6,542 per five quintal in 12,685 lots.

Mustard
Mustard seed prices on Monday rose by Rs 13 to Rs 4,035 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 April rose by Rs 13, or 0.32 per cent, to Rs 4,035 per quintal with an open interest of 16,490 lots.

Similarly, the delivery for May gained Rs 18, or 0.45 per cent, to Rs 4,060 per quintal with an open interest of 4,370 lots.

Refined soya oil
Refined soya oil prices on Monday rose 0.35 per cent to Rs 811.8 per 10 kg in futures trade as speculators raised their bets.

On the National Commodity and Derivatives Exchange, refined soya oil for March delivery moved up by Rs 2.8, or 0.35 per cent, to Rs 811.8 per 10 kg in 48,430 lots.

Similarly, refined soya oil contracts for April delivery edged up by Rs 5, or 0.62 per cent, to Rs 811.4 per 10 kg in 14,535 lots.

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

Coriander
Coriander prices on Monday fell by Rs 91 to Rs 6,100 per quintal in futures trade after participants trimmed their positions on subdued demand at spot market.

On the Multi Commodity Exchange, coriander contracts for April eased by Rs 91, or 1.47 per cent, to Rs 6,100 per quintal in 7,260 lots.

Similarly, the spice for May delivery traded lower by Rs 98, or 1.56 per cent, at Rs 6,101 per quintal in 1,070 lots.

Market analysts said subdued demand in spot market mainly led to decline in coriander prices here.

Cottonseed oil

Cottonseed oil cake prices on Monday fell by Rs 38 to Rs 1,624 per quintal in futures trade as participants reduced their bets amid a weak trend at the 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 March fell by Rs 38, or 2.29 per cent, to Rs 1,624 per quintal with an open interest of 90,250 lots.

Cottonseed oil cake for delivery in April went down by Rs 44, or 2.61 per cent, to Rs 1,639 per quintal in 27,970 lots.
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