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Agri Commodities: Soybean, guar gum, mustard seed futures fall on weak demand

New Delhi: Soybean prices fell by Rs 17 to Rs 3,687 per quintal in futures trade Monday as traders cut down their positions amid weak cues from physical markets.

On the National Commodity and Derivatives Exchange, soybean contracts for June delivery moved down by Rs 17, or 0.46 per cent, to Rs 3,687 per quintal with an open interest of 1,09,020 lots.

Soybean for July delivery also eased by Rs 16, or 0.43 per cent, to Rs 3,715 per quintal with an open interest of 22,700 lots.

Marketmen said the fall in soybean prices was mostly due to reduction of exposure by participants.

Refined soya oil

Refined soya oil prices increased 0.31 per cent to Rs 741.5 per 10 kg in futures market Monday as speculators created fresh positions.

On the National Commodity and Derivatives Exchange, refined soya oil contracts for July delivery went up by Rs 2.3, or 0.31 per cent, to Rs 741.5 per 10 kg with an open interest of 50,200 lots.

Similarly, refined soya oil for August delivery traded higher by Rs 2.3, or 0.32 per cent, at Rs 728.9 per 10 kg in 18,830 lots.

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

Cottonseed oil cake


Cottonseed oil cake prices rose by Rs 12.5 to Rs 2,860 per quintal in futures trade Monday after tracking positive trend at the spot market.

On the National Commodity and Derivatives Exchange, cottonseed oil cake to be delivered in July contracts rose by Rs 12.5, or 0.44 per cent, to Rs 2,860 per quintal with an open interest of 64,950 lots.

Besides, the rates for the August contracts was up by Rs 13.5, or 0.47 per cent, to Rs 2,904 per quintal with an open interest of 20,420 lots.

Guar gum

Guar gum prices fell by Rs 71 to Rs 8,511 per five quintal in futures market Monday on liquidated holdings by the operators in-line with weak market cues.

Marketmen attributed the downward trend in guar gum prices to thin demand and increasing supplies from growing regions in the spot market.

On the National Commodity and Derivatives Exchange, guar gum for July contracts slipped by Rs 71, or 0.83 per cent, to Rs 8,511 per five quintal with an open interest of 58,970 lots.

Also, delivery for August contracts fell by Rs 65, or 0.75 per cent, to Rs 8,641 per five quintal, while open interest stood at 5,250 lots.

Source: Economic Times