Soybean prices on Thursday rose by Rs 6 to Rs 4,260 per quintal in futures market as traders created fresh positions on strong demand.
On the National Commodity and Derivatives Exchange, soybean for December delivery was trading higher by Rs 6, or 0.14 per cent, at Rs 4,260 per quintal with an open interest of 440 lots.
Analysts said raising of fresh positions by speculators on the back of higher demand mainly led to the rise in soybean prices.
Soya oil
Refined soya oil prices on Thursday rose 0.48 per cent to Rs 883 per 10 kg in futures trade as speculators raised their bets.
On the National Commodity and Derivatives Exchange, refined soya oil for December delivery moved up by Rs 4.2, or 0.48 per cent, to Rs 883 per 10 kg in 6,550 lots.
Similarly, refined soya oil contracts for January delivery edged up by Rs 6, or 0.68 per cent, to Rs 890.2 per 10 kg in 52,955 lots.
Analysts said widening of positions by traders helped refined soya oil prices to trade higher in futures market here.
Mustard
Mustard seed prices on Thursday moved down by Rs 49 to Rs 4,497 per quintal in futures trade as traders reduced their holdings coupled with a weak trend in spot market.
On the National Commodity and Derivatives Exchange, mustard seed for delivery in December fell by Rs 49, or 1.08 per cent, to Rs 4,497 per quintal clocking an open interest of 30 lots.
Also, mustard seed for delivery in January was down by Rs 6, or 0.13 per cent, to Rs 4,555 per quintal with an open interest of 19,250 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 here.
Guar seed
Guar seed prices on Thursday rose by Rs 62 to Rs 4,096 per 10 quintal in futures trade after participants widened their holdings driven by a firm trend in spot market.
On the National Commodity and Derivatives Exchange, guar seed for December contracts rose by Rs 62, or 1.54 per cent, to Rs 4,096 per 10 quintal with an open interest of 285 lots.
Similarly, guar seed for January delivery gained Rs 34, or 0.83 per cent, to Rs 4,124 per 10 quintal with an open interest lots of 83,290
According to marketmen, raising of bets by speculators tracking a firm trend in spot market on thin supplies from growing belts mainly led to rise in guar seed prices here.
Guar gum
Guar gum prices on Thursday gained Rs 43 to Rs 7,452 per five quintal in futures trade as investors increased their holdings on spot demand.
Analysts said tracking firm physical market trend traders opted to raise their bets which led to rise in guar gum prices.
On the National Commodity and Derivatives Exchange, guar gum delivery for January contracts jumped up by 0.58 per cent, or Rs 43, to Rs 7,452 per five quintal with an open interest of 58,525 lots.
Likewise, the delivery of February contract surged by Rs 38, or 0.51 per cent, to Rs 7,557 per five quintal as open interest stood at 9,305 lots.
Cottonseed
Cottonseed oil cake prices on Thursday increased by Rs 31 at Rs 2,086 per quintal in futures trade due to accumulation of positions amid upbeat trend at the spot market.
On the National Commodity and Derivatives Exchange, cottonseed oil cake contracts for December delivery rose by Rs 31, or 1.51 per cent, at Rs 2,086 per quintal in 2,530 lots.
Cottonseed oil cake contracts for January gained Rs 34, or 1.65 per cent, at Rs 2,094 per quintal in 60,330 lots.
Marketmen said raising of positions by participants amid rising demand from cattle-feed makers mainly influenced prices here.
Coriander
Coriander prices on Thursday climbed Rs 24 to Rs 6,921 per quintal in futures trade on strong domestic demand and restricted supplies from producing belts.
At the National Commodity and Derivatives Exchange, coriander for December delivery shot up by Rs 24, or 0.35 per cent, to Rs 6,921 per quintal with an open interest of 2,840 lots.
Similarly, the spice for January delivery traded higher by Rs 6, or 0.09 per cent, at Rs 6,360 per quintal in 9,380 lots.
A firm trend at the spot market and restricted supplies from producing regions pushed up coriander prices here, market analysts said.
Source: Economic Times
