Soybean prices on Friday rose by Rs 58 to Rs 4,360 per quintal in futures market as traders created fresh positions supported by a strong spot demand.
On the National Commodity and Derivatives Exchange, soybean for delivery in December was up by Rs 58, or 1.35 per cent, to Rs 4,360 per quintal with an open interest of 60 lots.
Soybean for delivery in January rose by Rs 28, or 0.64 per cent, to Rs 4,372 per quintal having an open interest of 1,63,705 lots.
Market players said rasing 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 Friday rose 0.41 per cent to Rs 887.6 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 3.6, or 0.41 per cent, to Rs 887.6 per 10 kg in 4,445 lots.
Similarly, refined soya oil contracts for January delivery edged up by Rs 3.6, or 0.40 per cent, to Rs 909.2 per 10 kg in 57,385 lots.
Analysts said widening of positions by traders helped refined soya oil prices trade higher in futures market here.
Mustard
Mustard seed prices on Friday rose by Rs 32 to Rs 4,618 per quintal in futures trade as speculators raised their bets tracking firm demand in spot market.
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 January rose Rs 32, or 0.7 per cent, to Rs 4,618 per quintal with an open interest of 19,730 lots.
Similarly, the delivery for February gained Rs 41, or 0.90 per cent, to Rs 4,589 per quintal with an open interest of 1,890 lots.
Guar seed
Guar seed prices on Friday rose by Rs 24 to Rs 4,178 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 24, or 0.58, to Rs 4,178 per 10 quintal with an open interest of 150 lots.
Similarly, guar seed for January delivery gained Rs 28, or 0.67 per cent, to Rs 4,204 per 10 quintal with an open interest lots of 81,640
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 Friday gained Rs 44 to Rs 7,675 per five quintal in futures trade as investors increased their holdings on spot demand.
Analysts said tracking firm physical market trend traders raised 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 44, to Rs 7,675 per five quintal with an open interest of 57,940 lots.
Likewise, the delivery of February contract surged by Rs 28, or 0.36 per cent, to Rs 7,772 per five quintal as open interest stood at 10,870 lots.
Cottonseed oil
Cottonseed oil cake prices on Friday climbed Rs 23 at Rs 2,139 per quintal in futures trade due to accumulation of positions amid upbeat trend in spot market.
On the National Commodity and Derivatives Exchange, cottonseed oil cake contracts for December delivery rose by Rs 23, or 1.09 per cent, to Rs 2,139 per quintal in 880 lots.
Cottonseed oil cake contracts for January gained Rs 36, or 1.69 per cent, to Rs 2,163 per quintal in 66,740 lots.
Marketmen said raising of positions by participants amid rising demand from cattle-feed makers mainly influenced prices here.
Coriander
Coriander prices on Friday fell by Rs 23 to Rs 6,360 per quintal in futures trade as speculators reduced their positions amid sluggish demand at the spot market.
On the Multi Commodity Exchange, coriander contracts for January fell by Rs 23, or 0.36 per cent, to Rs 6,360 per quintal in 9,890 lots.
Similarly, coriander contracts for April delivery declined by Rs 28, or 0.41 per cent, to Rs 6,800 per quintal in 5,030 lots.
Market analysts said subdued demand by speculators in spot market led to the decline in coriander future prices.
Source: Economic Times
