New Delhi: Soybean prices fell by Rs 26 to Rs 3,616 per quintal in futures trade Wednesday on subdued cues from the market.
At the National Commodity and Derivatives Exchange, soybean contracts for July delivery fell by Rs 26, or 0.71 per cent, to Rs 3,616 per quintal with an open interest of 1,05,890 lots.
Soybean contracts for August delivery also dipped by Rs 20, or 0.55 per cent, to Rs 3,640 per quintal with an open interest of 25,970 lots.
Refined soya oil
Refined soya oil prices Wednesday eased 0.46 per cent to Rs 740 per 10 kg in futures trade as speculators trimmed bets, triggered by adequate stocks at the spot market.
At the National Commodity and Derivatives Exchange, refined soya oil for July contracts declined by Rs 3.4, or 0.46 per cent, to Rs 740 per 10 kg with an open interest of 47,240 lots.
Likewise, the oil for August contracts fell by Rs 2.35, or 0.32 per cent, to Rs 728.55 per 10 kg in 19,740 lots.
Market analysts said, cutting down of positions by participants due to decline in demand against ample stocks mainly influenced the prices.
Guar gum
Guar gum prices dropped by Rs 43 to Rs 8,558 per 5 quintal in futures trade Wednesday as traders cut bets on subdued physical sentiments amid lower export demand.
At the National Commodity and Derivatives Exchange, guar gum for delivery in July eased by Rs 43, or 0.5 per cent, to Rs 8,558 per 5 quintal with an open interest of 58,005 lots.
Similarly, the August-delivery contract shed Rs 42, or 0.48 per cent, to Rs 8,677 per 5 quintal with an open interest of 7,050 lots.
Marketmen said, off-loading of positions by investors and weak export demand from oil drilling industries mainly dragged down guar gum prices iRead More – Source
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