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Agriwatch: Soyabean, mustard, jeera on low demand, profit booking

Turmeric prices declined by 0.96 per cent to Rs 6,420 per qu..

Turmeric prices declined by 0.96 per cent to Rs 6,420 per quintal in futures trading Monday as participants trimmed their positions amid sufficient stocks at the spot market.

At the National Commodity and Derivatives Exchange, turmeric for delivery in December declined by Rs 62, or 0.96 per cent, to Rs 6,420 per quintal with an open interest of 10,005 lots.

Likewise, the spice for delivery in January was trading lower by Rs 70, or 1.07 per cent, to Rs 6,488 per quintal in 5,775 lots.

Market analysts said cutting down of bets by traders, triggered by ample stocks position on increased arrivals from growing regions in the physical markets, mainly influenced turmeric prices at futures trade.

Soybean: Soybean prices were down by 0.32 per cent to Rs 3,412 per quintal in futures trade Monday after traders liquidated bets amid a weak trend at the spot markets.

Marketmen said off-loading of the positions by traders, tracking a weak trend at the physical markets on muted demand against adequate stocks mainly put pressure on soybean prices in futures trade here.

At the National Commodity and Derivatives Exchange counter, soybean for delivery in December was trading lower by Rs 11, or 0.32 per cent, to Rs 3,412 per quintal in an open interest of 64,860 lots.

Similarly, the delivery for January next year inched down by Rs 12, or 0.35 per cent, to Rs 3,456 per quintal, showing an open interest of 67,220 lots.

Soya oil: Refined soya oil prices eased by 0.77 per cent to Rs 727.5 per 10 kg in futures trade Monday as speculators trimmed bets, triggered by adequate stocks at spot market.

At the National Commodity and Derivatives Exchange, refined soya oil for December declined by Rs 5.65, or 0.77 per cent, to Rs 727.5 per 10 kg with an open interest of 53,950 lots.

Likewise, the oil for January fell by Rs 4.05, or 0.55 per cent, to Rs 730.05 per 10 kg in 9,760 lots.

Market analysts said, cutting down of positions by participants due to decline in demand against ample stocks mainly influenced the prices.

Mustard seed: Mustard seed prices drifted lower by Rs 6 to Rs 4,089 per quintal in futures trading Friday after participants offloaded their positions to book profits.

Marketmen said trimming of positions by traders to log in gains at current levels, mainly dragged down mustard seed prices in futures trade here.

At the National Commodity and Derivative Exchange, mustard seed for delivery December receded by Rs 6 or 0.15 per cent to Rs 4,089 per quintal, in an open interest of 5,610 lots.

Mustard seed for delivery in January also eased by Rs 16 or 0.39 per cent to Rs 4,135 per quintal, open interest depicted of 60,700 lots.

Jeera: Jeera prices fell by Rs 40 to Rs 19,365 per quintal in futures trade Thursday after speculators booked profits at prevailing levels amid muted domestic and export demand.

In futures trading at the National Commodity and Derivatives Exchange, jeera to be delivered December was trading lower by Rs 40, or 0.21 per cent, at Rs 19,365 per quintal with an open interest of 75 lots.

Likewise, the spice for delivery in far-month March was lower by Rs 280, or 1.56 per cent, at Rs 17,7000 per quintal in 5,517 lots.

Analysts said apart from profit-booking by speculators at current levels, fall in demand at the physical market against adequate stocks position, weighed on jeera prices at futures trade.

Guar seed: Guar seed prices went down steeply by Rs 13 to Rs 9,033 per quintal in futures trade Monday amid off-loading of exposure by investors in sync with a weak trend at the physical markets.

At the National Commodity and Derivatives Exchange, guar seed for delivery in December moved down by Rs 103 or 1.13 per cent to Rs 9,033 per quintal, persisting an open interest of 83,080 lots.

Similarly, the rates for January moved down by Rs 100 or 1.08 per cent to Rs 9,170 per quintal, open interest stood at 39,120 lots.

Marketmen cutting down of positions by participants following a weak trend at the spot markets on soaring stocks against muted demand from guar gum makers, led to the fall in guar seed futures traded lower.

Cottonseed oil cake: Cottonseed oil cake prices fell by Rs 13.5 to Rs 1,941 per quintal in the futures trade after participants off-loaded holdings, tracking a weak trend at the physical markets due to low demand.

Marketmen said cutting down of bets by traders in line with muted demand from animal feed makers amid ample stocks in the spot markets, mainly attributed the fall in cottonseed oil cake futures.

At the National Commodity and Derivatives Exchange, cottonseed oil cake to be delivered in December was down by Rs 13.5 or 0.69 per cent to Rs 1,941 per quintal.

The rates for the most-traded January next year eased by Rs 10 or 0.51 per cent to Rs 1,942 per quintal.

Coriander: Coriander prices fell 0.87 per cent to Rs 6,185 a quintal in futures market Monday as participants cut down positions amid muted domestic as well as export demand against ample stocks position.

Besides, rising arrivals from major producing regions and profit-booking at higher levels weighed on the sentiment.

At the National Commodity and Derivatives Exchange, coriander prices for delivery in December declined by Rs 54, or 0.87 per cent, to Rs 6,185 per quintal with an open interest of 9,460 lots.

On similar lines, rates for January was trading at Rs 6,267, down by 1.77 per cent or Rs 113. The open interest of the contract stood at 22,240 lots.

Analysts attributed the fall in coriander futures to subdued demand in the physical market against adequate stocks position on increased supplies from producing regions.

Chana: Amid uptick in demand at domestic spot market against restricted supplies from producing belts, chana prices traded higher by 2.9 per cent to Rs 4,753 per quintal in futures trade today as participants created fresh positions.

At the National Commodity and Derivatives Exchange, chana for delivery in December rose by Rs 134, or 2.9 per cent, to Rs 4,753 per quintal with an open interest of 25,450 lots.

Similarly, the commodity for delivery in January contracts was trading higher by Rs 129, or 2.8 per cent, to Rs 4,730 per quintal in 64,860 lots.

Analysts attributed the rise in chana prices futures to pick up in demand in the spot markets against restricted supplies from the producing regions.

Castor seeds: Castor seed prices were up by Rs 34 to Rs 5,676 per quintal in futures trade Monday on building up of positions by traders, taking positive leads from the physical markets.

Marketmen said fresh positions built up by participants, taking positive cues from the physical markets, where prices strengthened on thin supplies and acceleration in demand from consuming industries, attributed the rise in castor seed prices in futures trade here.

At the National Commodity and Derivatives Exchange, castor seed for delivery in December spurted by Rs 34, or 0.6 per cent, to Rs 5,676 per quintal, showing an open interest of 57,320 lots.

Castor seed for January delivery also rose by Rs 30, or 0.52 per cent, to Rs 5,760 per quintal, with a business turnover of 1,09,600 lots.

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