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Agri Commodities: Guar seed, coriander, soya oil futures fall on weak demand

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Agri Commodities: Guar gum, mustard seed, coriander gain on spot demand
On the National Commodity and Derivatives Exchange, guar seed contracts for September delivery fell by Rs 11, or 0.26 per cent, to Rs 4,140 per 10 quintal depicting an open interest of 2,250 lots.
Guar gum prices rose by Rs 2 to Rs 8,375 per five quintal in futures trade on Friday amid strong export demand at the spot market.

On the National Commodity and Derivatives Exchange, guar gum contracts for October delivery traded higher by Rs 2, or 0.02 per cent, at Rs 8,375 per five quintal with an open interest of 57,320 lots.

Guar gum for November delivery also rose by Rs 14, or 0.17 per cent, to Rs 8,131 per five quintal mirroring an open interest of 13,260 lots.

Guar seed prices fell by Rs 11 to Rs 4,140 per 10 quintal in futures market on Friday on liquidation of holdings by operators in line with a weak market trend.

Marketmen attributed the downward trend in guar seed futures to thin demand at the spot market amid increasing supplies from growing regions.

On the National Commodity and Derivatives Exchange, guar seed contracts for September delivery fell by Rs 11, or 0.26 per cent, to Rs 4,140 per 10 quintal depicting an open interest of 2,250 lots.

Similarly, the contract for most-traded October delivery shed by Rs 13.5, or 0.33 per cent, to Rs 4,116 per 10 quintal with an open interest of 75,200 lots.

Coriander

Coriander prices fell 0.18 per cent to Rs 6,170 per quintal in futures trade on Friday as participants cut down positions amid muted domestic and export demand.

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

On the National Commodity and Derivatives Exchange, coriander contracts for October delivery declined by Rs 11, or 0.18 per cent, to Rs 6,170 per quintal with an open interest of 24,920 lots.

Similarly, coriander contracts for November traded down by Rs 10, or 0.16 per cent, at Rs 6,300 with an open interest of 2820 lots.

Mustard seed
Mustard seed prices rose by Rs 39 to Rs 3,930 per quintal in futures trade on Friday as traders raised their holdings amid rise in demand at the spot market.

On the National Commodity and Derivatives Exchange, mustard seed for September delivery rose by Rs 39, or 1 per cent, to Rs 3,930 per quintal clocking an open interest of 450 lots.

However, mustard seed for November delivery dipped by Rs 3, or 0.08 per cent, to Rs 3,939 per quintal with an open interest of 54,960 lots.

Marketmen said building up of fresh positions by participants due to limited supply mainly led to rise in mustard seed prices.

Soybean
Soybean prices traded higher by Rs 105 to Rs 4,045 per quintal in futures trade on Friday on the back of fresh positions built up by speculators.

At the National Commodity and Derivatives Exchange, soybean for September gained Rs 105, or 2.66 per cent, to Rs 4,045 per quintal in an open interest of 2,060 lots.

The delivery for October edged up by Rs 13, or 0.34 per cent, to Rs 3,783 per quintal, open interest stood at 44,110 lots.

Marketmen said participants raised their holdings which mainly pushed soybean futures to trade higher.

Refined soya oil prices fell 0.03 per cent to Rs 761 per 10 kg in futures trade on Friday as speculators trimmed their bets amid adequate supply at the spot market.

On the National Commodity and Derivatives Exchange, refined soya oil contracts for September delivery declined by 50 paise, or 0.03 per cent, to Rs 761 per 10 kg with an open interest of 5,720 lots.

For October delivery, the contract fell Rs 4.15 or 0.54 per cent, to Rs 764.3 per quintal with an open interest of 46,280 lots.

Market analysts said cutting down of positions by participants against ample stocks mainly influenced prices

Cottonseed oil
Cottonseed oil cake prices fell by Rs 20.5 to Rs 3,562 per quintal in futures trade on Friday as participants reduced their bets amid weak trend at the spot market.

Market players said sell-off by participants at existing levels amid subdued trend at the market mainly weighed on cottonseed oil cake prices.

At the National Commodity and Derivatives Exchange, cottonseed oil cake to be delivered in September fell by Rs 20.5, or 0.57 per cent to Rs 3,562 per quintal in an open interest of 5,170 lots.

The contract for December delivery shed by Rs 10, or 0.47 per cent to Rs 2,127 per quintal with an open interest of 41,080 lots.

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