Agri Commodities: Mustard, castor, guar seed futures dip on muted demand

New Delhi: Mustard seed prices fell by 0.45 per cent to Rs 3,965 per quintal in futures trade Monday as speculators trimmed their positions amid subdued cues from the physical markets.

On the National Commodity and Derivatives Exchange, mustard seed for July contracts declined by Rs 18, or 0.45 per cent, to Rs 3,965 per quintal having an open interest of 72,980 lots.

Mustard seed for August contracts, too, was trading down by Rs 15, or 0.37 per cent, to Rs 4,002 per quintal in an open interest of 3,930 lots.

Marketmen attributed the persistent weakness in the prices to cutting down of positions by participants amid weak trend at the spot market.

Castor seed

Castor seed prices dipped by Rs 84 to Rs 5,710 per quintal in futures trade Monday as investors tightened their bets amid firm trends.

At the National Commodity and Derivatives Exchange, castor seed contracts for July traded lower by Rs 84, or 1.5 per cent, at Rs 5,710 per quintal.

Castor seed for August also dipped by Rs 98, or 1.66 per cent, to Rs 5,790 per quintal with an open interest of 2,125 lots.

Guar seed

Guar seed prices fell by Rs 1.5 to Rs 4,264 per 10 quintal in futures trade Monday as traders trimmed their bets in line with subdued lead at physical markets.

On the National Commodity and Derivatives Exchange, guar seed for July delivery declined by Rs 1.5, or 0.04 per cent, to Rs 4,264 per 10 quintal with an open interest of 65,380 lots.

The delivery for August softened by Rs 6.5, or 0.15 per cent, to Rs 4,406.5 per 10 quintal with an open interest of 14,830 lots.

Marketmen said guar seed futures declined due to soaring stock on continuous supplies from growing belts.

Guar gum

Guar gum prices eased by Rs 29 to Rs 8,620 per five quintal in futures trade Monday as traders cut down bets on subdued physical sentiments.

Besides, pessimistic physical markets due to weak export demand for oil drilling industries also dragged down guar gum prices in futures trade, marketmen said.

On the National Commodity and Derivatives Exchange, guar gum contracts for July delivery dropped by Rs 29, or 0.34 per cent, to Rs 8,620 per five quintal with an open interest of 44,750 lots.

Similarly, the delivery for August contracts was down by Rs 52, or 0.59 per cent, to Rs 8,797 per five quintal with an open interest of 1,330 lots.

Coriander

Coriander prices fell 0.4 per cent to Rs 7,425 per quintal in futures trade Monday 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 July delivery declined by Rs 30, or 0.4 per cent, to Rs 7,425 per quintal with an open interest of 21,520 lots.

Similarly, coriander contracts for August also traded down by Rs 73, or 0.96 per cent, at Rs 7,500. The open interest of the contract stood at 330 lots.

Cottonseed oil cake

Cottonseed oil cake prices fell by Rs 16.5 to Rs 2,805 per quintal in futures trade Monday as speculators liquidated their holdings due to a negative trend at the physical market.

Marketmen said offloading of holdings by traders, in tune with availability ample ready stock amid subdued demand, lead to the downtrend in cottonseed oil cake prices.

On the National Commodity and Derivatives Exchange, cottonseed oil cake contracts for August delivery receded by Rs 16.5, or 0.58 per cent, to Rs 2,805 per quintal with an open interest of 5,720 lots.

Similarly, the delivery for September fell by Rs 37.5, or 1.32 per cent, to Rs 2,800 per quintal with an open interest of 3,380 lots.