Wheat, soya oil, crude palm oil slip, chana rises

Chana futures up 1.52% on spot demand

Chana prices spurted by 1.52 per cent to Rs 5,152 per quintal in futures trade today as participants created fresh positions, driven by rising demand from dal mills in the spot market.

At the National Commodity and Derivatives Exchange, chana for delivery in October increased by Rs 77, or 1.52 per cent to Rs 5,152 per quintal with an open interest of 12,270 lots.

Likewise, the commodity for delivery in September shot up by Rs 60, or 1.17 per cent, to Rs 5,182 per quintal in 15,860 lots.

Analysts said fresh positions built up by traders due to rising demand from dal mills in view of festive season amid restricted supplies from producing belts, mainly pushed up chana prices at futures trade.

Refined soya oil futures soften 0.41% on sluggish demand

Refined soya oil prices moved down by 0.41 per cent to Rs 636 per 10 kg in futures trading today as speculators reduced their exposure amid subdued demand in the spot market against ample stocks position.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August month fell by Rs 2.60, or 0.41 per cent to Rs 636 per 10 kg with an open interest of 33,390 lots.

Likewise, the oil for delivery in September month contracts shed Rs 2.35, or 0.36 per cent to Rs 642.65 per 10 kg in 48,790 lots.

Analysts said cutting down of positions by traders on the back of easing demand in the spot market against adequate stocks position mainly weighed on refined soya oil prices in futures trade.

Ample stocks drag wheat futures down by 0.78%

Wheat prices were lower by 0.78 per cent to Rs 1,654 per quintal in futures trade today as speculators reduced their exposure amid sufficient stock position at the spot market.

At the National Commodity and Derivatives Exchange, wheat for delivery in September fell by Rs 13, or 0.78 per cent, to Rs 1,654 per quintal with an open interest of 9,230 lots.

Likewise, the wheat for delivery in August contracts traded lower by Rs 12, or 0.73 per cent, to Rs 1,633 per quintal in 12,930 lots.

Analysts said trimming of positions by traders, triggered by sufficient stockists position on increased supplies in the physical market against lower demand from flour mills, mainly influenced wheat prices at futures trade.

Cardamom futures slide 0.78% on low demand

Cardamom prices eased 0.78 per cent to Rs 1,098 per kg in futures trade today as speculators cut down their positions, tracking a weak trend at spot markets on muted demand.

In futures trading at the Multi Commodity Exchange, cardamom for delivery in September month declined by Rs 8.60, or 0.78 per cent to Rs 1,098 per kg in business turnover of 19 lots.

Analysts said offloading of positions by participants owing to subdued demand in the physical markets against adequate stocks mainly weighed on cardamom prices in futures trade.

Tepid demand drags crude palm oil futures down by 0.21%

Crude palm oil prices softened by 0.21 per cent to Rs 480.50 per 10 kg in futures trade today, as speculators reduced their exposure amid sluggish demand in the spot market against adequate stock position.

At Multi Commodity Exchange, crude palm oil for delivery in August declined by Re 1, or 0.21 per cent to Rs 480.50 per 10 kg in business turnover of 14 lots.

Similarly, the oil for delivery in September contracts shed 80 paise, or 0.17 per cent, to Rs 480.50 per 10 kg in 9 lots.

Analysts said trimming of positions by traders following easing demand in the spot market against ample stocks mainly led to decline in crude palm oil prices at futures trade. PTI KPS SUN BAL 08071059 NNNN

Mentha oil futures slip 2.04% on profit-booking

Mentha oil prices drifted lower by 2.04 per cent to Rs 1,158 per kg in futures market today as speculators booked profits, driven by fading demand from consuming industries at the spot markets.

Ample stocks position on higher supplies from producing regions also fuelled the downtrend.

At the Multi Commodity Exchange, mentha oil for delivery in September month fell by Rs 24.10, or 2.04 per cent, to Rs 1,158 per kg in business turnover of 97 lots.

On similar lines, the oil for delivery in August month contracts traded lower by Rs 22.70, or 1.94 per cent to Rs 1,147 per kg in 529 lots.

Marketmen said besides profit-booking by participants, decline in demand from consuming industries at existing levels in spot market and ample stocks position on higher supplies from Chandausi in Uttar Pradesh pulled down mentha oil prices in futures trade.

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