Soyabean prices came down by Rs 40 to Rs 3,756 per quintal in futures trade today after participants reduced holdings, taking weak cues from the overseas markets.
At the National Commodity and Derivative Exchange, soybean for delivery in April contracts tumbled Rs 40 or 1.05 per cent to Rs 3,756 per quintal, having a business turnover of 2,35,960 open lots.
Soyabean for delivery in the current month also fell by Rs 24, or 0.64 per cent, to Rs 3,748 per quintal with an open interest of 19,700 lots.
Market players said trimming of bets by the participants in tandem with a weak trend in global markets led to fall in soyabean futures prices.
In addition, weakening trend in edible oils prices also put pressure on the soyabean futures prices, they said.
Refined soya oil futures:
Refined soya oil prices drifted down by 0.75 per cent to Rs 783 per 10 kg in futures trade today as speculators reduced exposure, taking negative cues from spot market on subdued demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in April fell by Rs 5.90, or 0.75 per cent, to Rs 783 per 10 kg with an open interest of 66,540 lots.
Similarly, the oil for delivery in March contract was trading lower by Rs 2.50, or 0.32 per cent, to Rs 767.50 per 10 kg in 8,350 lots.
Analysts said offloading of positions by participants owing to slackened demand in the physical market against ample stocks position on increased arrivals from producing belts led to the decline in refined soya oil futures.
Chana futures:
Chana prices slipped by 1.32 per cent to Rs 3,725 per quintal in futures market today as participants reduced exposure amid fall in demand at the spot market against adequate stocks position.
At the National Commodity and Derivatives Exchange, chana for delivery in far-month April fell by Rs 50, or 1.32 per cent to Rs 3,725 per quintal with an open interest of 90,420 lots.
Likewise, the commodity for delivery in March contracts was down by Rs 43, or 1.12 per cent, to Rs 3,784 per quintal in 7,840 lots.
Analysts attributed the fall in chana futures to cutting down of positions by traders due to decline in demand in the physical markets against sufficient stocks position.
Wheat futures:
Wheat prices eased by 0.75 per cent to Rs 1,775 per quintal in futures trade today as speculators reduced holdings, triggered by sufficient stocks position on higher supplies in the spot market.
At the National Commodity and Derivatives Exchange, wheat for delivery in April declined by Rs 13, or 0.73 per cent, to Rs 1,775 per quintal with an open interest of 1,140 lots.
Market analysts said offloading of positions by traders, driven by ample stocks position on increased arrivals from producing belts in the physical market against low demand, put pressure on wheat futures.
Mentha oil futures:
Mentha oil prices moved up by 1.82 per cent to Rs 1,221.60 per kg in futures market today as speculators raised bets, driven by pick-up in demand from consuming industries in the domestic spot market.
At the Multi Commodity Exchange, mentha oil for delivery in far-month April rose by Rs 21.80, or 1.82 per cent to Rs 1,221.60 per kg in a business turnover of 91 lots.
In a similar fashion, the oil for delivery in March contracts went up by Rs 17.30, or 1.43 per cent, to Rs 1,224 per kg in 166 lots.
Marketmen said widening of positions by participants following rising demand from consuming industries in the spot market against tight stocks position on fall in supplies from Chandausi, attributed the rise in mentha oil prices in futures trade.
Cardamom futures:
Cardamom prices drifted lower by 1.93 per cent to Rs 1,041 per kg in futures trade today as speculators cut bets amid fall in demand in the spot markets against adequate stocks position.
At the Multi Commodity Exchange, cardamom for delivery in April fell by Rs 20.50, or 1.93 per cent, to Rs 1,041 per kg in business turnover of 41 lots.
Similarly, the spice for delivery in May contracts was trading lower by Rs 20.20, or 1.86 per cent, to Rs 1,068.10 per kg in 2 lot.
Analysts said offloading of positions by traders owing to slackened demand in the physical market against ample stocks position on increased supplies from producing belts weighed on cardamom prices in futures trade.
