Barley futures decline on selling pressure

NEW DELHI: Barley futures declined by Rs 27.50 to Rs 1,369 per quintal in the future trading today following increase selling by traders in tandem with weak spot markets sentiment.

Marketmen said increased supply from growing regions and reduced offtake by consuming industries, in physical markets mainly put weight here on futures prices of barley.

Slackness in demand from beer and cattle-feed making industries at current higher levels also influenced trading sentiments, they said.

At the National Commodity and Derivatives Exchange, barley for far November contract dropped by Rs 27.50 or 1.97 per cent to Rs 1,369 per quintal, with an open interest of 250 lots.

Current July contract eased by Rs 8.50, or 0.66 per cent to Rs 1,280.50 per quintal in 1,330 lots.

Most active near August contract fell by Rs 4, or 0.31 per cent to Rs 1,298.50 per quintal, clocking an open interest of 27,810 lots.