Chana futures down 0.46 pc on higher sowing hopes

NEW DELHI: Chana prices fell Rs 20 to Rs 4,339 per quintal in futures trade today as speculators reduced exposures amid higher sowing hopes on favourable weather conditions.

Besides, sluggish spot demand also weighed on the chana futures.

At the National Commodity and Derivatives Exchange, chana for delivery in December fell by Rs 20, or 0.46 per cent, to Rs 4,339 per quintal, with an open interest of 73,220 lots.

The commodity for delivery in November also weakened by Rs 3, or 0.06 per cent, to Rs 4,700 per quintal, with an open interest of 58,550 lots.

Marketmen said besides hopes of higher sowing following favourable weather condition amid subdued demand in the spot market mainly put pressure on chana prices at futures trade.