Cottonseed oilcake futures shed Rs 20 per quintal

NEW DELHI: Cottonseed oilcake prices drifted by Rs 20 to Rs 2,029 per quintal in futures trading today as speculators trimmed positions at higher levels coupled with a weak trend at the physical markets.

Marketmen said offloading of positions by speculators at prevailing levels and a weak sentiments at the spot markets, mainly pulled down cottonseed oilcake prices at futures trade here.

In futures trading at the National Commodity and Derivatives Exchange, cottonseed oilcake for delivery in far-month February dipped by Rs 20 or 0.98 per cent to Rs 2,029 per quintal, having an open interest of 4,920 lots.

Also, delivery in far-month December delivery lost Rs 15 or 0.74 per cent to Rs 2,005 per quintal, having an business turnover of 66,680 open lots.