Trade high in most farm products, fall in Argentinian prices pull soya
By TNN |
Highlights
MUMBAI: Trades looked up at NCDEX on Thursday with Rs 2,263 crore volumes clocked up to 5 pm. Active trades were high in among others chana, refined soya oil, guarseeds, soya bean, urad desi and tur desi.
Chana for February delivery was up four-fifths of a per cent at Rs 2,230 per quintal. The benchmark February soya oil contract was down nine-tenths of a per cent at Rs 468.1 per 10 kg while soyabean for February delivery was down half a per cent at Rs 1,440.9 per kg.
The reason for the dip in the soya complex was the fall in fob prices in Argentina from $655 per tonne to $615 per tonne over the past two weeks. The CIF prices in India which were at $725 have come down to $685. Consequently, hedgers who had booked oil from Argentina were sellers in futures for March and April. The fall of these two futures pushed down the February contracts in both soya oil and soyabean.
Among pulses, urad for February delivery was down 2.4% at Rs 2,854 per quintal while tur for the most active March contract fell seven-tenths of a per cent to Rs 2,343 per quintal. An analyst from Geojit Commodities said that arrivals of urad in parts of Maharashtra and Orrisa may soften prices.
The sentiment among bullion traders was high as price was trading at $636.30 per troy ounce in New York. MCX gold for February was trading at Rs 9,154 up from Wednesday���s close of Rs 9,107 at 8 pm. The volumes were at 18,032 kg. March silver was trading at Rs 19,294 per kg up from Wednesday���s Rs 19,209, with a volume of 27,712 kg.
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Crude was trading up, at Rs 2,378 per barrel from Rs 2,331 the previous day. Copper traded within range at Rs 254.40 from Wednesday���s Rs 255.20 with a volume of 48,624 kg while zinc closed at Rs 165.20 up from Rs 163.30 with a volume of 9,408 kg.Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
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