The Hindu Business Line : Rapeseed, wheat futures gain

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Mumbai Feb. 2 Commodity futures trading on NCDEX and MCX saw good buying interest, with most commodities ending Friday on a positive note.

Rapeseed/ Mustardseed (RM seed) gained 1.09 per cent to Rs 404 per 20 kg on a drop in production.

"The RM seed production this year is estimated at 55 lakh tonnes against 68.7 lakh tonnes last year.

Farmers have shifted to wheat and chana as their prices are higher," said G. Raghu, a trader on NCDEX.

After hitting the lower circuit on Thursday, chana futures for February delivery was up 1.47 per cent at Rs 2,342 per quintal. Chana on NCDEX fell from Rs 2,565 per quintal on January 30 to Rs 2,280 on Friday and found a few buyers at the lower levels.

Wheat futures on NCDEX rose 1.64 per cent to Rs 1,044 per quintal on renewed investors' interest.

Guarseed futures were up 1.50 per cent at Rs 1,967 per quintal.

Firm international markets prompted some buying in soyaoil at Rs 454 per quintal, up 0.54 per cent.

Jeera futures, which were falling in the last three sessions, were marked up 0.80 per cent at Rs 9,084 per quintal. Kapas and Kapaskhali futures on MCX continued their upward march to close at Rs 326 per 20 kg and Rs 411 per 50 kg, a rise of 1.68 per cent and 1.37 per cent, respectively.

NCDEX registered a turnover of Rs 3,091 crore (Rs 3,242 crore, up to 11 pm) up to 5 pm on 1,12,260 (1,14,430) trades while on MCX it was Rs 2,746 crore (Rs 9,923 crore, up to 11 pm) on 58,559 (1,85,030) trades. Active trades were seen in chana, pepper, guarseeds, refined soy oil, jeera and gold.