The Hindu Business Line : Chana, soya futures gain

Mumbai, Feb. 6 Futures in agriculture commodities which were trading range-bound with a negative bias on NCDEX, turned the table in the second half to close on a positive note.

Chana futures were close to the upper circuit, but closed with a gain of 2.81 per cent at Rs 2,562 per quintal. “Cold weather in Rajasthan is likely to the yield and quality of the chana crops which are ready for harvesting,” said an analyst.

Investors were seen building up their position in soyabean futures ahead of USDA report to be released on Friday. Soyabean for February delivery on NCDEX gained 0.97 per cent to Rs 2,141 per quintal, while the March contract rose 1.05 per cent to Rs 2,161 per quintal.

“Traders expect the USDA report to cut global production estimates due to dry weather condition in South America,” said an investor.

Cloudy weather condition pushed up mustard seed and turmeric futures by 2.23 per cent to Rs 553 per 20 kg and 0.86 per cent to Rs 3,039 per quintal.

Sugar down

Sugar lost 1.2 per cent to Rs 1,397 per quintal as the Government increased the monthly free sale quota by one million tonne in February and March.

Turnover

MCX recorded a turnover of Rs 6,308 crore up to 5 pm, while it was Rs 2,991 crore on Wednesday.

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