The Hindu Business Line : Maize futures gain on firm spot market

Mumbai, Nov. 7 Strong international markets boosted soyabean futures by 1.8 per cent to Rs 1,700 per quintal on NCDEX. “CBOT soyabean and soya oil futures made a 3 year and 33 year highs, respectively, while crude palm oil futures crossed the psychological barrier of MYR (Malaysian ringgits) 3000 per tonne,” said an analyst.

Maize for November delivery gained 1.06 per cent to Rs 717 per quintal on firm spot markets. Barley prices edged up by 0.91 per cent to settle at Rs 1,248 per quintal on supply crunch and rising demand in the market. Kapas prices closed with 0.87 per cent gain at Rs 452 per 50 kg on firm markets in Gujarat.

Among the losers, pepper futures tumbled by 2.18 per cent to Rs 13,780 per quintal due to speculative selling. Guar seed futures fell 1.68 per cent to Rs 1,638 per quintal on weak spot markets. Arrivals were high at about one lakh bags in Rajasthan and Haryana.

Chilli declines

Chilli futures dropped 1.19 per cent to Rs 4,385 per quintal as a result of increased selling pressure in the spot market. Jeera and turmeric futures dipped marginally.

After the recent fall, kapaskhali on MCX gained 2.13 per cent to Rs 321 per 50 kg. Potato futures dropped 2.19 per cent to Rs 644 per quintal on lack of demand in the Agra markets. Mentha futures lost marginally.

MCX registered a turnover of Rs 8,767 crore up to 5 pm, while on NCDEX it was Rs 1,976 crore.