Business Daily from THE HINDU group of publications
Monday, June 16, 2008 ePaper | Mobile/PDA Version
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Business Daily from THE HINDU group of publications Monday, June 16, 2008 ePaper | Mobile/PDA Version |
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Update at 1415 hrs (IST)
Commodities Soyabean, futures rally NEW DELHI: Oilseeds futures on Monday rose sharply in the domestic market following strong overseas trends. On NCDEX counter at 1230 hrs, soyabean futures of June delivery rose 2.29 per cent to Rs 2,653 per quintal. July as well as August contracts were also up by over 2 per cent at Rs 2,617 and Rs 2,582 per quintal respectively. Analysts attributed the sharp rally in the futures to a significant rise in international prices during the last session. At Chicago Board of Trade (CBoT), both soyabean and soyoil futures were trading firm on concern that there would be further delay in soyabean planting in the US due to storm. Today, soyabean prices continued its rally on CBoT and prices rose 1.42 per cent to 1,582 cents per bushel. Meanwhile, mustard seed futures were also trading on a positive note in line with soyabean market. July contract was up by almost 1 per cent at Rs 657.25 per 20 kg and September contract by 1.40 per cent at Rs 681.15 per 20 kg. Stockists and millers are creating long positions in anticipation of further rise in prices amid lower availability of the commodity, an Indore-based trader said. Meanwhile, spot price of soyabean and mustard seed were ruling firm at Rs 2,600 per quinta l and Rs 642.52 per 20 kg respectively. - PTI
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