Soyabean futures declined sharply on the National Commodities and Derivatives Exchange (NCDEX) during the Monday afternoon trading following market regulator SEBI to ban futures and options trading in soyabean and six other agriculture commodities.

January soyabean futures were trading at ₹6,020 on NCDEX on Monday afternoon against the previous close of ₹6,279, down by 4.12 per cent.

On Monday, SEBI banned futures and options trading in seven agriculture commodities, including mustard seed, soyabean and its derivatives, and crude palm oil (CPO) for a period of one year.

On NCDEX, the December refined soyabean oil futures were trading at ₹1,182 on Monday afternoon against the previous close of ₹1,190, down by 0.69 per cent.

December mustard seed futures were lower by 1.08 per cent on Monday afternoon. The December mustard seed contracts were trading at ₹7,850 on NCDEX as against the previous close of ₹7,936.

However, the April turmeric (unpolished) futures were trading at ₹9254 on NCDEX on Monday afternoon against the previous close of ₹9,162, up by 1 per cent.

MCX

On the Multi Commodity Exchange (MCX), January crude oil futures were trading at ₹5,198 against the previous close of ₹5,398, down by 3.71 per cent, on Monday afternoon.

This followed the weakness in the global market. The global market players were worried about the future demand for fuel following the spread of omicron variant of corona virus in different countries. They felt that such a situation could lead to restrictions and lockdown in many parts of the world. On Sunday, The Netherlands imposed a nationwide lockdown. Many European nations are also looking at increasing restrictions during the Christmas and New Year celebrations to avoid the spread of the virus.

February Brent oil futures were trading at $71.16, down by 3.21 per cent; and the January crude oil futures on WTI were trading at $68.14, down by 3.84 per cent.

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