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Cottonseed oil cake futures tumbles due to cutting down holdings

Marketmen said following subdued physical markets leads, where prices ruled lower due to mounting of stocks on consistent arrivals amid withdrawal of support by the cattle feed makers, discouraged traders, which brought down the futures prices of cottonseed oil cake.


PTI 03 Aug 2018, 06:32 AM India
  • Cottonseed oil cake prices tumbled by Rs 24.50 to Rs 1,787.50 per quintal in futures trade today after cutting down holdings by the speculators in tune with muted spot markets cues. (Image Credit: Flickr)

Cottonseed oil cake prices tumbled by Rs 24.50 to Rs 1,787.50 per quintal in futures trade today after cutting down holdings by the speculators in tune with muted spot markets cues.

Marketmen said following subdued physical markets leads, where prices ruled lower due to the mounting of stocks on consistent arrivals amid withdrawal of support by the cattle feed makers, discouraged traders, which brought down the futures prices of cottonseed oil cake.

At the National Commodity and Derivatives Exchange counter, cottonweeds oil cake delivery for August plunged by Rs 24.50 or 1.35 per cent to Rs 1,787.50 per quintal, having the business turnover of 65,640 open lots.

Likewise, the delivery of the most active near contract September month dipped by Rs 23.50 or 1.28 per cent to Rs 1,811 per quintal, clocking an open interest of 1,05,050 lots.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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