Cottonseed oil cake futures slip on weak spot cues

Cottonseed oil cake prices receded by Rs 18.50 to Rs 1,728 per quintal in futures trade today amid narrowing of bets by investors dampened by negative physical market leads.

Marketmen said, tracking weak spot markets sentiments, traders preferred to cut down their holdings, which led to the fall in cottonseed oil cake futures prices.

In the spot market, ample stocks on regular supplies from growing regions amid withdrawal of support by the animal feed makers largely held prices down, they added.

At the National Commodity and Derivatives Exchange platform, cottonseed oil cake delivery for the September contract moved down by Rs 18.50, or 1.06 percent, to Rs 1,728 per quintal with the business turnover of 1,37,890 open interest lots.

Meanwhile, the delivery December contract went down by Rs 18, or 1.03 percent, to Rs 1,726 per quintal, with an open interest of 34,830 lots.

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