Thursday, June 23, 2011

NCDEX Agri Commodity (Pepper, Guar Seed) news & Trading Tips

Pepper futures have succumbed to profit booking extending their fall on Thursday. Traders have been reportedly waiting for some corrections in market rates for new demand as overall trend remains firm and there are expectations that rates have corrected a lot and further down trend possibility could be limited.

The contract for Pepper July delivery was trading at Rs 29950.00, down by 1.56% or Rs 475.00 from its previous closing of Rs 30,425.00. The open interest of the contract stood at 7278 lots. The contract for Pepper August delivery was trading at Rs 30039.00, down by 1.49% or Rs 455.00 from its previous closing of Rs 30,494.00. The open interest of the contract stood at 1955 lots on NCDEX.

Guar Seed futures are suffering profit booking after prices moved higher on reports of weak Monsoon, on apprehensions that it would affect the sowing prospects adversely. Traders are also not ruling out an increase in sowing area this year after the prices surged to record levels.

The contract for Guar Seed July delivery was trading at Rs 3460.00, down by 0.32% or Rs 11.00 from its previous closing of Rs 3471.00. The open interest of the contract stood at 213640 lots. The contract for Guar Seed August delivery was trading at Rs 3509.00, down by 0.54% or Rs 19.00 from its previous closing of Rs 3528.00. The open interest of the contract stood at 44270 lots on NCDEX.

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