Cottonseed oil cake futures gain on encouraging physical leads

NEW DELHI, Aug 13: Cottonseed oil cake prices bounced by 2.27 per cent to Rs 1,778 per quintal in futures trade today as investors widened exposure, spurred by firm physical markets cues.
Marketmen said, operators were raising holdings induced by sturdy demand for cattle-feed makers amid thin supplies in the spot markets, which brought sharp up movements in cottonseed oil cake futures prices.
At the National Commodity and Derivatives Exchange, delivery for August shot up by Rs 39.50, or 2.27 per cent, to Rs 1,778 per quintal, with the open interest of 6,230 lots.
In line with the general trend, the delivery of the most traded near contract September hardened by Rs 36.50, or 2.03 per cent, to Rs 1,883 per quintal, turnover having in 1,30,950 open lots. (PTI)