Guar seed futures traded in the positive zone on MCX as farmers held back supplies on hopes of better prices offsetting higher area under cultivation. Further, speculators enlarging their positions on expectations that demand in the spot markets might pick-up in coming days also influenced Guar seed prices at futures trade. However, hopes of bumper production because of an expanded area under cultivation and conducive weather limited the upside.
The contract for October delivery was trading at Rs 4720.00 /100 KG, up by 2.16% or Rs 100.00 from its previous closing of Rs 4620.00 /100 KG. The open interest of the contract stood at 847.00 lots.
The contract for November delivery was trading at Rs 4497.00 /100 KG, up by 1.44% or Rs 64.00 from its previous closing of Rs 4433.00 /100 KG. The open interest of the contract stood at 895.00 lots on MCX