Guar seed futures traded down on MCX as a result of selling pressure at higher levels. Further, expectations of higher output as farmers expanded the area under cultivation and on conducive weather. However, a decline in guar seed supply and market speculation limited the further loss in Guar seed price.
The contract for October delivery was trading at Rs 6,308.00 /100 KG, down by 3.99% or Rs 262.00 from its previous closing of Rs 6,570.00 /100 KG. The open interest of the contract stood at 279 lots.
The contract for November delivery was trading at Rs 6,197.00 /100 KG, down by 2.99% or Rs 191.00 from its previous closing of Rs 6,388.00 /100 KG. The open interest of the contract stood at 191 lots on MCX.