Cottonseed oil cake futures goes up on short-covering

Cottonseed oil cake prices were higher by Rs 15 to Rs 1,611 per quintal in futures trading today after participants created positions amid short-covering at existing levels.

At the National Commodity and Derivative Exchange, the most-traded, delivery in August contracts moved up by Rs 15 or 0.94 per cent to Rs 1,611 per quintal, with an open interest of 1,00,750 lots.

Cottonseed oil cake for the immediate contract July month gained by Rs 2 or 0.12 per cent to Rs 1,727 per quintal, in an open interest of 3,790 lots.

Marketmen said a firm trend at the physical markets following tight supplies and covering-up of short positions by speculators, attributed the rise in cottonseed oilcake prices at futures trade here.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)