India chana, guar futures seen opening steady

MUMBAI, Nov 9 (Reuters) - India's chana futures are likely to open steady on Monday as profit-taking is seen outweighing fears that area under the winter pulse may drop in major producer, Rajasthan, analysts said.

Farmers in Rajasthan have so far completed sowing of chana on 220,000 hectares, down 39 percent from last year, a senior government official said on Wednesday. See [ID:nBMB009019]

Chana, a winter-sown pulse, is priced lower than kharif pulses like tur, urad and moong, but follows their trend as consumers tend to buy the cheaper substitute.

The December chana contract NCHZ9 on the National Commodity Derivatives Exchange ended 0.8 percent lower at 2,702 rupees per 100 kg in the previous session.

GUAR:

Indian guar futures may also open flat as profit-taking is seen offsetting a likely drop in the production in key growing region after poor rains damaged the crop there, analysts said.

Poor monsoon has damaged nearly 70 percent of standing guar crop in Rajasthan, which accounts for four-fifth of the country's guar acreage. See [ID:nBOM490466]

The November guar futures contract NGUX9 ended 0.8 percent lower at 2,561 rupees per 100 kg.

(Reporting by Rajendra Jadhav; Editing by Sunil Nair)