India chana steady; guar down on profit-taking

MUMBAI, Nov 4 (Reuters) - India's chana futures were treading water on Wednesday morning as profit-taking offset firm prices of kharif pulses and improvement in demand, analysts said.

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.

At 10:55 a.m., the November chana contract NCHZ9 on the National Commodity Derivatives Exchange was down 0.23 percent at 2,646 rupees per 100 kg, after gaining 7 percent in October.

GUAR:

Indian guar futures, which were trading near contract highs, fell on profit-taking, but lower output concerns due to crop damage in key growing areas limited the downside, 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]

At 10:57 a.m., the November guar futures contract NGUX9 was down 0.39 percent at 2,535 rupees per 100 kg.

(Reporting by Rajendra Jadhav & Sourav Mishra; Editing by Prem Udayabhanu)