June 3, 2014 / 1:27 PM / 3 years ago

Indian chickpea futures rise on short covering

NEW DELHI, June 3 (Reuters) - India’s chana, or chickpea, futures rose on Tuesday due to short-covering though approaching monsoon rains over the Kerala coast kept buying interest limited.

* The June chana contract rose 1.8 percent to 2,828 rupees ($47.86) per 100 kg on the National Commodity & Derivatives Exchange (NCDEX).

GUAR SEED

* Guar seed futures ended up on renewed export demand though higher stocks checked buying support.

* The June contract ended up 1 percent at 5,105 rupees per 100 kg.

TURMERIC

* Turmeric futures ended up amid concerns that the monsoon could travel to growing areas of South India a bit late even after its onset over the Kerala coast.

* India’s weather office forecast the arrival of the monsoon rains over the southern Kerala coast around June 5.

* The key June contract ended 0.9 percent up at 6,152 rupees per 100 kg.

OILSEED COMPLEX

Rapeseed futures ended higher as arrivals slowed in spot markets. Soyoil was quoted higher on short-covering, while soybeans ended almost flat despite some buying support due to poor supply in spots.

* At 1255 GMT, the July soyoil contract was 0.3 percent higher at 653 rupees per 10 kg on the NCDEX.

* The June rapeseed contract rose 0.9 percent to 3,389 rupees per 100 kg, while the key soybean contract closed almost flat at 4,418 rupees per 100 kg.

CUMIN SEED

* Jeera, or cumin seed, futures ended up on short-covering as arrivals slowed in spot markets on reports that the new government could initiate steps to control food prices.

* The key June contract closed 0.4 percent up at 11,040 rupees per 100 kg.

SUGAR

* Sugar futures witnessed some buying supports amid reports that India, the world’s second-biggest producer after Brazil, could export higher quantities in the next season.

* The key June contract was quoted 0.1 percent up at 2,998 rupees per 100 kg.

CORN, WHEAT

* The key corn contract was almost flat at 1,149 rupees per 100 kg, while June wheat dropped 0.5 percent to 1,513 rupees per 100 kg. [$1 = 59.095 Indian Rupees] (Reporting by Ratnajyoti Dutta; Editing by Subhranshu Sahu)

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