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

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 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 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.


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.


* 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 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.


* 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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