Barley futures shed fresh ground

Barley prices drifted lower by Rs 16 to Rs 1,504 per quintal in futures trading today after participants locked in gains amid a weak trend at the spot markets.
Marketmen said emergence of profit-booking at higher levels, mainly led to fall in barley prices at futures trade.
Besides, higher supplies and withdrawal of buying by the beer and poultry feed makers in the spot markets, too dampened trading sentiment, they added.
At the National Commodity and Derivative Exchange, barley for delivery in June lost Rs 16 or 1.05 per cent to Rs 1,504 per quintal, having an open interest of 3,070 lots.

Similarly, the barley for the most-active delivery this month contract month turned down by Rs 11.50 or 0.77 per cent to Rs 1,475 per quintal, showing an open interest of 5,100 lots.