Cotton seed oilcake futures up on firm spot market

Cottonseed oilcake prices rose by Rs 19 to Rs 1,724 per quintal in futures trade today as traders were accumulated positions in sync with emerging spot markets.
Marketmen attributed the rise in cotton seed oilcake prices to raising of positions by participants, tracking a firm trend at the spot markets on thin stocks position following restricted arrivals and strong demand in spot markets.
At the National Commodity and Derivative Exchange (NCDEX), cotton seed oilcake for delivery in current month improved by Rs 19, or 1.11 per cent, to Rs 1,724 per quintal, with an open interest of 60,410 lots.
The oilcake delivery for August increased by Rs 14 or 0.85 per cent to Rs 1,658 per quintal, having an open interest of 90,070 lots.

Other contracts too were trading higher as participants indulged in enlarging their bets.