Cottonseed oil cake futures drop on physical sentiment

Cottonseed oil cake prices looked down by Rs 11 to Rs 1,710 per quintal in futures trade today as participants liquidated holdings, tracking a weak trend at the physical markets.
Marketmen said offloading of the positions by speculators following a weak trend at the domestic spot markets on increased supplies from growing regions largely on timely arrival of monsoon rains, mainly weighed on cottonseed oil cake prices at futures trade here.
At the National Commodity and Derivatives Exchange, cottonseed oil cake for delivery in July weakened by Rs 11, or 0.64 per cent, to Rs 1,710 per quintal, depicting an open interest of 99,460 lots.

Cottonseed oilcake for delivery in August fell by a similar margin to trade at Rs 1,709 per quintal, in an open interest of 72,120 lots.