Rajmah surges, gram, arhar strengthen

NEWS DIGEST

Rajmah prices climbed on the wholesale pulses market today largely on reports of considerable fall in its production and registered a significant rise. Gram and arhar also ended in positive zone on firming advises from producing centres.

Marketmen attributed the rise in rajmah prices to reports of considerable fall in commodity's production. Traders said fresh buying by stockists against tight stocks position mainly pushed up gram prices.

Rajmah chitra pune and china were up by Rs 200 each at Rs 4150-4750 and Rs 4100-4225 per quintal respectively. Gram remained firm and gathered another Rs 50 at Rs 2525-2530 a quintal. Its dal (local) followed suit and quoted higher at Rs 2850-2900 a quintal.

Sugar prices remain steady in thin trading

Prices remained steady on the wholesale sugar market here today with prices by and large after moving in a tight range on little bouts of buying and selling, finished unchanged.

Marketmen said ample supply against the demand mainly kept the prices around overnight levels.

Jeera prices decline for want of support

In restricted activity, prices of jeera moved down on the wholesale kirana market today on sluggish demand and ended lower. Elsewhere, prices moved in a narrow range in limited deals and pegged around overnight levels.

Marketmen said sluggish demand against fresh arrival mainly helped jeera prices to decline. Jeera common and jeera dollar quoted lower at Rs 8800-9100 and Rs 9100-9200 against last close of Rs 9100-9400 and Rs 9300-9400 per quintal respectively.

Nybot cotton futures down in US market

US cotton futures closed slightly lower Wednesday, though the market pared an early loss on trade buying and as specs turned buyers later in the session, which inspired short-covering, sources said.

Most-active March cotton fell 17 points to settle at 53.93 cents - up from the 53.35 one- month low hit earlier in the session. May lost 22 points to settle at 54.75 cents. Volume was heavy.

A rebound in Chicago Board of Trade corn and soybean prices also improved sentiment in cotton, according to Keith Brown, principal of Keith Brown & Co. In Moultrie, Ga. "We may have taken a cue from Chicago. Corn and beans were down and corn came back to close about 6 cents higher and beans got up off the floor and rallied 10 cents to close slightly higher," said Brown.