Barley futures down on weak spot cues

Barley prices drifted lower by Rs 20.50 to Rs 1,504.50 per quintal in futures trading today after speculators liquidated holdings, triggered by a weak trend at the physical markets.
Market players said a weak trend at the spot markets due to muted demand from beer and poultry feed makers against ample stocks increased arrivals from growing belts, mainly weighed on barley prices in futures trade.
At the National Commodity and Derivative Exchange, barley for delivery in December fell by Rs 20.50 or 1.31 percent to Rs 1,504.50 per quintal, having an open interest of 610 lots.