Chana futures remain weak on adequate stocks

Chana futures traded 0.84 per cent lower at Rs 6,032 per quintal today as participants trimmed their positions, triggered by ample stocks on higher supplies from producing belts at spot market against subdued demand.
However, lower estimated output restricted the losses.
At the National Commodity and Derivatives Exchange, chana for delivery in June drifted lower by Rs 51 or 0.84 per cent to Rs 6,032 per quintal with an open interest of 9,220 lots.
In a similar fashion, the commodity for delivery in July contracts traded lower by Rs 50 or 0.81 per cent to Rs 6,134 per quintal in 10,340 lots.

Market analysts said offloading of positions by traders against adequate stocks on higher supplies from producing belts in the physical market kept pressure on chana prices at futures trade.