Cottonseed oil cake futures gain on spot market sentiment

Cottonseed oil cake prices strengthened by Rs 14 to Rs 1,806 per quintal in futures trade today on accumulation of positions by the participants amidst firm physical markets sentiment.
Marketmen said taking upbeat leads from physical markets, traders widened their positions, which ascertained uptick in cottonseed oil cake futures prices.
Brisk demand for animal feed makers at the spot markets mainly influenced prices in future trade, they added.
At the National Commodity and Derivative Exchange counter, cottonseed oil cake delivery for February contract advanced by Rs 14 or 0.78 per cent to Rs 1,806 per quintal, with an open interest of 31,790 lots.

The delivery for the most traded January month contract also moved up by Rs 12 or 0.68 per cent to Rs 1,776.50 per quintal, revealing an open interest of 92,670 lots.