Cottonseed oilcake futures advance on positive spot cues

Cottonseed oil cake prices improved by Rs 15 to Rs 1,532 per quintal in futures trading today as traders widened bets, tracking a firm trend at the spot markets.
Marketmen attributed the rise in cottonseed oilcake prices in futures market to raising of positions by participants, tracking upbeat sentiments at the physical markets on pick-up in demand amid tight supplies.
At the National Commodity and Derivatives Exchange, cottonseed oilcake for delivery in September gained Rs 15, or 0.99 per cent, to Rs 1,532 per quintal, with an open interest of 25,550 lots.
Cottonseed oilcake for August contracts also edged up by Rs 10, or 0.66 per cent, to Rs 1,533 per quintal, having an open interest of 1,01,220 lots.