Cottonseed oilcake futures remain down

Cottonseed oilcake extended losses for yet another day with prices falling by Rs 31 to Rs 2,464 per quintal in futures trading today as participants engaged in trimming positions amid a weak trend at the spot markets.
Marketmen said offloading of positions by traders amid a weak trend at the physical market on supply pressure following monsoon rains, led to fall in cottonseed oilcake prices at futures trade here.
At the National Commodity and Derivative Exchange, cottonseed oilcake for delivery in September month slipped further by Rs 31, or 1.24 per cent to Rs 2,464 per quintal, in an open interest of 49.720 lots.

On similar lines, delivery in far-month December contract fell by Rs 24, or 1.16 per cent to Rs 2,040 per quintal, having an open interest of 37,830 lots.