Cottonseed oilcake futures surge by Rs 26 per quintal

Cottonseed oilcake futures traded higher by Rs 26 to Rs 2,210 per quintal today as participants built-up speculative positions amidst deficient rains in growing regions.
At the National Commodity and Derivative Exchange, conttonseed oilcake for delivery in far-month June contracts was trading higher by Rs 26, or 1.19 per cent to Rs 2,210 per quintal, in an open interest of 1,980 lots.
Cottonseed oilcake for delivery in March gained Re one, 0.05 per cent to Rs 2,115 per quintal, with an open interest of 83,760 lots.
Marketmen said deficient rates in growing betls amidst pick up in demand, mainly influenced trading sentiments.