Cottonseed oilcake futures surge by Rs 40/a qtl

Cottonseed oilcake prices spurted by Rs 40 to Rs 2,011 per quintal in future trading today following widening of positions by speculators, taking positive cues from the rising physical markets.
At the National Commodity and Derivative Exchange, cottonseed oilcake for most-active delivery in December contracts zoomed Rs 40 or 2.03 per cent to Rs 2,011 per quintal, with an open interest of 68,090 lots.
Second contract January month delivery hardened by Rs 26 or 1.33 per cent to Rs 1,984 per quintal, in an open interest of 40,990 lots.
Marketmen said the rise in cottonseed oilcake prices at futures market was mostly supported by expanding of positions by participant s, tracking a firm trend at the physical markets on the back of strong demand against restricted supplies.