Cottonseed oilcake futures turn mixed

Cottonseed oilcake for delivery in July rose by 0.35 per cent at the futures trading today after participants raised their bets.
However, delivery in far-month August depicted a weak trend on reducing of exposure by participants.
Market players said expanding of positions by participants mainly pushed July contract but delivery in far- month August showed somewhat weakness on monsoon rains.
At the National Commodity and Derivatives Exchange, cottonseed oilcake for delivery this month inched up by Rs 6, or 0.35 per cent, to Rs 1,730 per quintal, having an open interest of 21,510 lots.
On the other hand, the most-active delivery in August was down by Rs 3, or 0.18 per cent, to Rs 1,622 per quintal, with an open interest at 1,01,250 lots.