Guar seed futures dip on subdued physical lead

Guar seed prices plunged by Rs 50.50 to Rs 4,599 per quintal in futures trade today as traders cut positions in tune with downbeat physical cues.

Marketmen said, following down trend in the spot markets, where prices traded lower due to easing demand from guar gum makers amid soaring stocks on end less supplies at prevailing levels, traders indulged in cutting down their bets, which reflected down slide in guar seed futures prices.

At the National Commodity and Derivatives Exchange platform, guar seed delivery for November slipped by Rs 50.50 or 1.09 per cent to Rs 4,599 per quintal, clocking an open interest of 7,680 lots.

In a similar step, the delivery of the most-traded first contract October month dipped by RS 49.50 or 1.07 per cent to Rs 4,569 per quintal, open interest stood at 1,25,940 lots.