Following increased pressure of seasonal arrivals, coupled with bearish producing centre advices new wheat price dropped down by Rs 50 a quintal. Saurashtra Lokvan average were down to Rs 775-850 and superior at Rs 850-900. SW were placed at Rs 800-900.

In sympathy, MP 147 and Sarbati were down to Rs 750-850 and at Rs 900-1300 respectively. The market had received around 50 lorryloads of material from Saurashtra. Among old wheat, north Gujarat Sonaklyan/Tukadi at Rs 800-850, SW at Rs 875-900 and 496 at Rs 775-950 were subdued.

Rice were maintained. Rice Gujarat-17 were transacted at Rs 1750-1850. Perimal Punjab ruled at Rs 950-1100 and superior at Rs 1200-1400.Among pulses, green peas USA Heart were on offer at Rs 1325 and Canadian at Rs 825-925. Moong Myanmar were placed at Rs 1625-1750 and Chinese at Rs 1800-1825. Rajma Chitra deshi were traded at Rs 2500 andChinese at Rs 2300. Red rajma Myanamar ready were placed at Rs 2300-2500 while the consignements due this week were quoted at Rs 2100.

Bullion reacts
Both the precious metals reacted at higher level on the bullion market here today. Standard gold eased by Rs 10 to Rs 4,350 per 10 gm. Gold .22 carat was down by same margin to Rs 4,025 per 10 gm.in sympathy. Seasonal buying was at a low ebb while weak overseas advices prompted profit-taking. Prices of gold biscuit (116.50 gm.) however closed steady at Rs 51,100 per piece. In the overseas market the yellow metal moved down from $288.30 to $287.40 per ounce.

Silver .999 softened by Rs 10 to Rs 8,350 per kg. In the ready section silver .916 was down by Rs 5 to Rs 8,210 per kg. Industrial demand was slow while continued inflow of raw silver from local sources and bearish global advices put pressure on the market, dealers said. Delhi was weak and in the global market the white metal declined from $5.63 to $5.58 per ounce.

Sugar divergent
Anarrowly mixed trend prevailed on the sugar market.M-30 were placed at Rs 1401-1470 and S-30 at Rs 1380-1425 a quintal ex-godown. Ex-octroi checkpost, the price ruled at Rs 1390-1400 and at Rs 1370-1380 respectively.

In tenders, M-30 were placed at Rs 1345-1350 and S-30 at Rs 1330-1340 in Kolhapur line.

Brazilian white sugar at Rs 1320 and biscuit colour at Rs 1230 plus sales tax were unchanged.

Oil prices drop further
Groundnut oil extended losses on the oil,oilseeds market here today. Castorseed and its oil too eased further in absence of overseas buying couled with continued supplies.

Groundnut oil slid by Rs 5 to Rs 405 per 10 kg amidst sluggish local demand and higher new crop supplies. In Rajkot it was quoted Rs 10 lower at Rs 610/615 per 15 kg. Imported palm oil fell by Rs 4 to Rs 313 per 10 kg. Palm oil prices in the global market dropped to $540 per tonne for nearby delivery and to $505/510 for long delivery, it was learnt.

Castor oil prices crashed by Rs 7 to Rs 320/334 per 10 kgamidst lower than expected export demand. Castorseed slipped by Rs 34 to Rs 1434/1440 per quintal in sympathy.

In the futures section castorseed March delivery declined from Rs 1437 to Rs 1414 and June delivery from Rs 1436 to Rs 1416 per quintal as losses in the Gujarat region triggered panic selling in the local ring, it was said.

In Ahmedabad April delivery slumped to Rs 1406 and in Rajkot it was quoted at Rs 1,398 per quintal. Castorseed arrivals in the Gujarat region has picked up to 40000/45000 bags, it was gathered.

Punjab cotton looks up
A mixed trend was noticed on the cotton market.In punjab zone, J-34 price looked up by Rs 10 to 15 a maund on better buying inquiries. Saw-ginned good average ruled at Rs 1635-1760 and cart selected at Rs 1715-1945 spot. Bengal deshi roller-ginned ruled steady at Rs 1400-1460.

V-797 were down to Rs 15,000-15,100 a candy on improved supply. Sanker were static at Rs 18,000-18,800 for average and at Rs 19,300-19,700 for superior.

Yarn edgesup
A steady-to-slightly better trend prevailed on the yarn market.In polyester texturised yarn, 80dn rotoset price firmed up by a rupee a kg at Rs 97-98 for grey first quality medium-sized units goods. 80dn micro rotoset at Rs 100, weft at Rs 88-89, warp at Rs 97-98, 80/1000dn at Rs 135-140 and 80/1400dn at Rs 145-150 were well-held at high levels.

150dn also ruled steady. Weft were in demand at Rs 66-67 and warp at Rs 76-77. Single roto and double roto were traded at Rs 70-71 and at Rs 72-73 respectively.