The free sale release for October at 10.5 lakh tonnes and 9.5 lakh tonnes each for November and December was considered to be satisfactory by the trade. Besides, the operation of October quota has been preponed making it effective from 23rd of this month.

This induced heavy offerings and the price crashed by Rs 20 to 25 a quintal after opening firm in the morning. M-30 were on offer at Rs 1,545-1,560 and S-30 at Rs 1,510-1,525 ex-octroi checkpost. Before quota news, M-30 had peaked Rs 1,580-1,630 and S-30 to Rs 1,560-1,585 ex-godown due to reserved selling and active demand in the wake of imminent transport strike.Ex-mill M-30 at Rs 1,470-1,480 and S-30 at Rs 1,450-1,460 in Kolhapur line lost Rs 20. Further drop of Rs 15 to 20 was on the cards, averred trade sources.

Yarn further up
Polyester depicted further firmness on the yarn market following reserved selling by the spinners.

The price improved by Rs 2 to 3 a kg afresh. Grey first quality of medium sized units 80 dn roto went up to Rs 100, micro roto Rs 107-108 and weft to Rs 96-98. 150 dn weft were traded at Rs 85-86, single roto at Rs 86-87 and micro roto at Rs 100.

Grains steady
A steady condition prevailed on the grains market.

Wheat milling ruled at Rs 700-725 and MP Sarbati at Rs 900-1,200 a quintal.Rice Gujarat-17 were placed at Rs 1,200-1,400 and SLO at Rs 900-1,150.Green peas USA Rumba/ Heart ruled at Rs 1,175, Canada at Rs 861-871, white Canada ready at Rs 841 and incoming at Rs 821. Tur Myanmar old were traded at Rs 1,200 and new at Rs 1,275. Malawi tur found sellers at Rs 1,250-1,275, Kenya at Rs 1,300-1,350 and Tanzania at Rs 1,400-1,425.

Rajma chitra chinese new and old were placed at Rs 1,600-1,625 and at Rs 1,350-1,400 respectively. Red rajma Myanmar ruled at Rs 1,200-1,300.

Silver recovers
Silver prices recovered on the bullion market here today on fresh demand from industrial users. Gold, however, continued to rule steady in the absence of market-moving factors.

Marketmen said trading was thin in domestic as well as ininternational markets. They said traders refrained from doing business before the next major event as the Bank of England gold auction was scheduled for September 19.

Silver spot (.999 fineness) and tenderable both recovered by Rs 15 each to close at Rs 8010 and Rs 8015 respectively from Rs 7995 and Rs 8000 previously. Raw-silver (.916 fineness) also moved up by Rs 25 to Rs 7885 from Rs 7860 previously.

However, standard gold and 22-carat gold both ruled unaltered at Rs 4490 and Rs 4155 respectively. Ten-tola gold bar (.999 purity) was also quoted unchanged at Rs 52500. In the global market silver prices slid modestly from $4.89 to $4.88 per ounce. Gold prices fell from $272.95 to $272.85 per ounce, it was learnt.

Despite bearish trend in the global market offerings by stockists and bankers remained scattered in the city market due to upsurge in dollar value against rupee, dealers said. Dollar rose by 10 paise at Rs 45.78 during the week.

Punjab cotton dips
Sharp drop in the price of Punjab zone goods highlighted trading on the cotton market.

Following arrival of 800 bales of Bengal Deshi and 150 bales of J-34, price slid down sharply. J-34 saw ginned good average lost Rs 55 to 60 a maund while Bengal Deshi roller ginned were down by Rs 20. J-34 saw ginned good average 25th September delivery, Punjab ruled at Rs 1,825-1,855, Haryana at Rs 1,825 and Rajasthan at Rs 1,820-1,835.

Quotations for the whole October delivery ruled at Rs 1,725-1,775, Rs 1,725 and Rs 1,720 respectively. Bengal Deshi roller ginned Haryana ruled at Rs 1,040-1,050 and Rajasthan at Rs 1,050-1,060.

Castor futures slump
A sharp fall in castorseeds futures marked trading on the oils and oilseeds market here today.

Castorseeds futures declined sharply due to profit-taking by stockists. The December contract resumed lower at Rs 1398 and hovered between Rs 1405 and Rs 1364 before closing at Rs 1366 as against Rs 1405 yesterday, showing a sharp fall of Rs 39.

In castoroil international contract, October delivery ruled steady at Rs 328. In RBD palmolein futures, October delivery eased further to close at Rs 212.50 from Rs 213.50 previously. However, November delivery edged up to Rs 214.50.

Turning to the industial section castoroil commercial eased to Rs 322 from Rs 323 due to poor offtake. Castorseeds bold Madras also edged dowm by Rs 5 to Rs 1460 on lack of export enquiries.However, linseed oil ruled steady at Rs 300.

News of commencement of new crop supplies of castorseed in Andhra Pradesh weakened the market sentiment and according to traders, they are expecting fresh supplies of 5000/6000 bags of new crop castor oil in Hyderabad on Monday, it was learnt. Groundnut oil and palmolein both ruled unchanged at Rs 370 and Rs 214 respectively. In the global market palm oil remained steady at the reduced level of $277.50 per tonne for nearby delivery and at $282.50/287.50 for long delivery, it was learnt. Copper, tin inch upPrices of copper and tin edged up further on the non-ferrous metal market here today on sustained demand from industries. Lead also looked up.

Copper scrap heavy inched up further to Rs 128 per kg, followed by copper wire bar to Rs 148.25, tin to Rs 387 and lead to Rs 41.50 per kg.

Other metals ruled steady.