Pulses, wheat flare up

Mumbai, Oct 30 | Updated: Oct 31 2006, 05:32am hrs
Near month pulses and wheat futures were up on Monday. Pulses gained on uncertainties in market arrivals, while wheat moved up after the government raised the minimum support price.

Gold was up on Monday as dollar strengthened. Expectations that the Federal Reserve will keep rates unchanged helped gold. Crude as the reason for appreciation in gold prices took a back seat.

By 1700 hours on the NCDEX, chilli for near month delivery traded at Rs 4,755 per 100 kg, up Rs 178 or 3.8% over the previous close of Rs 4,577, the contract touched a low of Rs 4,480 and a high of Rs 4,846 or up 5.9%.

Near month chana traded at Rs 3,044 per 100 kg, up Rs 55 or 1.84% over the previous close of Rs 2,989. The contract touched a low of Rs 2,954 intra-day. The far months are in deep backwardation as the markets expect the new crop arrivals to begin by February.

Guarseed near month contract traded at Rs 1,930 per 100 kg, up Rs 48 or 2.5% over the previous close of Rs 1,882. December and January contracts traded at Rs 1,981 and Rs 2,022, respectively.

Near month urad desi was stronger on Monday and traded at Rs 3,715 per 100 kg, up Rs 174 or 4.9% over the previous Rs 3,541. December and January contracts traded at Rs 3,658 and Rs 3,604, respectively.

Wheat for November delivery traded at Rs 1,113.6, up Rs 22.6 or 2.07% from the previous Rs 1,091. December and January contracts traded at Rs 1,125 and Rs 1,141.4, respectively.

By 1800 hours on the MCX, near month crude oil traded at Rs 2,709, down Rs 45 or 1.63% from the previous close of Rs 2,754, December and January contracts traded at Rs 2,798 and Rs 2,859, respectively.

Near month gold was up by Rs 24 or 0.27% over the previous close of Rs 8,881 per 10 grams to trade at Rs 8,905. February contract last traded at Rs 9,080.