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Cottonseed oil cake futures on India's National Commodity and Derivatives Exchange fell by Rs 12 to Rs 1,913 per quintal for May delivery, a decline of about 0.6%. The June contract dropped by a similar amount to Rs 1,963.
Weak spot markets and speculators trimming positions drove the decline.
Weak spot demand from cattle-feed makers, who are switching to cheaper alternatives, is pressuring Indian cottonseed meal prices. Continued substitution would keep futures under downward pressure.
business-standard.comPress Trust of IndiaMay 5, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
