Mumbai: Chana futures market continued to remain range-bound. Lacklustre demand coupled with regular inflow of yellow peas in the spot market is creating a downward pressure on chana. According to traders, decline in temperatures and increased soil moisture level in Maharashtra and Madhya Pradesh augur well for chana sowing, which will start shortly. High arrivals, surging import of pulses through PSU's and lack of demand for pulses had a bearish tone over the market. Chana October futures closed at Rs 2,286 a quintal on NCDEX. NCDEX jeera futures have traded down amid selling pressure. Though the international edible oil market remains firm, the domestic market was stable at current price levels. Soya was quoted at Rs 475 per 10 kg and palm oil was quoted at Rs. 452 per 10 kg.
Gold in the international markets remained almost unchanged on recovery of the dollar. However crude oil prices gained despite a surge in weekly inventories on worries of tropical storm at Gulf of Mexico. Indication of weakening US economy and concerns over dollar are crucial to the gold market. Euro was steady against the dollar at $1.4128.MCX October contract traded at Rs 9,344 per 10 gm.
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