In the futures market, castorseed June contract opened weak at Rs 1268 and declined further sharply to close at Rs 1258, showing a steep fall of Rs 13.50 over the last close of Rs 1271.50.

In the edible section, groundnut oil improved to Rs 405 from Rs 404 while groundnut bold held steady at Rs 1970. Imported palm oil was pegged around the previous level of Rs 371.

In the non-edible section, linseed oil fell by Rs 5 to close at Rs 365 from Rs 370 and linseed bold held unchanged at Rs 1400. Bullion downBoth gold and silver fell further on the bullion market here today on lack of demand coupled with increased arrivals.

Standard gold started weak at Rs 4250 and dropped further on poor seasonaldemand and closed at Rs 4240, disclosing a fall of Rs 15 over the last close of Rs 4255. 22-carat gold was quoted lower at Rs 3925 from Rs 3935 and ten-tola gold bar of .999 purity declined by Rs 200 to Rs 49,700 from Rs 49,900. In the world market the yellow metal slid to $311.50/311.50 an ounce.

Ready silver of .999 fineness eased by Rs 15 to end at Rs 8725 as against the last close of Rs 8740 on weak overseas advices coupled with increased arrivals of raw silver. Prices of raw silver of .916 fineness at Rs 8600 and tenderable silver at Rs 8730 also finished weak from the previous close of Rs 8610 and Rs 8745 respectively. In the international market silver closed lower at $6.22/6.23 an ounce.

Sugar mixed

Sugar ruled narrowly mixed in restricted trading.

M-30 were placed at Rs 1500-1540 as against Rs 1495-1555 and S-30 at Rs 1475-1495 as against Rs 1475-1510 a quintal ex-godown. Ex-octroi checkpost, M-30 were on offer at Rs 1480-1505 and S-30 at Rs 1455-1470.

Imported sugar ruled steady.Pakistani were traded at Rs 1435-1437 and French at Rs 1400. Brazilian white sugar due in the first week of May was quoted at Rs 1360.

Cotton improves

A steady-to-slightly better trend prevailed on the cotton market.

V-797 price edged up further by Rs 100 a candy on reserved offerings and ruled at Rs 15,000-15,300 spot. Morbi wagad ruled at Rs 14,500 and Kala-ginned at Rs 13,500. Sanker continued to be placed in the range of Rs 19,000-21,500.

Punjab cotton held steady. J-34 saw-ginned good average ruled at Rs 1920-1990, cart-selected at Rs 2040-2110 and Bengal Deshi at Rs 1470-1525.Meanwhile, daily arrivals throughout the country were placed at around 20,000 bales. Of this, Gujarat accounted for 8000 bales and MP 3000. Total arrivals so far is estimated at 125-127 lakh bales. 15 lakh more bales are expected to come. The sales by the Maharashtra federation so far is placed at 7.40 lakh bales. The procurement this season is likely to reach 15 lakh bales, averred trade sources.

Yarnquiet

A very quiet condition continued on the yarn market.

Although there has been some improvement in power situation in Bhiwandi and Surat the fabrics market continued to be in a depressed condition. The weavers were losing Re 1 and more per metre in grey fabrics, averred trade circles. This has affected the demand for yarn. Polyester yarn prices continued to languish at the rockbottom level. Grey first quality of medium-sized units, 80dn rotoset ruled at Rs 95-96 and micro rotoset at Rs 104-105 a kg. 80dn weft and warp were placed at Rs 90-92 and at Rs 102-103 respectively. 80/1000dn ruled at Rs 120-125 and 80/1400dn at Rs 125-130.

In the case of 150dn, weft were on offer at Rs 76 and warp at Rs 87-88. Single and double rotoset were traded at Rs 82 and at Rs 84 respectively.Meanwhile. Reliance Industries Ltd (RIL) had cut the price of grey 80dn weft by Rs 3 at Rs 97, of 80dn rotoset by Rs 4 at Rs 102 and of 150dn weft by Rs 2 at Rs 80, with effect from 25th last.

Viscose filament yarn andnylons ruled static.

Grains dull

A dull-to-easy condition was in evidence on the grains market following limited activity.

Demand in wheat remained sluggish. This pushed down the quotation of milling wheat by Rs 10 and of superior types by Rs 20 to 25 a quintal. Milling wheat were on offer at Rs 600. Saurashtra Lokvan wheat were on offer at Rs 650-725 and SW at Rs 800-950. North Gujarat wheat found sellers at Rs 625-725. MP 147 were placed at Rs 650-850 and Sarbati at Rs 800-1150. Rice ruled steady. AP Masoori were placed at Rs 900-925 and cultured kolams at Rs 1050-1100.

Among pulses, green peas USA were placed at Rs 1600-1625 and Canadian at Rs 1171. Hungarian Rondo were out of stocks. White peas Canadian were on offer at Rs 925. Tur Myanmar 1998 and 1997 were traded at Rs 1550 and at Rs 1475 respectively.

Urad Myanmar ruled at Rs 1100-1125 and moong at Rs 1750-2000. Australian gram found sellers at Rs 1150-1175. Kabuli gram A-2 at Rs 2600, B-2 at Rs 2300-2400 and C-2 at Rs 1700-1800 werewell-held at the earlier high lelves on tight supply. Rajma chitra deshi and imported were transacted at Rs 2300 and at Rs 2200 respectively. Red rajma imported were placed at Rs 1900-1925.