Guarseed futures continued upward march for the third straight day and prices moved up further 1.69 per cent to hit a new contract high at the National Commodity and Derivatives Exchange on Wednesday as traders enlarged positions triggered by firm industrial demand. Marketmen said brisk buying by guargum and cattle-feed makers in spot markets influenced guarseed prices at the futures market here. Fall in production and reports of a pick up in export demand also supported the upside in the commodity prices,they added. At the NCDEX platform,guarseed for far April month contract delivery advanced by 1.69 per cent at Rs 2,890 per quintal with an open interest of 220 lots. The current November month contract gained 0.87 per cent at Rs 2,674 per quintal with an open interest of 7,650 lots. Meanwhile,most active December contract hardened by 0.78 per cent at Rs 2,710 per quintal and open interest showed in 8,858 lots.
