Firm Trading in Urad

Urad was traded firm at major centres due to millers buying support at current prices for immediate crushing requirement. Rains in Tamil Nadu and forecast for heavy rains in south India has also supported the prices as news crop likely to arrive in January month in Tamil Nadu. At ports, Forward outstanding trades for November delivery contracts are almost completed and fresh buying is witnessed by speculators and stockiest at lower rates anticipating short supply in future. Given the lack of urad supplies in the spot market, if the imports of stay orders are not cleared by customs and the rains continue in South India, Urad prices may see a good increase.