Guar seed prices on Wednesday rose Rs 40 to Rs 5,594 per quintal in futures trade, as speculators increased their positions amid a firm trend in the spot market.

On the National Commodity and Derivatives Exchange (NCDEX), guar seed contracts for January delivery gained Rs 40, or 0.72 per cent, to trade at Rs 5,594 per quintal, with open interest at 52,700 lots.

Market participants said the uptick in prices was driven by higher speculative buying, strong spot market sentiment, and tight supplies from major producing regions, which together supported the upward movement in guar seed futures.