Chana Outlook - Chana futures are expected to trade on a negative note extending yesterday’s losses. Good sowing across the country coupled with favorable climatic conditions pressurize prices. Higher arrivals in the physical markets as well as increasing imports may also add to the downside pressure. However, concerns over lower sowing in Madhya Pradesh as well as wedding demand may support prices. Prices are trading near the MSP levels thus; no major downside is seen from here. Sowing of Chana has picked up across the major growing states and weather conditions and planting progress thereon are the crucial factors to be watch for here onwards. Although currently acreage is expected to stay at last year’s level or may even decline considering lower returns and unfavorable soil conditions, it will be too early to predict the same. Soybean Outlook - Soybean futures may trade on a mixed note. Expectations of increasing arrivals and improving weather conditions may pressurize prices. However, demand from the oil industry and crop damage concerns may support prices at lower levels. Prices will start to fall as the low moisture, good quality crop enters the markets. prices may also take cues from the movement in Indian Rupee. Rape/mustard Seed Outlook - Mustard futures may trade on a mixed note. Higher sowing of mustard may keep prices under downside pressure. However, demand from the oil mills may tend support to the prices at lower levels. Refined Soy Oil Outlook - Soy oil futures may trade on a mixed note. Weak internationals markets as well as expectations of strong Rupee may pressurize prices. However, wedding season demand may support prices. Prices may also take cues from movement in soybean. Crude Palm Oil Outlook - Palm oil futures may trade on a mixed note today. Weak domestic as well as international markets as well as expectations of a a strong Rupee may pressurize prices. However, wedding season demand may support prices at lower levels Jeera Outlook - Jeera futures may trade on a mixed to positive note today on account of domestic as well as overseas demand. However, no sharp gains are expected as the ongoing sowing operations may pressurize prices at higher levels. Turmeric Outlook - Turmeric futures are expected to trade on a positive to bullish note today on the back of robust domestic demand. However, huge carryover stocks as well as favorable weather conditions may cap sharp gains. Profit booking may also be seen at higher levels. Sugar Outlook - Sugar price are expected to continue to decline as ample supplies and thus lack of intervention by the government may keep price under pressure. However, delay in start to crush may restrict further downside in the domestic sugar prices. suspension of operations by most private mills in UP may lead to supply tightness in the coming days. Kapas Outlook - Cotton prices are expected to trade lower pressurized by higher supplies and a strong Rupee. However, demand is expected to pick up which may offset arrival pressure of the new crop, thus supporting prices at lower levels.
Posted on: Wed, 20 Nov 2013 04:57:25 +0000
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