Chana Outlook - Chana futures may recover after yesterday’s correction on concerns over lower sowing in Madhya Pradesh as well as wedding demand. However, good sowing across India coupled with favorable climatic conditions may cap sharp gains. Higher arrivals in the physical markets as well as increasing imports may also pressurize prices at higher levels. 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. Rape/mustard Seed Outlook - Mustard futures may trade on a mixed note extending yesterday’s gains supported by demand from the oil mills. However, higher sowing of mustard may pressurize prices. Refined Soy Oil Outlook - Soy oil futures may trade on a mixed note. Wedding season demand may support prices. However, expectations of appreciation in the Rupee may cap gains and pressurize prices at higher levels. 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 markets as well as expectations of a strengthening Rupee may pressurize prices. However, positive international markets as well as wedding season demand may support prices at lower levels. Jeera Outlook - Jeera futures may trade on a positive note today on account of domestic as well as overseas demand. However, no sharp gains are expected as higher sowing may pressurize prices at higher levels. Turmeric Outlook - Turmeric futures are expected to continue to trade higher on the back of robust domestic demand. However, huge carryover stocks as well as favorable weather conditions may cap sharp gains. Sugar Outlook - Sugar price are expected to remain bearish 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. An intervention by the government with respect to exports is must for the bearish trend to reverse. 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: Tue, 19 Nov 2013 04:28:07 +0000
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