Commodity picks: 16 November, 2020

Soybean is trading at Rs 4,460 per quintal at the benchmark Indore markets; Seed prices at Deesa market are expected to trade towards Rs 4,570 - Rs 4,550 per quintal

Soybean

Soybean is trading at Rs 4,460 per quintal at the benchmark Indore markets. During the week ahead, prices are expected to extend the firm tone and head towards Rs 4,480 and Rs 4,500 per quintal. Positive crush margins and declining farm arrivals are expected to keep the undertone bullish for soybean. Further supporting prices are bullish cues from global markets.

Castor seed

Seed prices at Deesa market are expected to trade towards Rs 4,570 - Rs 4,550 per quintal from current levels of Rs 4,650 per quintal on the back of subdued demand at higher price levels. Lower export demand ahead of winter season will also weigh on castor seed prices.

Prerana Desai, Research head, Edelweiss Agri Services and Credit