Commodity picks: 19 October, 2020

Soybean at the benchmark Indore markets traded at Rs 4,145 per quintal; Chana price is expected to move up marginally from Rs 5,475 to Rs 5,525-5,550 per quintal in the Delhi market

Soybean

Soybean at the benchmark Indore markets traded at Rs 4,145 per quintal. For the week ahead, the price is expected to trade weak and head towards Rs 4,100-4,075 per quintal. There is weak demand from processors, besides attractive price could increase farm arrivals. Hence, the price is expected to trade with a downward bias for the week ahead.

Chana

Festive demand is expected to bring back buyers after the recent correction in the price. Delay in beginning of sowing in southern India will lend support. For the week ahead, the price is expected to move up marginally from Rs 5,475 to Rs 5,525-5,550 per quintal in the Delhi market.

Prerana Desai, Research head, Edelweiss Agri Services and Credit