Commodity Picks: 2 April 2018

Soybean
 
Soybean spot prices at Indore are trading at Rs 3,779 per quintal. For the week ahead prices are expected to surge to 3,850 per quintal. Firm global cues due to expectation of low acreage in US would help revival in soy meal export demand. Further supporting prices are low arrivals of soybean due to ongoing harvest of Rabi crops.
 
Chana
 

Chana spot prices at Bikaner are trading at Rs 3,750 per quintal. For the week ahead prices are expected to head towards Rs 3,850 per quintal. Demand from processors is strong as prices are trading near multi year lows. Further supporting prices are expected commencement of government procurement at MSP in Madhya Pradesh.