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Commodity picks: 1 May, 2017

For the week ahead, prices are expected to head towards Rs 3,830

Prerana Desai 

Mustard seed

Mustard seed prices tested fresh lows for the season at Rs 3,773 per quintal at Jaipur spot Prices fell mainly due to weak demand from stockist. Going forward, prices are expected to seek some support, especially from processors due to positive margins. Dwindling arrivals at the spot could also lend support to the prices. For the week ahead, prices are expected to head towards Rs 3,830.

Wheat

Wheat prices in Indore are trading at Rs 1,611 per quintal. Prices are expected to trade higher towards Rs 1,620 in the week ahead following resumption in buying at lower levels and steady procurement by the government at minimum support price (MSP) of Rs 1,625. However, record production and higher port stocks would limit the price gains.

Prerana Desai,  VP-Research -Edelweiss Agri Services and Credit, Edelweiss Agri Value Chain

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