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Commodity Picks: 11 December, 2017

Soybean prices at Indore are trading at Rs 3,087 a quintal

Prerana Desai 

Mustard Oil
Mustard Oil

Soybean prices at Indore are trading at Rs 3,087 a quintal. Domestic demand from processors has slowed due to waning demand for derivative products. Fresh buying is not seen forthcoming at higher levels for oil and meal. Favourable weather conditions for rabi crop is also weighing on prices.

So, for the week ahead, prices are expected to head towards Rs 3,040. Mustard seed prices at Jaipur are trading at Rs 4,077 a quintal. For the week ahead, prices should revive, as fresh buying is expected. Ongoing winter would keep demand high for oil and would support demand from processors. Also, production prospects for the coming season are bleak given lower acreage. Thus, prices are expected to trade in the range of Rs 4,125 to Rs 4,175.

Prerana Desai, V-P (research), Edelweiss Agri Services and Credit, Edelweiss Agri Value Chain

First Published: Sun, December 10 2017. 23:11 IST