The agri commodity futures continued their downward trend on Saturday. Though the fall was less in intensity compared with the Friday's crash, the market would open in the same line this week. | |
| The inflation going above 5 per cent and the continued selling pressure are likely to keep the market weak in the short-term. |
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| In the pulses segment, chana on Saturday continued its downward trend and closed at Rs 2,863 a quintal, down 1.6 per cent. It is despite the fact that new market crop estimates at 4.5 million tonnes is much lower than the earlier projected figures. |
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Spices sector showed mixed trend. Turmeric and chilli futures continued to be in the red whereas pepper and jeera moved up and closed on a positive note due to good demand.
LOSING STEAM
The weekend futures prices | | Commodity | Closing price in Rs/quintal | | Friday | Saturday | Change (%) | | Barley | 1,074 | 1061 | -1.2 | | Chana | 2,909 | 2863 | -1.6 | | Chilli | 4,551 | 4440 | -2.5 | | Guarseed | 2,023 | 2012 | -0.5 | | Jeera | 9,467 | 9657 | 2.0 | | Maize | 835 | 833 | -0.2 | | Pepper | 15128 | 15375 | 1.6 | | Sugar M | 1542 | 1559 | 1.1 | | Soybean | 2227 | 2143 | -3.8 | | Ref Soyoil* | 685 | 666 | -2.8 | | Turmeric | 3343 | 3323 | -0.6 | * per 10 kg
Source : NCDEX |
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| In the grain futures, maize and barley slipped by 1.2 per cent and 0.2 per cent respectively. Soybean hit another circuit on Saturday to close at Rs 2,143 a quintal, down 3.8 per cent. |
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| Refined soy oil also weakened and closed at Rs 666 per 10 kg. Sugar M also traded firm to close at Rs 1,559 a quintal, up 1.1 per cent. |
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