 "Commodity Picks")
Cotton
Good rains have covered almost all cotton growing regions after a worrisome dry spell in Gujarat and Maharashtra. Area under cotton so far remains up by 67 per cent year-on-year. But, Edelweiss Agri Research believes the total area will be lower year-on-year but the faster pace of sowing suggests an early harvest. Coupled with record carry forward stock of cotton, the scenario is distinctly bearish. Benchmark variety Shankar 6 in Gujarat is at Rs 34,400 per candy (CAI, 29 mm, Guj), the prices could slide down toward Rs 33,500 to 33,000 in a week to ten days.
Maize
Maize prices in Gulabbagh market are trading at Rs 1,277 a quintal. Prices are expected to trade higher towards Rs 1,300 a quintal following steady buying by end users and lower stocks across the markets in North India. Unavailability of quality material in Bihar would support the prices of fine quality material.
Good rains have covered almost all cotton growing regions after a worrisome dry spell in Gujarat and Maharashtra. Area under cotton so far remains up by 67 per cent year-on-year. But, Edelweiss Agri Research believes the total area will be lower year-on-year but the faster pace of sowing suggests an early harvest. Coupled with record carry forward stock of cotton, the scenario is distinctly bearish. Benchmark variety Shankar 6 in Gujarat is at Rs 34,400 per candy (CAI, 29 mm, Guj), the prices could slide down toward Rs 33,500 to 33,000 in a week to ten days.
Maize
Maize prices in Gulabbagh market are trading at Rs 1,277 a quintal. Prices are expected to trade higher towards Rs 1,300 a quintal following steady buying by end users and lower stocks across the markets in North India. Unavailability of quality material in Bihar would support the prices of fine quality material.
Prerana Desai, Vice-president-research - agri value chain, Edelweiss Integrated Commodity Management
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