Commodity picks

Chana

Harvesting of the new crop, coupled with imports, has improved the domestic supply considerably. Weather premiums are also likely to ease, as temperatures drop across the growing regions. With an improvement in domestic supplies, lower demand is likely to weigh on the prices. Sell chana on pullbacks to Rs 4,700 a quintal for a target of Rs 4,500/4,400 a quintal.

Cotton cake

Cotton cake has recently seen volatile trading sessions. Cake prices in the Akola market is at Rs 2,030 a quintal. The demand is unimpressive and arrivals of kapas (cotton) are expected to improve. Cotton cake is expected to move lower in coming days.

Prerana Desai,
Vice-president, research, agri services & credit, Edelweiss Integrated Commodity Management