Soymeal is trading at Rs 31,600 per tonne at the benchmark Indore markets. For the week ahead, prices are expected to trade weak and head towards Rs 31,300 and then Rs 31,000 per tonne. Weak demand from feed makers amid decline in placements due to the outbreak of coronavirus in India is expected to keep the undertone weak in near term.
Wheat prices in the Indore market are trading at Rs 1,970 per quintal. Prices are expected to trade lower towards Rs 1,900 per quintal in a couple of weeks following approaching harvesting and ample stocks carried forward from last year.
Prerana Desai, Research Head - Edelweiss Agri Services and Credit