Commodity picks: 22 May, 2017

Soyabean

Soyabean is trading at Rs 2,986 a quintal in the Indore markets. For the week ahead, prices are expected to head towards Rs 3,040  a quintal. Positive crush margins could improve demand from processors and lend support to the prices.

 

Soya oil

Soya oil prices at the Indore spot markets are trading at Rs 632.5 per 10 kg. Prices could decline to Rs 620 per 10 kg. Waning demand at higher levels amid profit-booking after recent surge in prices could keep the sentiment weak. Traders are mostly covered for their immediate festive requirements, thus keeping the demand subdued. Further, global supplies are in abundance amid increase in selling pressure from South American nations.

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