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Commodity Picks: 3 August, 2020

Weak demand and favourable weather across the major producing region is expected to keep prices under pressure

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Commodity picks | wheat stocks | Cotton seed

Prerana Desai 

Farmers use a combined harvester in a wheat field. Photo: PTI
Prices are expected to trade lower towards Rs 1,850 per quintal following record supplies in the domestic market and sluggish buying.

oil cake

oil cake is trading at Rs 1,935 per quintal at the benchmark Akola market. For the week ahead, prices are expected to trade weak and head towards Rs 1,900 and then to Rs 1,885 per quintal. Weak demand and favourable weather across the major producing region is expected to keep prices under pressure.

Wheat

Wheat is trading at Rs 1,878 per quintal in Delhi. Prices are expected to trade lower towards Rs 1,850 per quintal following record supplies in the domestic market and sluggish buying. Liquidation of stocks by the government at cheaper rate is also putting pressure on the prices.

Prerana Desai, Research head, Edelweiss Agri Services and Credit

First Published: Sun, August 02 2020. 23:55 IST
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