Commodity picks: 6 July, 2020

Soybean

Soybean is expected to trade with a downward bias at spot markets. Burden of huge stocks, weak demand from processors and prospects of record soybean acreage for the new season are expected to keep prices under pressure. Soybean is trading at Rs 3,717 per quintal at the benchmark Indore market, and for the week ahead, prices are expected to head towards Rs 3,675 per quintal.

Cotton seed oil cake

Cotton seed oil cake is trading at Rs 2,063 per quintal at the benchmark Akola market. During the week ahead, prices are expected to trade weak and head towards Rs 2,010 per quintal. Weak demand and ample of stocks to keep prices under pressure.

Prerana Desai, Research Head – Edelweiss Agri Services and Credit