Commodity Picks: 3 August, 2020

Prices are expected to trade lower towards Rs 1,850 per quintal following record supplies in the domestic market and sluggish buying.
Cotton seed oil cake

Cotton seed 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.



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