Soybean is trading at Rs 3,845 per quintal at the benchmark Indore markets. Soybean Processors Association (SOPA) has released its first estimate for soybean production for 2020-21 at 12.2 million tonne, against 9.3 million tonne during the corresponding period last season. Hence, the price is expected to trade weak and head towards Rs 3,800 and then Rs 3,750 per quintal.
Wheat is trading at Rs 1,875 per quintal in Delhi. The prices is expected to trade lower towards Rs 1,850 per quintal following record stocks across the value chain and lethargic buying in the open market
Prerana Desai, Research head, Edelweiss Agri Services and Credit