Monday, August 8, 2011

NCDEX Agri Commodity Market Updates

Pepper futures may remain sideways. Jeera futures may trade with bearish bias. Cardamom futures may remain downside owing to ongoing harvesting season. Guar complex may continue to travel in bearish zone on account of profit booking from higher levels. Bearish crude oil prices may also bring the counter downside. Chana futures expected to remain sideways.

Domestic oilseeds may remain downside owing to weak global cues and heavy downfall in crude oil prices. Soybean futures trading down by nearly 1%, may add bearish sentiments to the domestic prices. CPO futures trading half a percent downside may pull down prices on the national bourse. Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives are expected to continue the bearish momentum into this week amid a gloomy global economic scenario.

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