Sugar prices are expected to remain firm in the intraday on improved demand ahead of summer season coupled with expectations of further exports. In the long term, price trend would depend on planting figures of 2012-13 crop and decision with respect to further exports. Also, it is necessary to keep close watch on Brazilian Sugar harvest.
Sugar futures witnessed mixed trades throughout the day and settled 0.03% lower on Thursday. However,
expectation of probable approval of further exports shortly amidst demand from the local stockists led Spot prices to settle marginally higher yesterday.
In case of Wheat, it traded with the negative node and settled -0.17% down at 1183 on higher supplies from record production for the second straight year.
Wheat trading range for the day is 1171-1195. For today's session market is looking to take support at 1177, a break below could see a test of 1171 and where as resistance is now likely to be seen at 1189, a move above could see prices testing 1195.
Potato prices to trade sideways in the intraday due to comfortable supplies in the domestic markets may cap sharp gains on the other hand demand in the domestic markets may support prices at lower levels. In the medium term, Potato prices may take cues from the final estimates from the horticulture department which may show some downward revision in the output owing to reports of late blight disease.
NCDEX Potato Futures witnessed a rangebound on Thursday. The initial part of the day witnessed an upside movement seen, but towards the end of the trading session, we witnessed some correction due to profit booking at higher levels.
Sugar futures witnessed mixed trades throughout the day and settled 0.03% lower on Thursday. However,
expectation of probable approval of further exports shortly amidst demand from the local stockists led Spot prices to settle marginally higher yesterday.
In case of Wheat, it traded with the negative node and settled -0.17% down at 1183 on higher supplies from record production for the second straight year.
Wheat trading range for the day is 1171-1195. For today's session market is looking to take support at 1177, a break below could see a test of 1171 and where as resistance is now likely to be seen at 1189, a move above could see prices testing 1195.
Potato prices to trade sideways in the intraday due to comfortable supplies in the domestic markets may cap sharp gains on the other hand demand in the domestic markets may support prices at lower levels. In the medium term, Potato prices may take cues from the final estimates from the horticulture department which may show some downward revision in the output owing to reports of late blight disease.
NCDEX Potato Futures witnessed a rangebound on Thursday. The initial part of the day witnessed an upside movement seen, but towards the end of the trading session, we witnessed some correction due to profit booking at higher levels.
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