Agri Commodities Preview: NCDEX Chana Futures Hit Highs Near Rs 3700 Mark

NCDEX Chana futures witnessed a sharp surge in last session on the expiry of the near month April series. NCDEX May futures, the benchmark contract, rose on a combination of bargain buying and rollover from the near month series. The May futures had fell to a one month low earlier in last week, approaching Rs 3600 per quintal level before edging up. The counter soared on Friday with the midday trade pushing it towards Rs 3700 per quintal. The contract closed around Rs 3670 per quintal, up nearly 1% on the day. The government procurement is supporting spot markets while a slight drop in arrivals in Delhi is also keeping the sentiments positive. Chana arrivals in Delhi were 30 trucks today as compared to around 40 trucks over last two weeks.