Agri Commodities Surge On Short Covering

Short covering was seen in seen most of the agri commodities today after witnessing heavy selling from last couple of days. Most of the commodities such as Chana and Jeera have added more than 1 percent in todays trading.

The NCDEX Chana August futures added 1.02 percent today to close at Rs 4239 per quintal on the account of renewed buying interest by traders and millers in local mandies. Moreover, chana futures have maintained the 4200 level strongly from last few trading sessions. The daily arrivals were also reduced to 15 motors today.

Similarly, jeera and turmeric were also the leading gainers for today as both commodities added more than 2 percent today on the account of fresh buying by exporters against limited stocks in local mandies. The NCDEX August futures settled at Rs 20470 per quintal. On the other side, wheat futures have also added more than 1 percent today in the wake of limited sowing coarse cereals and strong global wheat market.

However, some selling was seen in soya oil as prices were settled in negative territory after witnessing some gains in previous trading day. The NCDEX August Refined soya oil closed at Rs 739.85 per kg, down 0.35 percent from last day.