Agri-Commodity Futures Decline On Hopes Of A Good Kharif Crop

Prices of agri commodities like soybeans, castor, coriander, turmeric, jeera, and cotton have fallen in the past one week compared to the previous one with the approach of monsoon raising hope for a better crop this kharif. With the weather office said that the monsoon will pick up its progress by end of June and July, we are seeing a correction in chana, soybean, cotton, jeera, turmeric, and guar seed prices. We can expect prices to further fall with timely and equal distribution of the monsoon rains.
While approaching monsoon is one of the major reasons for the price drop, other factors like the increase of crop area of soybean has lent to the drop in prices. Moreover, weak soya meal exports in May has also put pressure on soybean future prices.

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