Wheat is trading at Rs 1,900 a quintal in the Delhi market. Prices are expected to trade lower towards Rs 1,800, given the approaching harvesting period in north India and arrival pressure in central and western regions. Strengthening of the rupee would also put pressure on prices.
Castor seed prices have surged almost 11 per cent in the past 10-12 trading sessions on lower supply and good demand for castor oil. The surge might attract liquidation by stockists and/or long positions, in futures market, leading to a correction. In the current week, prices in the futures segment are expected to move towards Rs 4,280 per quintal from the current Rs 4,391 at the Deesa market.