Commodities & Metals

Mustard: To gain today
Mustard prices also recovered late in the day due to some buying. The strength in soy oil due to strong palm oil prices this morning would give a good support to the counter. Stocks currently held by NAFED stood at seven million tonne. Yesterday, price of expeller oil in Mumbai softened, tracking bearish cues from CBOT and BMD. However, expeller oil prices across Kota and Jaipur spot markets firmed up marginally on steady demand and limited stocks. Prices are expected to remain firm today, taking cue from strong edible oil prices. June contract should target Rs419 per 20kg in the short term.

Copper in the process of correction
Yesterday COMEX Copper had closed as a Doji after Bullish Engulfing..