Kota: Soybean Trading Higher in Physical Market

At Kota market , Soybean Plant is trading strong at Rs. 3200-3225 per quintal, up by 0.78 per cent from previous trading day. Soybean Mandi is offered firm at Rs. 3100-3150 per quintal, up by 3.28 per cent as compared to previous day. Estimated market supply was at 15000 Bags, up by 2000 Bags as compared to previous day. Soybean in Kota Market (Prices in Rs. per quintal) Market Commodity/Variety Price Change Absolute Kota Soybean Plant 3200-3225 +25 Kota Soybean Mandi 3100-3150 +100 nnbsp; Note: The above mentioned prices are in Rs. per quintal and arrivals are in Bags

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India Jul CPI seen at 4%, RBI rate cut likely in Sep: BofAML

 

: India's retail inflation will likely fall to 4% in July, sharply lower than the Reserve Bank of India's target of 6% while industrial output will continue to remain weak, paving the way for a repo rate cut in September, Bank of America Merrill Lynch said Friday.

  A better than expected monsoon, lower oil prices have resulted in easing consumer, wholesale and agricultural inflation with the central bank likely to cut its lending rate by 25 basis points next month, Bank of America said.

   India's retail inflation quickened to 5.4% in June forcing the Reserve Bank to pause its rate cut cycle.

  Agflation is expected to be well under control while wholesale deflation is expected to further worsen to 2.9%, Bank of America estimates.

   India's industrial output is expected to expand 3.5% in June higher than 2.7% in May largely on base effects underscoring a slow recovery, the bank estimates.

  BoFAML believes that further rate cuts by the Reserve Bank of India is contingent upon lending rate cut by banks, which will also aid in boosting the anemic growth in industrial output, especially since credit growth has slipped below 10% owing to slower expansion in reserve money.

  "We think time is running out for further lending rate cuts this fiscal," said Indranil Sen Gupta. "With capital flows drying up it is difficult for the RBI to pump in sufficient reserve money to soften lending rates."

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Steady Sentiment Witnessed in Warangal Red Chilli Physical Market

At Warangal market , Red Chilli Teja began at Rs. 9400-10000 per quintal, unchanged as compared to previous close. Arrivals were reported at 3000 bags, down by 1000 bags from previous trading day. Red Chilli Wonder Hot started at Rs. 9800-10500 per quintal, steady against previous close. Red Chilli 341 at Warangal market started the day at Rs. 9200-9800 per quintal, unchanged as compared to previous close. Red Chilli Denvor Delux at Warangal market opened at Rs. 9200-9800 per quintal, steady as against previous close. Red Chilli Fatki at Warangal market started at Rs. 6200-7400 per quintal, unchanged as compared to previous close. Red Chilli in Warangal Market (Prices in Rs. per quintal) Market Commodity/Variety Price Change Absolute Warangal Red Chilli Teja 9400-10000 0 Warangal Red Chilli Wonder Hot 9800-10500 0 Warangal Red Chilli 341 9200-9800 0 Warangal Red Chilli Denvor Delux 9200-9800 0 Warangal Red Chilli Fatki 6200-7400 0 nnbsp;