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Cotton futures (Dec) is expected to consolidate in the range of 21650-21880. Cotton prices were under some pressure in central and south India as most buyerswere resilient to make large buying at the higher level. Demand in cotton is not gaining strength even on lower than expected supply. Enquires in cotton will increase only in case prices corrected from here on as ginning to spinning mills are working in disparity due to slow demand in cotton yarn and garments. Guar seed futures (Jan) is expected to trade sideways in the range of 4335-4390 levels, while guar gum (Jan) may consolidate in the range of 8600-8860 levels & remain steady. Demand in Guarseed is said to be limited from stockists, however some major crushers are active and covering positions after recovery in crude oil, which has raised some prospects of good export demand ahead. Chana futures (Jan) may
trade with a downside bias in the range of 4570-4630 levels. Chana continued to trade lower at major spot markets in the country owing to slackened buying from mills amid dull demand and sale counters in Chana dal and besan. Nafed activeness in liquidating procured stock at existing prices also pressurised sentiments. Chana extended losses at major spot markets in the country due to slackened buying from mills amid dull demand and sale counters in Chana dal and besan. Nafed activeness in liquidating procured stock at existing prices also pressurised sentiments.
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