Highlights: • Agri markets traded with high volatility but failed to take any clear direction as of now. • Good monsoon reports limited the upside while rising export and domestic demand amidst falling arrivals supported the prices at these lower levels after the recent fall. • All eyes are on IMD for further forecasts of sectoral distribution of rains. Any deficiencies in the North-West / Central regions of India could prove bullish for the markets. Also, as the rains reach the Andaman, any declarations by the IMD of Monsoon finally arriving could lead to start of the Monsoon session in the Indian sub-continent. Further price movements will be determined by its progress throughout the rest of India in coming weeks. • Reports of raising MSP (minimum support price) for crops too could lens some support to the prices in the short term.
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