Turmeric prices on the spot markets have been trapped in a bearish zone and not recovering due to lack of sufficient demand. Adding to the woes would be the inflows of new crop in Nizamabad from December-end which can pressurise turmeric futures (Apr) face resistance near Rs 7000.
Jeera futures (Jan) is expected to plunge further towards Rs 18250-18100
Soybean futures (Jan) is expected to consolidate taking support near Rs 3355, while face resistance near Rs 3390 levels.
Spot soybean (as per quality) gained by Rs 50-100 at Rs 3,200-3,350 per 100kg at the benchmark Indore market of Madhya Pradesh. Similarly, plant delivery soybean in Indore was firm by Rs 25 at Rs 3,450 per 100kg. Mustard futures (Jan) is expected to break the support near Rs 3,980 and descend towards Rs 3,960-3,940 levels.