Chana slipped today

Chana slipped today amid continued rainfall over central India. The NCDEX Chana futures are failing to hold onto modest gains as hopes of an elevated output in coming rabi season are capping the upside momentum. The benchmark NCDEX Chana futures for October hit one week high above Rs 4058 per quintal before easing. The counter had tested contract low of Rs 3965 per quintal earlier in the week. The contract currently trades at Rs 4034 per quintal, down 0.27% on the day. Under the influence of a low-pressure and associated cyclonic circulation, widespread rains have continued in central India, which is likely to keep the overall climatic conditions supportive for early sowing in rabi season. The current supplies are steady in wholesale markets