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Agricultural commodities are seen under pressure in commodities futures market on Wednesday, taking cues from global markets and trends in the spot markets.
Oilseeds and edible oils are likely to drop, weighed by developments on the global soyabean markets and Malaysia palm oil market that dropped to two-year low earlier this week. Grains are seen dropping on better than anticipated yields of US wheat and soyabean, besides their arrival in the country.
Gold prices could look to currency for movements, though they could be lower at the opening going by trends in Singapore. Spot gold prices were near 11-month high in Singapore on Wednesday morning, although the drop was marginal to $1,773.10 an ounce.
Metals have little scope to progress due to chances of weak economic growth. Factory data from China and Japan that showed tardy growth earlier this week will continue to cast their shadow.
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