Agri Commodity Reports for the Week(27th September - 1st October '10)

8/8/2019 Agri Commodity Reports for the Week(27th September - 1st October '10)

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Spices Recover On Improved Buying!

WEEKLYAGRI REPORT

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R ES EA R C H

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27th Sep 2010 to 02nd Oct 2010
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Weekly Agri Report1st March to 6th Mar 2010

R ES EA R C HR ES EA R C H

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Weekly Chart

Jeera is in a consolidation phase and one should use the strategy of selling on higher levels. If in the coming week Jeerasustains below the level of 13100 then we can expect a level of 12650, and if it sustains above 14420 we can see the level of14700.

Strategy

Last week Jeera was in consolidation and was able to sustain at higher levels and closed near to its high. For the next weekresistance in Jeera is found at 14420 and support at 13100.

JEERA RECOVERS ON IMPROVED BUYING ACTIVITY, BETTER

OFFTAKES

Improved buying by the market participants amidst better off takes at

the domestic led prices to recover yesterday from the lows yesterday.

Revival of demand from the overseas and domestic buyers will support

prices to strengthen in the short term (till September). Also, prices in

the international market of Syrian origin are being offered at higher

rates than Indian origin. This will help prices to find support and

strengthen in the medium term (September mid onwards). Also, there

are lower stocks in the domestic market t ill the fresh arrivals expected inthe month of March which will also add to the gains. In the medium

term to long term (October onwards), Jeera prices will depend on the

demand from the overseas and domestic buyers and stocks of Jeera

with the major producers. Spread between October and November

contract is at Rs.6 as compared to Rs.30 the previous day.

Weekly Pivots

R4 15950

14440R2

P

S2

13685

12931

S4 11420

SCRIPT JEERA

15190R3

14145R1

S1 13391

S3 12175

Improved Buying

Lower Stocks Till The Fresh Arrivals

REASONS FOR MOVEMENTJEERA

Weekly Report Agri27th Sep to 02nd Oct 2010


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Weekly Agri Report1st March to 6th Mar 2010



Weekly Chart

For next week traders should go for buying on lower level strategy, if Guar seed sustains below the level of 1970 we can see thelevel of 1920, and above 2070 it can come up till 2130.

Strategy

Last week Guar seed did break its important support of 1960 but was not able to sustain below it and we saw some goodbuying coming at lower levels in the last two days of the week. For the next week resistance in Guar seed is found at 2160 and

support at 1950.

GUAR CLOSES HIGHER ON MIXED OUTPUT VIEW

Better crop prospects and lackluster demand kept Spot as well as

futures prices of Guar mixed on Saturday. Guar seed output is likely to

rise this year due to increased acreage and a favorable monsoon season

in the major producing states of Rajasthan, Gujarat, Haryana and

Punjab. Export demand for Guar gum has declined. Also, lower

domestic demand of Churi and Korma would provide support to the

bears. In the medium to long term (October onwards) prices will take

cues from the stocks of Guar with the stockists, demand from the

overseas buyers and the pace of arrivals of Guar crop. Spread between

October and November contract is Rs.49 per qtl compared to Rs. 19 per

qtl. Guar futures in the intraday may witness some short covering;

however, prices may decline in the coming days on better crop

prospects. In the Short term (till September), prices will depend on the

demand from the overseas buyers which is currently at a slow pace. In

the medium (October onwards) prices will depend on the pace of

arrivals of early sown Guar crop and stocks of Guar with the stockists.

Weekly Pivots

R4 2305

2121R2

P

S2

2029

1937

S4 1753

SCRIPT GUARSEED

2213R3

2087R1

S1 1995

S3 1845

Better Crop Prospects

Lackluster Demand

REASONS FOR MOVEMENTGUARSEED



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Weekly Commodity Report1st March to 6th Mar 2010



Weekly Chart

Soybean is in a consolidation phase on charts and one should look for selling opportunities at higher levels, if Soybean sustainsbelow the level of 1960 we can see the level of 1880, and on the up side if it sustains above the level of 2110 we can seeSoybean at 2145 level.

Strategy

Last week Soybean took important support of 1955 level and bounced back, afterwards we saw some good buying coming at

lower levels. For the next week Soybean has resistance at 2110 and support at 1960.

SOYBEAN CLOSES HIGHER ON TRACKING GLOBAL CUES

NCDEX October Soybean futures closed slightly higher on account of

fresh arrivals in major producing states like Madhya Pradesh and

Maharashtra. Fresh arrivals are increasing day by day in Madhya

Pradesh, which is major producing state of soybean are in favor of

bears. Spread between NCDEX October and November contract is Rs

22.50 against previous day of Rs 15.50 per 100 Kg. CBOT November

soybean futures ended higher at $ 10.93/bushels on Thursday, up 5.00

cents/bushel as compared to previous close. CBOT December Soybeanmeal futures ended lower at $ 309.50/ton on Thursday, down

$0.90/tonne as compared to previous close.

Weekly Pivots

R4 2338

2154R2

P

S2

2062

1970

S4 1786

SCRIPT SOYABEAN

2246R3

2116R1

S1 2024

S3 1878

REASONS FOR MOVEMENT

Fresh Arrivals

Good Rainfall

SOYABEAN



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Weekly Chart

Overall trend of Chana is of consolidation and one should go for selling at higher levels strategy in it . For the coming week ifChana sustains below 2060 level we can see it at 2020 and above 2296 we can expect the level of 2335.

Strategy

Last week Chana bounced back from its important support of 2060 level and made a weekly close near to its high. For the

coming week Chana has resistance at 2296 and support at 2140.

CHANA UP ON FRESH DEMAND AT LOWER LEVELS

The Chana futures are likely to trade positive during early hours of the

day on extended short covering, however, trend will remain weak.

Investors and traders are likely to cover their short positions anticipating

market is in oversold zone. Futures markets are witnessing a technical

recovery; however, fundamental factors are still bearish for the prices.

Lackluster demand for Chana in the spot market f rom dal millers is likely

to have a bearish impact on the market. Ease in prices of other pulses due

to fresh arrivals is having a cooling effect on Chana market also. We are

anticipating a rise in acreage under Chana cultivation on favourableweather condition. In the short term, Chana prices may trade firm on

expectations of better demand ahead of festive seasons. However,

October onwards, Chana futures are expected to remain under pressure

on the reports of higher sowing acreage under Kharif Pulses. In the long

term (November onwards) Chana prices may take cues from the prices of

other pulses and sowing progress of Chana in the major growing areas.

Weekly Pivots

R4 2566

2342R2

P

S2

2230

2118

S4 1894

SCRIPT CHANA

2454R3

2297R1

S1 2185

S3 2006

Lower Level Buying

Rise In Acreage

REASONS FOR MOVEMENTCHANA



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Weekly Pivots

Script R3 R2 R1 PP S1 S2 S3

JEERA 15193.67 14439.67 14145.33 13685.67 13391.33 12931.67 12177.67

TURMERIC 17099.33 15227.33 14580.67 13355.33 12708.67 11483.33 9611.33

PEPPER 22662.67 21164.67 20357.33 19666.67 18859.33 18168.67 16670.67

SOYABEAN 2246.83 2154.83 2116.67 2062.83 2024.67 1970.83 1878.83

GUARGUM 5295.33 5031.33 4891.67 4767.33 4627.67 4503.33 4239.33

GUARSEED 2213.67 2121.67 2087.33 2029.67 1995.33 1881.00 1814.00

CHANA 2454.00 2342.00 2297.00 2230.00 2185.00 2118.00 2006.00

Script R3 R2 R1 PP S1 S2 S3

MUSTARD SEED 588.17 569.17 562.83 550.17 543.83 531.17 512.17

KAPAS 738.70 722.80 714.70 706.90 698.80 691.00 675.10

GUR 981.60 959.40 948.20 937.20 926.00 915.00 892.80

CARDAMOM 1186.27 1125.27 1093.53 1064.27 1032.53 1003.27 942.27

CRUDE PALM OIL 439.93 431.09 427.05 422.25 418.21 413.41 404.57

REFINED SOYA OIL 534.80 515.60 508.80 496.40 489.60 477.20 458.00

MENTHA OIL 915.17 876.87 860.43 838.57 822.13 800.27 761.97



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Agri Commodity Reports for the Week(27th September - 1st October '10)

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Transcript of Agri Commodity Reports for the Week(27th September - 1st October '10)