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RESEARCH

WEEKLY
AGRI REPORT
Spices Gain On Fresh Buying!

12th Jul 2010 to 17th Jul 2010

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 Weekly Report Agri
12th Jul to 17th Weekly
Jul 2010 Agri Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

JEERA REASONS FOR MOVEMENT

DEMAND IMPROVE MARGINALLY IN JEERA Reduced Stocks

Improved domestic demand will keep the prices firm in the near term. Good Domestic Demand
Significant demand from the overseas is expected to be placed if the
Jeera prices of Syria are quoting at higher rates. This will support prices
to strengthen in the short term (till July). Reduced stocks of Jeera at the Weekly Pivots
NCDEX warehouses are also supporting the prices. Jeera price quotes
SCRIPT JEERA
offered by Syria, Turkey and India in the international market will
R4 16575
determine the price trend in the medium term to long term (August
onwards. Further, prices will depend on the demand from the overseas R3 15513
and domestic buyers and stocks of Jeera with the major producers. R2 14451
Jeera prices in the intraday will trade bullish due to improved buying by R1 14061
the market participants. In the short term (till July), trend will depend P 13389
on Jeera price parity of various origins in international market. In the
S1 12378
medium to long term (August onwards) prices are likely to take cues
S2 12327
from stocks with major producing nation such as India, Syria and
S3 11265
Turkey.
S4 10203

Weekly Chart

As we mentioned last week above the level of 13230 Jeera, July contract did a high of 13539, Jeera remained bullish for the
whole previous week. For the next week resistance in Jeera, July contract is found at 13650 and support at 11980 and For
Jeera, August contract resistance is found at 14255 and support at 13060.
Strategy
Jeera is consolidating on charts and one should use the strategy of buying on lower levels. If in the coming week Jeera, august
contract sustains above the level of 13650 then we can expect a level of 14200, and if it sustains below 13060 we can see the
level of 12500.
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 Weekly Report Agri
12th Jul to 17th Weekly
Jul 2010 Agri Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

GUARSEED REASONS FOR MOVEMENT

GUAR LOOKS FIRM THESE DAYS Inadequate Rainfall

Reports of inadequate rainfall in the some of the major Guar growing Lower Stock
areas are providing support to the prices. According to the market
participants expected shift by the farmers to other crops such as pulses
and Bajra (due to increase in the MSP and high profits earned in the last Weekly Pivots
year) will provide support to Guar prices in medium term. Further,
SCRIPT GUARSEED
scarcity of Guar and Guar gum due to lower production of Guar in the
R4 3134
previous year will support prices in the medium term. Sowing of Guar
commences in July following the first showers of monsoon in June. R3 2889
Rajasthan contributes around 50% of the total production while R2 2644
Haryana has a share of 25% and remaining 25% comes from Gujarat, R1 2555
Punjab, Madhya Pradesh and Uttar Pradesh. Thus, in the long term P 2399
prices will takes cues from sowing progress and crop status in the
S1 2310
above major growing areas. Guar seed futures in the intraday are likely
S2 2154
to trade sideways to bullish on account of inadequate rainfall in the
S3 1909
major guar growing areas. Short term (till July), prices will depend on
the advancement of monsoon into the interior parts of India. In the S4 1664
medium to long term (August onwards), prices will depend on the
sowing progress of Guar and demand from the overseas buyers for
Guar gum.
Weekly Chart

Last week Guar seed remained bullish and even closed near to its high. For the next week resistance in Guar seed, July contract
is found at 2515 level and support at 2175 and for Guar seed, August contract resistance is found at 2580 and support at
2350.
Strategy
For next week traders should go for buying at lower levels strategy, if Guar seed, August contract sustains above the level of
2580 we can see the level of 2650, and below 2350 it can come till 2280.
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 Weekly Report Agri
12th JulWeekly
to 17th Commodity
Jul 2010 Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

SOYABEAN REASONS FOR MOVEMENT

SOYBEAN FALL ON BETTER RAIN FALL Good Rainfall

August Soybean futures ended in red due to monsoon rain in major Better Carry Over Stocks
parts of Madhya Pradesh amid better carry over stock of Soybean with
farmers are in favor of bears. As per market participants (farmers,
traders and stockists) Soybean sowing acreage picked-up rapidly and it Weekly Pivots
will caps the prices on higher side. CBOT August Soybean futures
SCRIPT SOYABEAN
ended higher at $ 9.67/bushels on Wednesday, up 27 cents/bushels as
R4 2172
compared to previous close. CBOT August Soybean meal futures
ended higher at $ 293.70/tonnes on Wednesday, up $7.00/tonnes as R3 2093
compared to previous close. As per US traders, Soybean futures surged R2 2014
sharply due to deterioration in the US Soybean crop in the USDA's R1 1984
latest Crop Progress report. In the intraday, Soybean prices are P 1935
expected to open higher due to firm overseas market on account of S1 1905
adverse weather for soybean in US, which is largest producer in the
S2 1856
world. However, monsoon rain in major producing states picked up in
S3 1777
sowing acreage amid favorable weather and better carry over stock
this year as compared to last year may keep selling pressure in medium S4 1698
term.

Weekly Chart

Last week Soybean, July contract did a false breakout below its important support of 1890 but did not sustained below it. For
the coming week Soybean, July contract has support at 1875 and resistance at 1975 and for Soybean, August contract
resistance is found at 2075 and support at 1880.
Strategy
Soybean is consolidating on charts and one should look for selling opportunities at higher levels, if Soybean, August contract
sustains below the level of 1880 we can see the level of 1810, and on the upper side if it sustains above the level of 2075 we
can see Soybean at 2150 level.
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 Weekly Report Agri
12th JulWeekly
to 17th Commodity
Jul 2010 Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

CHANA REASONS FOR MOVEMENT

CHANA MAY GAIN ON BOTTOM PHISHING Lower Level Buying

Llower price quotes of Chana in the domestic market may induce Domestic Demand
stockists to go for improved buying at lower levels. This will support
prices to strengthen in the coming weeks (till July). Prices in medium term
(till August), will trade sideways to bullish due to demand from the Weekly Pivots
domestic buyers ahead of festival season. However, rains in Maharashtra
in previous week will boost the acreage towards other pulses particularly SCRIPT CHANA
Urad and Tur. This will be unfriendly for the Chana price trend in long R4 2446
term (October onwards). Also, in the long term bumper crop of Chana in
R3 2390
the year 2009-2010 coupled with good carryover stocks will cap the
upside in prices. Production of Chana in 2009-2010 is estimated at 7.38 R2 2334
million tonnes as compared to 7.06 million tonnes in 2008-09. In the R1 2301
intraday Chana futures are likely to trade sideways to bullish due to P 2278
buying by the local stockists. Prices in the short term (till July), will depend
S1 2245
on the crop growth status in Canada, one of the major suppliers of yellow
peas and demand from the local stockists as prices are quoting at lower S2 2222
levels. In the long term (August onwards), prices may take cues from the S3 2166
prices of other pulses and demand from the domestic stockists S4 2110

Weekly Chart

Last week Chana moved in a very narrow range and was not able to sustain at higher levels. For the coming week Chana, July
contract has resistance at 2280 and support at 2145 and for Chana, August contract resistance is found at 2340 and support
at 2150.
Strategy
Overall trend of Chana is of consolidation and one should go for selling at higher levels strategy in it. For the coming week if
Chana, August contract sustains below 2145 level we can see it at 2070 and above 2280 we can expect the level of 2340.
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 Weekly Report Agri
12th JulWeekly
to 17th Commodity
Jul 2010 Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

Weekly Pivots

Script R3 R2 R1 PP S1 S2 S3

JEERA 14733.00 14451.67 14061.33 13389.67 12999.33 12327.67 11937.33

TURMERIC 16070.00 15806.00 15390.00 14710.00 14294.00 13614.00 13198.00

PEPPER 20476.00 20084.33 19561.67 18647.33 18124.67 17210.33 16687.67

SOYABEAN 2034.00 2014.33 1984.67 1935.33 1905.67 1856.33 1826.67

GUARGUM 6154.00 5989.67 5744.33 5334.67 5089.33 4679.67 4434.33

GUARSEED 2711.00 2644.00 2555.00 2399.00 2310.00 2154.00 2065.00

CHANA 2325.00 2334.33 2301.67 2278.33 2245.67 2222.33 2189.67

Script R3 R2 R1 PP S1 S2 S3

MUSTARD SEED 530.05 527.55 524.95 519.85 517.25 512.15 509.55

WHEAT 1249.60 1252.00 1241.60 1233.60 1223.20 1215.20 1204.80

GUR 1006.60 1001.93 994.07 981.53 973.67 961.13 953.27

CARDAMOM 1899.20 1901.73 1876.47 1853.73 1828.47 1805.73 1780.47

CRUDE PALM OIL 375.40 372.77 370.03 364.67 361.93 356.57 353.83

REFINED SOYA OIL 468.55 464.55 459.20 449.85 444.50 435.15 429.80

MENTHA OIL 729.40 726.13 715.77 702.13 691.77 678.13 667.77

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 Weekly Report Agri
12th JulWeekly
to 17th Commodity
Jul 2010 Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

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