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RESEARCH

WEEKLY
AGRI REPORT
Spices Remained Higher On Fresh Buying !

19th Jul 2010 to 24th Jul 2010

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 Weekly Report Agri
19th Jul to 24th Weekly
Jul 2010 Agri Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

JEERA REASONS FOR MOVEMENT

JEERA REMAIN BULLISH ON STRONG BUYING Good Demand

Demand from the overseas as well domestic buyers is providing Bad Weather
support to the prices. Increase in the price quotes of Syrian Jeera and
reports of defaults in their overseas shipments led prices to surge in the
domestic market. Anticipation that the overseas orders may be Weekly Pivots
improved due to defaults by Syria will keep the prices firm. Damage
SCRIPT JEERA
caused by the rains in Turkey to the Jeera will add to the gains in the
R4 16485
short term (till July). In the medium term to long term (August onwards)
Jeera price will depend on the demand from the overseas and domestic R3 15716
buyers and stocks of Jeera with the major producers. Jeera prices in the R2 14947
intraday will trade sideways to up on account of demand from overseas R1 14656
buyers. In the short term (till July), trend will depend on jeera price P 14178
parity of various origins in international market. In the medium to long
S1 13887
term (August onwards) prices are likely to take cues from stocks with
S2 13409
major producing nation such as India, Syria and Turkey.
S3 12640
S4 11871

Weekly Chart

As we mentioned last week above the level of 13650 Jeera did a high of 14469, Jeera remained bullish for the whole previous
week. For the next week resistance in Jeera is found at 14780 and support at 13900.

Strategy
Jeera is in bullish trend and one should use the strategy of buying on lower levels. If in the coming week Jeera sustains above
the level of 14800 then we can expect a level of 15500, and if it sustains below 13900 we can see the level of 13580.

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 Weekly Report Agri
19th Jul to 24th Weekly
Jul 2010 Agri Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

GUARSEED REASONS FOR MOVEMENT

GUAR IS GOOD FOR LONG TERM INVESTMENT Inadequate Rainfall

Rains in the major Guar growing areas particularly Hanumangarh and Lower Stock
Ganganagar are inadequate. If, the rains are deficient or are not revived
in next 10-15 days in the above regions, farmers will not sow Guar.
Thereby a likely decline in the production is possible. This will provide Weekly Pivots
support to the prices in the medium term. Further, according to the
SCRIPT GUARSEED
market participants it is expected that farmers could shift to other crops
R4 2915
such as pulses and bajra (due to increase in the MSP and high profits
earned in the last year) will provide support to Guar prices in medium R3 2780
term. Also, scarcity of Guar and Guar gum due to lower production of R2 2647
Guar in the previous year will support prices in the medium term. Guar R1 2590
seed futures in the intraday are expected to trade firm on account of P 2513
improved buying by the local stockists. Short term (till July), prices will
S1 2456
depend on the monsoon rains in the major Guar growing areas and
S2 2378
demand from the overseas buyers. In the medium to long term (August
S3 2245
onwards), prices will depend on the sowing progress of Guar and
demand from the overseas buyers for Guar gum. S4 2110

Weekly Chart

Last week Guar seed remained bullish for the entire week and was sustaining at higher levels. It took the resistance of the
important level of 2580. For the next week resistance in Guar seed is found at 2680 and support at 2400.

Strategy
For next week traders should go for buying at lower levels strategy, if Guar seed sustains above the level of 2580 we can see
the level of 2650, and below 2400 it can come till 2350.
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 Weekly Report Agri
19th JulWeekly
to 24th Commodity
Jul 2010 Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

SOYABEAN REASONS FOR MOVEMENT

SOYBEAN MANAGE TO REMAIN BULLISH Lack Of Rainfall

August Soybean futures rallied on second consecutive day, tracking Weakness In Us Dollar
global cues and finally it managed to gain about 1% as compared to
previous trading session's close. Soybean futures at Chicago Board of
Trade surged due to hot and dry weather along with rally in other Weekly Pivots
grains. Weakness in US dollar also added bullish tone. Market
SCRIPT SOYABEAN
participants were slightly bullish in anticipation of lower sowing
R4 2252
acreage and output this year as compared to last year due to late and
inadequate rainfall in major producing states like Madhya Pradesh. In R3 2164
the short term perspective, soybean prices are expected to trade higher R2 2076
on sharp rally in overseas market. However, for the long term, R1 2045
monsoon rains in major producing states helped in the sowing acreage P 1988
and better carry over stock this year as compared to last year may cap S1 1957
higher prices in medium term.
S2 1900
S3 1812
S4 1724

Weekly Chart

Last week Soybean was in a bullish trend and it even closed near to its high. For the coming week Soybean, has resistance at
the level 2075 and support at 1880.

Strategy
Soybean is consolidating on charts and one should look for buying opportunities at lower levels, if Soybean, sustains above the
level of 2075 we can see the level of 2150, and on the lower side if it sustains below the level of 1900 we can see Soybean at
1850 level.
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 Weekly Report Agri
19th JulWeekly
to 24th Commodity
Jul 2010 Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

CHANA REASONS FOR MOVEMENT

CHANA RALLIES ON GOOD BUYING INTEREST Lower Level Buying

Chana futures rose last week and witnessed a good rally after falling for Domestic Demand
two continuous sessions on good buying interests at lower levels coupled
with steady demand in the physical market. Chana futures are expected
to trade on steady note during next week on steady demand in the Weekly Pivots
market and good buying interests from millers. However, some profit
booking cannot be ruled out over last week's gains. Millers are showing SCRIPT CHANA
interests in buying at lower levels and enquiries are coming in from R4 2618
retailers too. Daily arrivals were reported at 25 motors while the spot
R3 2519
price hovered around 2185 levels during yesterday. Demand for Chana
dal and flour usually goes up during monsoon months as supply of R2 2419
vegetables drops in wet weather and also due to the start of the festival R1 2385
season in August. There is huge delivery based stocks in the exchange P 2320
and as final expiry date is nearing, traders may buy in futures and sell in
S1 2286
the physical market, which may turn the prices positive. According to
latest report, the total acerage undet pulses are reported to be down S2 2222
2.19 per cent at 8.22 million hectares compared to 8.44 million hectares S3 2123
during last year. S4 2024

Weekly Chart

As we mentioned last week Chana above the level of 2280 did a high of 2355, Chana was bullish for the entire previous week
and was not sustaining at lower levels. For the coming week Chana has resistance at 2390 and support at 2185.

Strategy
Overall trend of Chana is of consolidation and one should go for buying at lower levels strategy in it. For the coming week if
Chana contract sustains above 2390 level we can see it at 2440 and below 2185 we can expect the level of 2140.
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 Weekly Report Agri
19th JulWeekly
to 24th Commodity
Jul 2010 Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

Weekly Pivots

Script R3 R2 R1 PP S1 S2 S3

JEERA 15134.00 14947.00 14656.00 14178.00 13887.00 13409.00 13118.00

TURMERIC 15242.00 15136.00 14928.00 14614.00 14406.00 14092.00 13884.00

PEPPER 21585.00 21138.33 20691.67 19798.33 19351.67 18458.33 18011.67

SOYABEAN 2102.00 2076.00 2045.00 1988.00 1957.00 1900.00 1869.00

GUARGUM 6005.00 5955.00 5814.00 5623.00 5482.00 5291.00 5150.00

GUARSEED 2668.00 2646.67 2590.33 2512.67 2456.33 2378.67 2322.33

CHANA 2450.00 2419.67 2385.33 2320.67 2286.33 2221.67 2187.33

Script R3 R2 R1 PP S1 S2 S3

MUSTARD SEED 551.10 545.52 536.68 532.27 523.43 519.02 510.18

WHEAT 1297.00 1284.67 1271.33 1255.67 1242.33 1226.67 1213.33

GUR 970.60 966.80 957.80 949.00 940.00 931.20 922.20

CARDAMOM 1841.90 1770.37 1706.43 1670.97 1607.03 1571.57 1507.63

CRUDE PALM OIL 385.10 383.30 378.40 371.70 366.80 360.10 355.20

REFINED SOYA OIL 482.30 478.37 472.43 462.57 456.63 446.77 440.83

MENTHA OIL 721.10 715.77 707.73 701.37 693.33 686.97 678.93

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 Weekly Report Agri
19th JulWeekly
to 24th Commodity
Jul 2010 Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

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