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RESEARCH

WEEKLY
AGRI REPORT
Spices Get Support On Global Demand!

14th Jun 2010 to 19th Jun 2010

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 Weekly Report Agri
Weekly
14th Jun to 19th Jun 2010 Agri Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

JEERA REASONS FOR MOVEMENT

JEERA FIRM SYRIA PRICES HELPS INDIA Firm Prices In Syria

Firm Jeera prices of Syrian origin will drive overseas buyers to the India. Demand From Overseas Buyer
This will be supportive for the price trend. In medium to long term (July
onwards) Jeera price trend would be determined by demand from the
overseas and domestic market and Jeera price parity in the Weekly Pivots
international market of various origins such as Syria, India and Turkey. SCRIPT JEERA
According the market sources Jeera production in Syria is around 20 R4 13153
thousand tonnes and Turkey and Iran at 15 thousand tonnes each. R3 12696
Indian production of Jeera is around 1.37 lakh tonnes as compared to R2 12239
1.21 lakh tonnes in 2008-09. Expected demand from the overseas
R1 12039
buyers will keep Jeera prices sideways to up in the intraday. In the short
P 11782
term (June) trend will depend on demand from the domestic and
S1 11582
overseas market and Jeera price parity of the different origins in the
S2 11325
international market. In the medium to long term (July onwards) prices
S3 10868
are likely to depend on demand from the overseas and domestic
market. S4 10411

Weekly Chart

Jeera remained in consolidation last week, some short covering came in the first two days of the week but it did not sustained
at higher level and came down in the later part of the week. For the upcoming week Jeera has an important support of 11020
and resistance of 12030.
Strategy
Jeera is bearish on charts and one should use the strategy of selling on higher levels. If in the coming week Jeera sustains below
the level of 11200 then we can expect a level of 10700, and if it sustains above 12030 we can see the level of 12500.

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 Weekly Report Agri
Weekly
14th Jun to 19th Jun 2010 Agri Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

GUARSEED REASONS FOR MOVEMENT

GUAR GETS SUPPORT ON GLOBAL DEMAND Unfavorable Weather Conditions

Expectation of demand from the overseas buyers will support the Demand From Overseas Market
prices in the short term. However, with monsoon rains to be expected
timely, farmers will be encouraged to increase the acreage in Guar as
they have earned good profits in the last year. This will pressurize the Weekly Pivots
prices in the short term. Lower production of Guar in the previous year
has led availability of the Guar and Guar gum to be scarce. This will SCRIPT GUARSEED
control prices from falling sharply down. Stockiest are therefore going R4 2362
for additional stocking of the produce till the fresh arrivals in the month
R3 2312
of October and November. The sowing of Guar commences in July
following the first showers of monsoon in June. Rajasthan contributes R2 2262
around 50% of the total production while Haryana has a share of 25% R1 2235
and remaining 25% comes from Gujarat, Punjab, Madhya Pradesh and P 2212
Uttar Pradesh. Thus, in the short term prices will takes cues from the
S1 2185
advancement of rains in the interior parts of the nation and demand
from the overseas buyers for Guar gum. Guar seed futures are likely to S2 2162
trade in sideways manner with lackluster trades at the domestic S3 2112
market. Short term prices will take cues from the advancement of S4 2062
monsoon into the interior parts of India. In the medium to long term
prices will depend on the sowing progress of Guar and demand from
the overseas buyers for guar gum.

Weekly Chart

Guar seed was in a very narrow range for most of the last week but it was not able to sustain at higher level. For the next week
resistance is found at 2360 level and support at 2100.
Strategy
Traders should go for selling on higher levels strategy, if Guarseed sustains below the level of 2100 we can see the level of
2060, and above 2360 it can go further upside till 2420.
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 Weekly Report Agri
14th JunWeekly Commodity
to 19th Jun 2010 Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

SOYABEAN REASONS FOR MOVEMENT

SOYBEAN GAINS MARGINALLY ON SHORT COVERING Short Covering

July Soybean futures ended mildly higher on account on short covering on Sluggish Demand
Thursday. The Minimum Support Price (MSP) of Soybean (Black), Soybean
(Yellow) and Sesamum have been increased by Rs.50 each over the last year's
MSPs and fixed at Rs. 1400 per quintal, Rs.1440 per quintal and Rs.2900 per Weekly Pivots
quintal, respectively. MSPs of Groundnut-in-shell, Sunflower seed and Niger
seed have been increased by Rs. 200/qtl, Rs. 135/qtl and Rs. 45/qtl over the last SCRIPT SOYABEAN
year's MSPs and have been fixed at Rs. 2300 per quintal, Rs. 2350 per quintal R4 2030
and Rs. 2450 per quintal, respectively. The USDA lowered 2009/10 &
R3 1989
2010/2011 soybean ending stocks by 5 million bushels from last month to 185
million and 360 million bushels respectively as compares with 138 million last R2 1948
year. World ending stocks for 2009/10 were pegged at 65.47 million tonnes R1 1930
from 63.76 million last month and from 43.7 million tonnes last year. Soybean
P 1907
prices are expected to open lower on weak overseas market and poor export
figures of domestic soy meal in the month of May. Ahead of rain monsoon and S1 1889
better carry over stock this year as compared to last year and lower demand S2 1866
from solvent extractors. However, in the long term perspective, Soybean prices S3 1825
are expected to trade lower on higher global Soybean production estimate this
S4 1784
year as compared to last year. Decline in domestic oil meal export this year as
compared to last year are also in favour of bears.

Weekly Chart

Soybean remained bearish for the entire previous week but some good short covering came on Saturday. For the coming week
Soybean has support at 1910 and 1880 and resistance at 2036.

Strategy
Soybean is bearish on charts and one should look for selling opportunities at higher levels, if it sustains below the level of 1880
we can see the level of 1820, and on the upper side if it sustains above the level of 2040 we can see Soybean at 2150 level.
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 Weekly Report Agri
14th JunWeekly Commodity
to 19th Jun 2010 Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

CHANA REASONS FOR MOVEMENT

CHANA MAY FALL ON BUMPER CROP High Arrival

Lower world availability of pulses due to weather disruptions and thereby Lackluster Demand At Domestic
floods in Canada one of the largest producers of pulses will provide
Market
support to the prices in the short term. Canada provides almost half of
India's annual import requirement of pulses. However, domestic Kharif Weekly Pivots
pulses area as on May 21, 2010 is expected to be up 0.467 lakh hectares
SCRIPT CHANA
as compared to 0.255 lakh hectares in the same period previous year.
Further, timely advancement of rains in the interior parts of India will R4 2237
control prices from moving sharply above. Overall Chana production for R3 2210
the year 2009-2010 is a bumper crop with good carryover stocks. R2 2183
Production of Chana in 2009-2010 is estimated at 7.38 million tonnes as R1 2168
compared to 7.06 million tonnes in 2008-09. This will cap the upside in
P 2156
the long term (June onwards). Chana futures are likely to trade in
sideways manner due to lackluster trades at the domestic market. Prices S1 2141
in the short term (June) will depend on the arrivals from the mandis and S2 2129
demand from domestic market. In the long term (July onwards) prices S3 2102
may take cues from the prices of other pulses and demand from the S4 2075
domestic stockiest.

Weekly Chart

Last week Chana was in consolidation and was neither sustaining at higher levels nor at lower levels. For the coming week
Chana has resistance at 2215 and support at 2065.
Strategy
Overall trend of Chana is still bearish and one should go for selling on higher level strategy in it. For the coming week if Chana
sustains below 2065 level we can see it at 2000 and above 2215 we can expect the level of 2310.
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 Weekly Report Agri
14th JunWeekly Commodity
to 19th Jun 2010 Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

Weekly Pivots

Script R3 R2 R1 PP S1 S2 S3

JEERA 12282.00 12234.33 12029.67 11777.33 11572.67 11320.33 11115.67

TURMERIC 15408.00 15184.67 14923.33 14438.67 14177.33 13692.67 13431.33

PEPPER 16468.00 16450.33 16271.67 16075.33 15896.67 15700.33 15521.67

SOYABEAN 1953.00 1948.67 1930.33 1907.67 1889.33 1866.67 1848.33

GUARGUM 4917.00 4921.33 4845.67 4774.33 4698.67 4627.33 4551.67

GUARSEED 2264.00 2264.00 2239.00 2214.00 2189.00 2164.00 2139.00

CHANA 2180.00 2183.67 2168.33 2156.67 2141.33 2129.67 2114.33

Script R3 R2 R1 PP S1 S2 S3

MUSTARD SEED 533.00 534.33 528.17 523.33 517.17 512.33 506.17

WHEAT 1335.40 1326.67 1311.33 1287.27 1271.93 1247.87 1232.53

GUR 984.00 982.67 970.13 956.27 943.73 929.87 917.33

CARDAMOM 2223.80 2243.60 2047.20 1870.60 1674.20 1497.60 1301.20

CRUDE PALM OIL 376.00 377.83 372.67 369.33 364.17 360.83 355.67

REFINED SOYA OIL 451.60 453.43 447.47 443.33 437.37 433.23 427.27

MENTHA OIL 799.30 818.40 777.90 756.50 716.00 694.60 654.10

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 Weekly Report Agri
14th JunWeekly Commodity
to 19th Jun 2010 Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

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