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RESEARCH

WEEKLY
AGRI REPORT
Fresh Demand Keeps Spices Firm!

23rd Aug 2010 to 28th Aug 2010

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 Weekly Report Agri
Weekly
23rd Aug to 28th Aug 2010 Agri Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

JEERA REASONS FOR MOVEMENT

JEERA REMAIN FIRM ON THIN ARRIVALS Improved Buying

Demand from the local stockists is expected in the coming days. This Overseas Demand
will help prices to remain firm. Also, fresh orders from overseas buyers
are expected tracking lower quotes of Jeera in international market of
Weekly Pivots
Indian origin. Indian Jeera is being offered at $3,000/tonne whereas
Syrian jeera is being offered at higher levels of $3,300/tonne. Any SCRIPT JEERA
significant demand from overseas will help prices to find support and R4 17725
strengthen. Further, there are lower stocks till the fresh arrivals R3 16710
expected in the month of March which will also add to the gains. In the R2 15690
medium term to long term (September onwards), Jeera prices will R1 15300
depend on the demand from the overseas and domestic buyers and P 14680
stocks of Jeera with the major producers. Jeera prices in the intraday S1 14290
will trade sideways to up due to improved buying from local stockists. S2 13660
In the short term (till August), trend will depend on Jeera price parity of S3 12645
various origins in international market. In the medium to long term S4 11625
(September onwards) prices are likely to take cues from stocks with
major producing nation such as India, Syria and Turkey.

Weekly Chart

Last week Jeera was in a consolidation phase but some fresh buying came at the end of the week. For the next week resistance
in Jeera is found at 15350 and support at 14040.

Strategy
Jeera is in an upward trading channel and one should use the strategy of buying on lower levels. If in the coming week Jeera
sustains above the level of 14910 then we can expect a level of 15350, and if it sustains below 14040 we can see the level of
13770.
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 Weekly Report Agri
Weekly
23rd Aug to 28th Aug 2010 Agri Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

GUARSEED REASONS FOR MOVEMENT

GUAR REMAIN POSITIVE IN MANDIS Lower Supply

Guar futures traded firm for the last two days of the week on concerns Selling Pressure
that fresh arrivals of crop will be available only in the month of
November. Also, there are lower stocks of Guargum with the stockists.
This will help prices to find support, if demand revives from the Weekly Pivots
overseas buyers. In the medium to long term (September onwards)
SCRIPT GUARSEED
prices will take cues from the stocks of Guar with the stockists, demand
R4 2457
from the overseas buyers and growth of sown Guar crop.
Also, scarcity of Guar and Guar gum due to lower production of Guar in R3 2357
the previous year 2009-10 will support prices in the medium term. In R2 2257
the intraday Guar seed futures are likely to trade bearish due to selling R1 2204
by the market participants. Short term (till August), prices will depend P 2157
on the demand from the overseas buyers. In the medium to long term
S1 2104
(September onwards), prices will depend on the growth of sown crop
S2 2057
and stocks of Guar with the stockists.
S3 1957
S4 1857

Weekly Chart

Last week as we mentioned below the level of 2160 Guarseed does a low of 2110. For the next week resistance in Guar seed is
found at 2300 and support at 2015.

Strategy
For next week traders should go for selling at higher levels strategy, if Guar seed sustains below the level of 2100 we can see
the level of 2035, and above 2300 it can come till 23600.
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 Weekly Report Agri
Weekly
23rd Aug to Commodity
28th Aug 2010 Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

SOYABEAN REASONS FOR MOVEMENT

SHORT COVERING MAY TAKE PLACE IN SOYBEAN Weak Overseas Market

September Soybean futures traded lower in the morning hours on 4th Lower Demand
consecutive days on account of weakness in overseas market and lower
demand from solvent extractors. However, it recovered sharply an hour before
Weekly Pivots
closing the market due to short covering after continuous fall during the last 3
days and finally it manage to close in green. CBOT September Soybean futures SCRIPT SOYABEAN
ended lower at $ 10.12/bushels, down 18.40 cents/bushels as compared to R4 2422
previous close. In the short term, Soybean prices are expected to trade lower R3 2310
due to weak overseas market and lower demand from solvent extractors ahead R2 2199
of fresh crop amid favorable weather. However, for the long term, poor export
R1 2135
demand of domestic oil meal and existing better carry over stock this year as
P 2087
compared to last year may provide support to the bears.
S1 2023
S2 1975
S3 1863
S4 1750

Weekly Chart

Last week Soybean remained bearish and it did break the support of 2050 but was not able to sustain below it. For the next
week Soybean has resistance at 2115 and support at 2030.

Strategy
Soybean is in a consolidation phase on charts and one should look for selling opportunities at higher levels, if Soybean,
sustains below the level of 2030 we can see the level of 1990, and on the up side if it sustains above the level of 2115 we can
see Soybean at 2150 level.
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 Weekly Report Agri
Weekly
23rd Aug to Commodity
28th Aug 2010 Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

CHANA REASONS FOR MOVEMENT

CHANA BEARISH ON FOLLOW THROUGH SELLING Selling Pressure

The Chana futures extended their bearishness for the second day in a row Lack Of Buying Interest
on follow through selling. Lack of buying interest from dal millers in the
spot market had a negative impact on the futures market. Traders and
investors sold futures on hopes of bumper kharif pulses harvest this year. Weekly Pivots
Higher stock of Chana was also one of the major factors. The Chana SCRIPT CHANA
futures are projected to trade lower on extended selling pressure and on R4 2528
lack of buying interest. Lackluster buying interest from dal millers in the R3 2438
spot market is likely to weigh on the futures market. The kharif pulses
R2 2348
production is expected to be higher this year. Kharif pulses production is
R1 2317
expected to top 16.5 million tons this year. Higher acreage and
P 2258
favourable weather conditions are improving the yield level. Market
participants are waiting for further dip in the prices. According to Union S1 2227
Ministry of Agriculture, Kharif pulses acreage as on 15th August is higher S2 2168
by 20% at 103.20 lakh hectares against 85.88 lakh hectares in the same S3 2078
period last year. The spot price of Chana at Delhi Lawrence Road Mandi is S4 1988
`2260 per quintal. NCDEX warehouse stock of Chana as on 18th August
2010 is 47,061 tons.

Weekly Chart

Last week Chana remained in a consolidated phase and we saw some good buying coming at the end of the week. For the
coming week Chana has resistance at 2325 and support at 2185.

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 sustains below 2185 level we can see it at 2090 and above 2325 we can expect the level of 2380.
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 Weekly Report Agri
Weekly
23rd Aug to Commodity
28th Aug 2010 Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

Weekly Pivots

Script R3 R2 R1 PP S1 S2 S3

JEERA 16438.00 15693.67 15307.33 14676.67 14290.33 13659.67 13273.33

TURMERIC 16502.00 15909.33 14842.67 14183.33 13116.67 12457.33 11390.67

PEPPER 23605.00 22976.67 22128.33 20651.67 19803.33 18326.67 17478.33

SOYABEAN 2283.50 2198.50 2135.00 2086.50 2023.00 1974.50 1911.00

GUARGUM 5298.00 5140.67 4975.33 4852.67 4687.33 4564.67 4399.33

GUARSEED 2291.00 2257.00 2204.00 2157.00 2104.00 2057.00 2004.00

CHANA 2376.00 2348.00 2317.00 2258.00 2227.00 2168.00 2137.00

Script R3 R2 R1 PP S1 S2 S3

MUSTARD SEED 591.05 584.78 570.87 560.68 546.77 536.58 522.67

WHEAT 1295.20 1267.73 1258.67 1252.13 1243.07 1236.53 1227.47

GUR 1073.00 1050.53 1031.67 1020.33 1001.47 990.13 971.27

CARDAMOM 1520.10 1441.77 1352.73 1285.37 1196.33 1128.97 1039.93

CRUDE PALM OIL 435.30 430.47 423.53 417.77 410.83 405.07 398.13

REFINED SOYA OIL 549.15 532.15 512.00 499.85 479.70 467.55 447.40

MENTHA OIL 827.00 798.80 782.20 767.40 750.80 736.00 719.40

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 Weekly Report Agri
Weekly
23rd Aug to Commodity
28th Aug 2010 Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

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