Daily Agri Ncdex Market News By Epic Research - 02th April 2014

AGRI COMMODITY DAILY WRAP UP

SOYBEAN FUTURE

Soybean futures are expected to trade on a mixed to negative note tracking weakness in the overseas markets and weak soy meal export demand. Soybean markets remained sideways with some demand from crushers in Madhya Pradesh. Firmness in International markets along with a pick up in demand at these lower levels supported the rates for Soybean.

GUARSEED FUTURE

Higher production reports, better arrivals have ensured a fall in rates over last few weeks. Farmers have started bringing in supplies from the new harvest into local markets. Guar arrivals are picking up, with output expected to rise due to good Monsoon rains in Rajasthan this year.

CHANA FUTURE

Chana futures are expected to trade on a negative note today. Good sowing reports from MP, UP and Rajasthan amidst high stocks, rise in imports and fall in demand have pressurized Chana rates for last few months. As per ministry of Agriculture reports, sown area for Rabi Pulses is projected at a record high 16.2 million. Significant improvement in yield to move above 900kg/ha was also possible due to conducive weather.

CORIANDER FUTURE

Coriander futures are likely to trade higher on forecast of lower output due to untimely rains in major producing

areas of Madhya Pradesh and Rajasthan. As per market source, extremely low temperatures and unseasonal rains

in Madhya Pradesh and Rajasthan have affected 20-25 percent of the total acreage. However, rising supply of new

crop in Kota and Ramganj markets might cap major gains.

DHANIYA

On Technical chart Dhaniya apr is in bullish trend where dhaniya apr future made new high, Immediate support @ 9490 and immediate resistance @ 9630.Momentum indicators RSI and is above their mid range also support bullish trend in dhaniya.

Expecting that rising in price will continue in upcoming trading session.

GUARSEED

Guarseed apr short term trend looking sideways to bearish in daily chart. Momentum indicators is in mid range.

In intraday basis immediate support @ 4750 & immediate resistance @ 4840.

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