Daily Agri Ncdex Market News By Epic Research - 23rdAPRIL 2014

AGRI COMMODITY DAILY WRAP UP

JEERA FUTURE

Jeera futures are expected to trade lower due to selling pressure as arrivals of the new crop are rising sharply in spot

markets. The off take is likely to remain limited due to expectation of high output on significant rise in sowing. However,

expectations of pick up in export may limit sharp fall in prices. As per the latest data by Gujarat Agriculture Board, total

acreage of jeera in the state has been increased by 1.05 lakh hectares from the last year to 4.54 lakh hectares. Traders

estimated that total production of jeera is likely to increase by 10 lakh bags to around 46 lakh bags in the current year.

CHANA FUTURE

Chana rates firmed up further as domestic demand rose in the mandis and a fall in arrivals at these lower levels further supported the sentiments. Traders anticipate present rates to be on the lower side and expect demand to start picking up further in coming days. Slight fall in crop quality in Maharashtra, MP and Rajasthan have been reported. Prospects of

demand rising ahead are likely to keep sentiments Bullish in the medium term though short term trend likely to remain

volatile.

REFINED SOYA FUTURE

Refined Soya markets continued the firm sentiments due to good buying support and strong support from international

market with supplies drying off from the major exporters. Soybeans rose the most in two weeks on speculation that

increased demand will reduce supplies in the U.S.

GUARSEED FUTURE

Fundamentals had remained weak for last few months as huge carryover stocks from last year, low export demand and better sowing reports from good rains in Rajasthan, Haryana and Gujarat had kept prices down Even with higher stocks

in domestic markets, reports indicate stocks in International markets which was high earlier, has fallen over last few

months.

DHANIYA

BUY DHANIYA ABOVE 9760 TGTS 9790,9840 SL 9710

SELL DHANIYA BELOW 9670 TGTS 9640,9590 SL 9710

GUARSEED

BUY GUARSEED ABOVE 5020 TGTS 5050, 5100 SL 4970

SELL GUARSEED BELOW 4950 TGTS 4920,4870 SL 5000R

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