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AGRI COMMODITY DAILY WRAP UP
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.
SOYABEAN 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 therates for Soybean.
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
BUY DHANIYA APR ABOVE 9555 TGTS 9585,9635 SL 9505
SELL DHANIYA APR BELOW 9455 TGTS 9425,9375 SL 9495
GUARSEED
BUY GUARSEED APR ABOVE 4750 TGTS 4780,4830 SL 4710
SELL GUARSEED APR BELOW 4710 TGTS 4680,4630 SL 4760
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