Weekly Agri Commodity Trading Market News By Epic Research Pvt. Ltd. - 11th to 15th August 2014

AGRI COMMODITY DAILY WRAP UP

CHANA FUTURE

Chana futures bounced back sharply from lower levels on lower level demand coupled with festive demand and declining arrival pressure and settled 2.52% higher. Prices have declined over the last few days on an increase in the sowing of kharif pulses and a revival of monsoon. Prices declined over the last few months on sluggish demand in the physical markets coupled with record chana output in 2013-14.

SOYABEAN FUTURE

Soybean futures traded on a mixed note. Short coverings and tight supplies of the old crop supported prices. However, prices declined from higher levels pressurized by increased sowing of soybean, revival of monsoon and weak meal export demand and settled unchanged. The ongoing bearishness in the CBOT soybean market is likely to continue for the near term.

TURMERIC FUTURE

Turmeric futures traded on a positive note on reports of crop damage in Sangli due to heavy rains and settled 0.96% higher. However, weak demand in the physical markets on the back of poor quality crop arrivals and huge carryover stocks capped sharp gains.

JEERA FUTURE

Jeera futures recovered from lower levels in the early trades on short coverings. However, prices again declined from higher levels on weak demand and settled 0.22% lower. Buyers are waiting for lower levels to initiate fresh buying, keeping prices under check. Record output and huge carryover stocks also pressurized prices.

SUGAR FUTURE

Sugar futures traded with a positive bias as threat by UP mills to suspend crushing in the next season starting October support prices and settled 0.07% higher. Prices have declined over the last few days on weak demand coupled with monsoon revival and comfortable supplies.

DHANIYA

BUY DHANIYA SEP . ABOVE 12320 TGTS 12420,12520 SL 12170

SELL DHANIYA SEP. BELOW 12150 TGTS 12050,11950 SL 12300

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