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Author: nikkiroy Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 68  
Subject: WEEKLY AGRI REPORT July (19-24) Spices Remaine Date: 7/19/2010 8:58 AM
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JEERA REMAIN BULLISH ON STRONG BUYING

Demand from the overseas as well domestic buyers is providing support to the prices. Increase in the price quotes of Syrian Jeera and reports of defaults in their overseas shipments led prices to surge in the domestic market.Anticipation that the overseas orders may be improved due to defaults by Syria will keep the prices firm. Damage caused by the rains in Turkey to the Jeera will add to the gains in the short term (till July). In the medium term to long term (August onwards)Jeera price will depend on the demand from the overseas and domestic buyers and stocks of Jeera with the major producers. Jeera prices in the intraday will trade sideways to up on account of demand from overseas buyers In the short term (till July), trend will depend on jeera price parity of various origins in international market. In the medium to long term (August onwards) prices are likely to take cues from stocks with major producing nation such as India, Syria and Turkey.

GUAR IS GOOD FOR LONG TERM INVESTMENT

Rains in the major Guar growing areas particularly Hanumangarh andGanganagar are inadequate. If, the rains are deficient or are not revived in next 10-15 days in the above regions, farmers will not sow Guar. Thereby a likely decline in the production is possible. This will provide support to the prices in the medium term. Further, according to the market participants it is expected that farmers could shift to other crops such as pulses and bajra (due to increase in the MSP and high profits earned in the lastyear) will provide support to Guar prices in medium term. Also, scarcity of Guar and Guar gum due to lower production of Guar in the previous year will support prices in the medium term. Guar seed futures in theintraday are expected to trade firm on account of improved buying by the local stockists. Short term (till July), prices will depend on the monsoon rains in the major Guar growing areas and demand from the overseas buyers. In the medium to long term (August onwards), prices will depend on the sowing progress of Guar and demand from the overseas buyers for Guar gum.

SOYBEAN MANAGE TO REMAIN BULLISH

August Soybean futures rallied on second consecutive day, trackingglobal cues and finally it managed to gain about 1% as compared to previous trading session's close. Soybean futures at Chicago Board of Trade surged due to hot and dry weather along with rally in other grains. Weakness in US dollar also added bullish tone. Market participants were slightly bullish in anticipation of lower sowing acreage and output this year as compared to last year due to late and inadequate rainfall in major producing states like Madhya Pradesh. In the short term perspective, soybean prices are expected to trade higher on sharp rally in overseas market. However, for the long term, monsoon rains in major producing states helped in the sowing acreage and better carry over stock this year as compared to last year may cap higher prices in medium term.

CHANA RALLIES ON GOOD BUYING INTEREST

Chana futures rose last week and witnessed a good rally after falling for two continuous sessions on good buying interests at lower levels coupled with steady demand in the physical market. Chana futures are expected to trade on steady note during next week on steady demand in the market and good buying interests from millers. However, some profit booking cannot be ruled out over last week's gains. Millers are showing interests in buying at lower levels and enquiries are coming in from retailers too. Daily arrivals were reported at 25 motors while the spot price hovered around 2185 levels during yesterday. Demand for Chana dal and flour usually goes up during monsoon months as supply of vegetables drops in wet weather and also due to the start of the festival season in August. There is huge delivery based stocks in the exchange and as final expiry date is nearing, traders may buy in futures and sell in the physical market, which may turn the prices positive. According to latest report, the total acerage undet pulses are reported to be down 2.19 per cent at 8.22 million hectares compared to 8.44 million hectares during last year.

For More Updates, Search “MCX NCDEX TRADING TIPS BLOG” In google .
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