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RESEARCH

WEEKLY
AGRI REPORT
Grains Surges On Strong Buying Interest!

09th Aug 2010 to 14th Aug 2010
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Weekly Report Agri
Weekly
09th Aug to 14th Aug 2010 Agri Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

JEERA REASONS FOR MOVEMENT

JEERA FIRM ON FOLLOW-THROUGH BUYINGThe Jeera futures Restricted Supply
traded higher during last week's trading session on account of fresh Follow Through Buying
buying happened at exchange platform. Restricted supply at spot
market has supported the prices to move up. The Jeera futures are
Weekly Pivots
expected to trade firm during next week's trading session on account
of follow through buying. Reports of improvement in export demand SCRIPT JEERA
due to lower Indian prices in international market might support the R4 16435
prices. However, profit booking at higher levels cannot be over ruled. R3 15740
According to market sources, Syria prices are hovering around R2 15045
$32003300 per tonne while Indian prices are quoting at $30503100 R1 14610
per tonne. As per trade sources, the total stock position of Jeera is at P 14350
1314 lakh bags against 1617 lakh bags reported last year in the same S1 13920
period but same as reported in last week. As per Spices Board data, S2 13660
Exports in April/June 2010 has decreased by 20% in volume term as S3 12960
compared to same period last year. S4 12270

Weekly Chart

Last week Jeera was in bearish trend, and was not sustaining at higher levels, for the next week resistance for Jeera is found at
14305 and support at 13585.

Strategy
Jeera is in consolidated trend and one should use the strategy of buying on lower levels. If in the coming week Jeera sustains
above the level of 14305 then we can expect a level of 14685, and if it sustains below 13585 we can see the level of 13150.

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Weekly Report Agri
Weekly
09th Aug to 14th Aug 2010 Agri Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

GUARSEED REASONS FOR MOVEMENT

GUAR SEED FALLS SHARPLY ON SPECULATION Profit Booking
The Guar seed and Guar gum futures fell sharply last week retreating Speculative Selling
from its previous week's gains on speculative selling in the futures
market. Reports of higher acreage of Guar seed and poor demand for
churi and korma acted as pressurizing factors for the prices during the Weekly Pivots
week. Favourable weather forecast also had a negative impact on the
SCRIPT GUARSEED
market. The Guar seed and guar gum futures are forecast to trade on a
R4 2625
negative note during the next week on speculative selling. Higher
acreage and favourable weather forecast is acting as bearish factors for R3 2512
the market Though acreage data is showing higher sowing than last R2 2401
year in Rajasthan, weather pattern in August month will play a crucial R1 2338
role on yield According to latest sowing data, Guar seed sowing has P 2290
been done in an area of 14.95 lakh hectares as on 27th July against
S1 2227
13.32 lakh hectares in the same period last year. Rajasthan government
S2 2180
has targeted guar seed acreage at 26.90 lakh hectares for kharif 2010
S3 2069
against 25.81 lakh hectares targeted last year.
S4 1957

Weekly Chart

Last week Guar seed was bearish for most of the week but some good buying at lower levels came on the last day of the week.
For the next week resistance in Guar seed is found at 2345 and support at 2160.

Strategy
For next week traders should go for selling at higher levels strategy, if Guar seed sustains below the level of 2160 we can see
the level of 2100, and above 2345 it can come till 2400.
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Weekly Report Agri
Weekly
09th Aug to Commodity
14th Aug 2010 Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

SOYABEAN REASONS FOR MOVEMENT

SOYBEAN STAGES STRONG RALLY ON BUYING Fresh Buying
The Soybean futures staged a strong rally on Thursday and Friday, after weak Firmness In International Market
opening, on emergence of fresh buying supported by firmness in international
market. Release of bullish oil meal export data supported the rally. Oil meal
Weekly Pivots
exports surged in July month compared to last year and last month. Domestic
traders bought Soybean futures anticipating good demand for Soy meal from SCRIPT SOYABEAN
South East Asian countries in near term. Dry weather forecast for central India R4 2565
also supported the prices during the day. Recovery in international oil and R3 2423
oilseeds market supported the Indian Soy market to witness a sharp rise. We R2 2282
are expecting this trend will continue for August and September, wherein India
R1 2216
might get good oil meal export orders. Stockiest and crushers are buying
P 2141
Soybeans from the spot market anticipating good demand in near term. An
S1 2075
increasing demand for edible oil ahead of festive season is likely to support
S2 2000
further rise in the prices. The CBOT Soybean futures surged their highest level
S3 1859
since December 2009 on strong buying interest supported by wheat crop
failure in Russia due to heat wave.
S4 1718

Weekly Chart

Last week Soybean was in a bullish trend and above 2075 it did out target of 2155, for the next week Soybean has resistance at
2260 and support at 2100.

Strategy
Soybean is bullish on charts and one should look for buying opportunities at lower levels, if Soybean, sustains above the level
of 2260 we can see the level of 2330, and on the lower side if it sustains below the level of 2100 we can see Soybean at 2050
level.
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Weekly Report Agri
Weekly
09th Aug to Commodity
14th Aug 2010 Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

CHANA REASONS FOR MOVEMENT

CHANA FALLS HEAVILY ON DROP IN DEMAND Fall In Demand
Chana prices witnessed a heavy fall during last week on drop in demand Good Rainfall
in the spot market on higher sowing of kharif pulses and rains in the
pulses growing regions. Chana futures are expected to take some
correction over last week's fall and trade on range bound note with some Weekly Pivots
positive bias on account of buying interest at lower levels. Canadian SCRIPT CHANA
yellow peas, which are used as substitute for in the domestic market, are R4 2580
also expected to determine the trend for Chana at present. Weather R3 2492
disruption in Canada, which is the largest exporter to India, is expected to
R2 2404
spoil the sown crop. There is good demand in the domestic market ahead
R1 2348
of festival season and buying at lower levels is expected from stockiest
P 2315
and retailers. However, increased acreage of kharif pulses may limit the
upside, as good crop is expected due to good rains in the producing S1 2260
regions. S2 2227
S3 2140
S4 2052

Weekly Chart

Last Week Chana was in a bearish trend and it was not able to sustain at higher levels and closed near to its low. For the coming
week Chana has resistance at 2360 and support at 2235.

Strategy
Overall trend of Chana is of consolidation and one should go for selling at higher levels strategy in it. For the coming week if
Chana sustains below 2238 level we can see it at 2180 and above 2360 we can expect the level of 2420.
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Weekly Report Agri
Weekly
09th Aug to Commodity
14th Aug 2010 Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

Weekly Pivots

Script R3 R2 R1 PP S1 S2 S3

JEERA 15842.00 15004.00 14618.00 14394.00 14008.00 13784.00 13398.00

TURMERIC 15694.00 14938.00 14336.00 13978.00 13376.00 13018.00 12416.00

PEPPER 21287.00 20535.67 19831.33 19375.67 18671.33 18215.67 17511.33

SOYABEAN 2385.00 2280.00 2212.00 2139.00 2071.00 1998.00 1930.00

GUARGUM 5672.00 5563.33 5359.67 5247.33 5043.67 4931.33 4727.67

GUARSEED 2463.00 2394.00 2323.00 2283.00 2212.00 2172.00 2101.00

CHANA 2485.00 2401.33 2354.67 2324.33 2277.67 2247.33 2200.67

Script R3 R2 R1 PP S1 S2 S3

MUSTARD SEED 583.65 574.88 568.47 563.28 556.87 551.68 545.27

WHEAT 1299.40 1295.00 1276.00 1252.60 1233.60 1210.20 1191.20

GUR 1063.40 1058.00 1046.60 1029.80 1018.40 1001.60 990.20

CARDAMOM 1685.10 1664.80 1597.40 1509.70 1442.30 1354.60 1287.20

CRUDE PALM OIL 429.90 425.23 417.67 405.43 397.87 385.63 378.07

REFINED SOYA OIL 530.85 525.73 517.37 503.88 495.52 482.03 473.67

MENTHA OIL 745.00 741.57 733.33 721.67 713.43 701.77 693.53

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Weekly Report Agri
Weekly
09th Aug to Commodity
14th Aug 2010 Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

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