DAILY AGRI OUTLOOK

MAR 14, 2011

SPICES- JEERA

NCDEX JEERA FUTURE

• The jeera futures washout all the gains made during last
week on long liquidation. Futures started the week on positive
note extending the previous week’s gains and made a new all
time high of 17520 levels.

• However, prices failed to sustain at higher levels and

reversed the trend on profit selling. Huge fresh crop arrivals
further pressurized the prices and futures fell drastically.

• However, on reports of rains in Rajasthan and Gujarat limited

the losses and prices witnessed some short covering but
overall bearish sentiments due to ongoing harvesting season.

• Exports of jeera during April 2010- January 2011 plunged

36% and stood at 26,000 tonnes as compared to 40,800
tonnes in the same period previous year. Arrivals and
Production

OPENHIGHLOWCLOSE% CGR3R2R1S1S2S3VOLOI16000160001557056721-1.04165001630016100160001580015600207005808

STRATEGY: - Sell around 15900-16000 SL 16200 T/P 15400/15300

SPICES- PEPPER

NCDEX PEPPER FUTURE

• Pepper futures extended the bearish trend on strong selling

pressure the week ended on March 5th, 2011. On opening itself
prices started falling on extended selling pressure.

• Sluggish spot market activity amid lack of active buying interest

pressurized the prices. Though Indian prices remained inline
with other origins even then export demand did not picked up.
Daily Report – Equity
• Most of the investors from US and European countries remained
silent in anticipation of further fall in prices.

• However, prices showed small recovery towards the end of the

week on short covering but bearish reports from international
market pull down the prices and futures ended on negative note.

OPENHIGHLOWCLOSE% CGR3R2R1S1S2S3VOLOI22646226982230022353-0.63227842268722554223242222722094102238436

STRATEGY: - t Dips to 22400/22300, could hold for a move towards 22600/22800.

 DAILY AGRI OUTLOOK

MAR 14, 2011

OIL COMPLEX- SOYABEAN

NCDEX SOYA BEAN FUTURE

OPENHIGHLOWCLOSE% CGR3R2R1S1S2S3VOLOI23092332229723280.122456244924392322230022503101105760
• Edible Oil complex witnessed selling in the
previous week on account of better
production estimates of global Soybean and
palm oil in the current season.
•
• Palm oil production in Indonesia and
Malaysia, the world's top two suppliers, will
stay above 40 million tonnes per annum
according to a leading agronomist.
•
• Further, according to the latest USDA report
released on 10th March, 2011 global
oilseeds production is expected to surge to
444.2 million tones up by 2.4 million tonnes
from previous month's projections.

Daily Report – Equity

STRATEGY: - t Dips to 2300/2280, could hold for a move towards 2360/2380.
PULSES – CHANA
 DAILY AGRI OUTLOOK

MAR 14, 2011

NCDEX CHANA FUTURE

• Chana futures declined drastically for the third consecutive

week during taking cues from the spot markets. Profit
booking continued during the last week as the crop damage
reports were not much prominent as the traders expected.

• The stable production expectations of chana around 7.35 lakh

tons kept the market under pressure. Harvesting has started
across Madhya Pradesh which resulted in increasing arrivals
across the spot markets.

• The prices across the spot markets have dropped by `.100-

150/quintal in the last week which had same effect on the
prices. The stockists and millers across the spot markets were
anticipating further fall in the prices to accumulate the
produce. The decline in the prices of yellow peas had adverse
effect on the prices.

OPENHIGHLOWCLOSE% CGR3R2R1S1S2S3VOLOI2423243323842421-0.382487247324512415240123794356558450

STRATEGY: Dips to 2400/2380 could find support for a move higher towards 2480/2500, risk at 2400.

Daily Report – Equity

 DAILY AGRI OUTLOOK

MAR 14, 2011

GUAR SEED

NCDEX GUAR SEED FUTURE

OPENHIGHLOWCLOSE% CGR3R2R1S1S2S3VOLOI26482676263226570.09272329002879285428082787786437090
• Guar seed and guar gum futures traded positive for the
second consecutive week during the last week. The prices
were trading strongly positive through out the week despite
some correction in the mid week.

• The arrivals have almost come to an end across the spot

markets. The strong demand for the guar gum across the
spot markets supported the prices. The aggressive buying of
guar gum from the exporters across the spot markets and
increased demand for churi and korma supported the rise in
the prices.

• The stocks in pipeline were decreasing which created good

buying. The shipment of 140,000 bags of gum for the crop
year 2010-11 created good demand for the ready guar gum.
Most of the arrivals which have come into spot markets are
crushed which created the supply crunch of the guar seed
which supported the prices.

STRATEGY: - Dips to 2620/2600 could find support for a move higher towards 2680/2700, risk at 2600.

PIVOT POINTS

COMMODITY R2 R1 PIVOTS S1 S2
JEERA 16177.33 15924.67 15747.33 15494.67 15317.33
PEPPER 22848.33 22600.67 22450.33 22202.67 22052.33
SOYA BEAN 2354.00 2341.00 2319.00 2306.00 2284.00
GUAR SEED 2699.00 2678.00 2655.00 2634.00 2611.00
CHANA 2461.67 2441.33 2412.67 2392.33 2363.67

Daily Report – Equity

 DAILY AGRI OUTLOOK

MAR 14, 2011

Research Desk

PRIYANK UPADHYAY Priyank.upadhyay@ssjfinance.com +91 22 3300 8861

(AVP-RESEARCH)
+91 22 3300 8870
ANUP SAHU anupsahu@ssjfinance.com
(RESEARCH ANALYST)
+91 22 3300 8862
SUNIL ROKADE Sunil.rokade@ssjfinance.com
(RESEARCH ANALYST)

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