WEEKLY AGRI REPORT 18TH March 2013

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 HEADLINES
Chana futures up on pick-up in demand
Chana prices rose by Rs 9 to Rs 3,395 per quintal in futures trade today mostly supported by rising demand in the spot markets. However, expectations of higher output and rising arrivals from the new season crop in the physical market restricted the gains. At the National Commodity Derivatives Exchange, chana for delivery in April rose by Rs 9, or 0.27 per cent, to Rs 3,395 per quintal, with an open interest of 73,590 lots. Likewise, the

TRADING TIP:

commodity for delivery in May traded higher by Rs 8, or 0.24 per cent, to Rs 3,384 per quintal in 65,300 lots. Analysts said the rise in chana prices at futures trade was mostly attributed to strong demand in the spot market.

SELL TMC APR BELOW 6870 TGTS 6770/6600 SL 7050 BUY DHANIYA APR AROUND 6660 TGTS 6760/6870 SL 6460

EXPERT OPINION
STOCK CHANA RM SEED SOYABEAN JEERA S1 S2 R1 R2

3,347 3,410 3,421 13,159

3,287 3,369 3,366 12,908

3,454 3,507 3,565 13,601

3,501 3,563 3,654 13,792

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PRODUCT EXP DATE Pepper NAME

WEEKLY MARKET ANALYSIS

OPEN HIGH LOW CLOSE LTP CHG PERCENTAGE CHANGE

Pepper prices moved up by Rs 165 to Rs 36,045 per quintal in futures trading today as speculators created fresh by 4560 a rise in 4532 demand in market. CHANA 7/19/2012 4556 positions, 4573 supported 4525 -28the spot -0.61 However, estimates of a higher output this season limited the gains. At the National Commodity and Derivatives pepper rose by Rs 165, or CHILLI 7/19/2012 5060 Exchange, 5060 5018 for delivery 5120 in April 5018 month -102 -1.99 0.46 per cent, to Rs 36,045 per quintal, with an open interest of 1,427 lots. Similarly, the spice for delivery in March up by Rs 115, or 1183.5 0.31 per cent, to Rs 37,270 per quintal in GUR 7/19/2012 1188 moved 1188 1178 1178 -5.5 -0.46 675 lots. Analysts attributed the rise in pepper prices at futures trade to fresh positions builtup by speculators on the back of pick in demand in the spot market.
JEERA 7/19/2012 7/19/2012 14955 1044 14960 1053 14650 1035 15052.5 1049 14800 1041 -252.5 -8 -1.68 -0.76

Chilli
KAPAS

TURMERIC WHEAT

Arrivals of chilli crop were steady above 50,000 bags; however off-take has declined on dull demand at auctions held at Guntur market. Spot rates were down by Rs80-Rs100 per quintal PEPPER 7/19/2012 42300 42555 42250 42390 42435 45 0.11 while futures too were down by 1.5-2percent.Arrivals of jeera crop increased to 38,000 bags while demand was reported ~35,000 bags at 782.85 auctions held at Unjha market. Spot REF SOYA 7/19/2012 780.5 steady 783.6 777.4 781.3 -1.55 -0.2 rates are trading firm at Rs133-Rs134 per kg with strong demand seen among exporters & stockiest, as per local 4309 traders. Spot of pepper garbled were steady at kg and SOY BEAN 7/19/2012 4330rates 4265.5 4303 4315 12Rs366 per 0.28 that of un-garbled was unchanged at Rs351 per kg. Arrivals stood at 67 tons, but trades decline to 65 tons at auctions held at Kochi market, as per IPSTA.
7/19/2012 7/19/2012 4600 1251 4676 1282 4518 1251 4664 1246 4540 1282 -124 36 -2.66 2.89

Turmeric Turmeric futures retreated from a contract high to trade down on Friday as mounting stocks and supplies from the new season crop offset concerns over lower output. National Commodity and Derivatives Exchange (NCDEX) has imposed a 10 per cent special margin on long-side turmeric contracts effective Mar. 14.At 0900 GMT, the most-active turmeric contract for April delivery on the NCDEX was 0.54 per cent lower at 7,024 rupees per 100 kg. It hit a contract high of 7,142 rupees earlier in the day. Jeera Jeera prices moved down by 1.03 per cent to Rs 13,245 per quintal in futures trade today as speculators reduced their positions, triggered by expectations of higher output this season. At the National Commodity and Derivatives Exchange, jeera for delivery in March moved down by Rs 137.50, or 1.03 per cent to Rs 13,245 per quintal, with an open interest of 646 lots. In a similar fashion, the spice for delivery in April lost Rs 87.50, or 0.65 per cent, to Rs 13,330 per quintal in 11,334 lots. Market analysts attributed the fall in jeera futures to offloading of positions by speculators on expectations of higher output this season.

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 WEEKLY SOYABEAN CHART

ANALYSIS
OPEN: 3559 HIGH: 3599 LOW: 3455 CLOSE: 3476

SOYABEAN LOOKS UPWARDS TREND: CONSOLIDATED STRATEGY: BUY ON DIPS

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 WEEKLY CHANA CHART

ANALYSIS
OPEN: 3376 HIGH: 3442 LOW: 3335 CLOSE: 3407

CHANA LOOKS UPWARDS TREND: CONSOLIDATED STRATEGY: BUY ON DIPS

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