WEEKLY AGRI REPORT 17TH SEPTEMBER 2012

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 HEADLINES
Sugar remains up on festive demand Sugar futures rose by 0.56 per cent to fresh three-week high of Rs 3,570 per quintal, driven by rising demand in spot markets for the festive season. However, adequate supplies in the market limited the gains. At the National Commodity and Derivatives Exchange, sugar for November delivery traded Rs 20, or 0.56 per cent, higher at Rs 3,570 per quintal, with an open interest for 16,230 lots. Sugar for delivery in October also traded higher by Rs 18, or 0.51 per cent, at Rs 3,568 per quintal, with open interest of 41,510 lots.

Trading tip: Buy Cocud Oct Above 1430 TGTS- 1445/1470 SL- 1403

Potato futures extend gains as demand pick up Potato prices extended gains for the second day in a row by adding Rs 29 to Rs 1,000.50 per quintal as traders enlarged positions, driven by rising spot demand against less arrivals from producing belts.

Previous Performance: Sell Soybean Nov.

STOCK S1 4268 4071 3612 13861 S2 4038 3918 3549 13428 R1 4786 4307 3756 14546 R2 5074 4390 3837 14798

EXPERT OPINION

Between 3740-3760 For TGTS 3650/3550 SL- 3830 TARGET ACHIEVED

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CHANA RM SEED SOYABEAN JEERA

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PRODUCT NAME

EXP DATE

OPEN

HIGH

LOW

CLOSE

LTP

CHG

PERCENTAGE CHANGE

WEEKLY MARKET ANALYSIS

CHANA 7/19/2012 4556 5060 4573 5060 4525 5018 4560 5120 4532 5018 -28 -102 -0.61 -1.99

CHILLI Pepper 7/19/2012 GUR

Pepper prices are expected to continue the positive trend during todays trading session on 7/19/2012 1188 1188 1178 1183.5 1178 -5.5 -0.46 fresh buying at lower levels. Exhausted supplies along with expectations of fall in pepper production in coming season are likely to cushion pepper prices. However, short term trend JEERA 7/19/2012 14955 14960 14650 15052.5 14800 -252.5 -1.68 is likely to remain volatile amid reports of cheaper Sri Lankan pepper coming in Indian is also weighing on domestic pepper prices. KAPAS 7/19/2012 1044 1053 1035 1049 1041 -8 -0.76

Chilli
PEPPER

REF SOYA

Chilli prices are projected to continue the recovery on lower level buying during todays trading session. Poor sowing progress noticed in major grower Andhra Pradesh might support chilli prices for short term. However, overall trend is still subdued amid steady arrivals and poor export demand.
7/19/2012 7/19/2012 7/19/2012 4309 4600 1251 4330 4676 1282 4265.5 4518 1251 4303 4664 1246 4315 4540 1282 12 0.28 7/19/2012 780.5 783.6 777.4 782.85 781.3 -1.55 -0.2

7/19/2012

42300

42555

42250

42390

42435

45

0.11

SOY BEAN

Turmeric
TURMERIC WHEAT

Turmeric prices are expected to witness very subdued trend on back of prevailing mixed sentiments. Most of the farmers in Erode have refused to sell their produce below Rs. 9000. Therefore, traders are shifting to cheaper destination like Nizamabad and Warangal. Exporters are still waiting for fresh export orders and thereby, staying away from bulk buying which might weigh on turmeric prices.
36 2.89

-124

-2.66

Jeera Jeera prices are projected to continue the down trend on back of prevailing bearish sentiments. Poor demand at domestic as well as at export front is likely to weigh on prices. Sufficient stocks along with better sowing prospects might also add pressure on jeera prices. However, small recovery can be seen during the day on lower level buying but it might remain short live following the overall bearish fundamentals.

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 WEEKLY SOYABEAN CHART

ANALYSIS
OPEN: 3707 HIGH: 3775 LOW: 3631 CLOSE: 3675

SOYABEAN LOOKS BEARISH TREND: DOWNWARDS STRATEGY: SELL ON RISE

 WEEKLY CHANA CHART

ANALYSIS
OPEN: 4844 HIGH: 4844 LOW: 4326 CLOSE: 4499

CHANA LOOKS BERISH TREND: DOWNWARD STRATEGY: SELL ON RISE

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