NCDEX Daily Agri Commodity Press Report by epicresearch 30 st January 2014


Posted January 30, 2014 by epicresearch5

Coriander output may fall due to excess rain in Madhya Pradesh and Rajasthan, as farmers were not able to sow the seeds due to high water levels.

 
SOYABEAN FUTURE
Soybean futures may trade on a mixed note. Weak overseas markets and pickup in domestic arrivals due to
reopening to markets in MP may pressurize prices. However, fresh meal export enquiries may support prices.
Prices may also take cues from the Rupee movement.

TURMERIC FUTURE

Turmeric futures are likely to trade with positive bias due to weak production estimates for the current year
along with strong demand from domestic and overseas markets. Crop concern in Andhra Pradesh persists due to cloudy weather. However, reports of quality concern currently prevailing in the market may weigh down the price trend.

CHANA FUTURE
Chana futures are expected to trade on a negative note. Higher stocks for delivery on the exchange
Warehouses,higher sowing, favorable climatic conditions as well as comfortable supplies may pressurize prices. Commencement of arrivals of the new crop may add to the downside pressure. However, weather concerns in north India and expectations of pickup in demand may support prices at lower levels. thus, no major downside
is expected. Sowing of Chana is almost complete across the major growing states; weather conditions and
planting progress thereon are the crucial factors to be watch for here onwards.

SUGGESTION OF TODAY TRADING STRATEGY:

BUY CHANA FEB ABOVE 2970 TGTS 3000,3050 SL 2920
SELL CHANA FEB BELOW 2920 TGTS 2890,2840 SL 2970

SUGGESTION OF TODAY TRADING STRATEGY:

BUY CASTORSEED FEB ABOVE 4150 TGTS 4180,4230 SL 4100
SELL CASTORSEED FEB BELOW 4080 TGTS 4050,4000 SL 4130

SUGGESTION OF TODAY TRADING STRATEGY:

BUY DHANIYA FEB ABOVE 8495 TGTS 8525,8575 SL 8445
SELL DHANIYA FEB BELOW 8390 TGTS 8360,8310 SL 8440
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Last Updated January 30, 2014