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NCDEX Daily Agri Commodity Press Report by epicresearch 28 st January 2014
CORIANDER FUTURE
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. As well, cold wave condition along with rain continues to hamper the crop with ‘blight’ disease; the aftermath of which is likely to exist for around three years. Accordingly, the acreage under coriander in major producing states is likely to decline in coming years because farmers may execute crop rotation which is considered as a major measure to control the disease.
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 3045 TGTS 3065,3105 SL 3015
SELL CHANA FEB BELOW 2965 TGTS 2945,2905 SL 3005
SUGGESTION OF TODAY TRADING STRATEGY:
BUY CASTORSEED FEB ABOVE 4190 TGTS 4220,4270 SL 4140
SELL CASTORSEED FEB BELOW 4125 TGTS 4095,4045 SL 4175
SUGGESTION OF TODAY TRADING STRATEGY:
BUY DHANIYA FEB ABOVE 8430 TGTS 8460,8510 SL 8380
SELL DHANIYA FEB BELOW 8270 TGTS 8240,8190 SL 8320
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