DAILY AGRI REPORT 4th JULY 2013

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 HEADLINES
Chana extend losses by 1.3% on monsoon rains . Chana prices declined further by Rs 43 to Rs 3,051 per quintal in futures trade as speculators reduced positions amid monsoon rains in growing regions. At the National Commodity and Derivatives Exchange, chana for delivery in August declined by Rs 43, or 1.38%, to Rs 3,051 per quintal, with an open interest of 1,
EPIC FOREX:

61,960 lots. Similarly, chana for delivery in the July declined by Rs 42, or 1.38%, to Rs 2,982 per quintal with open interest of 67,660 lots.. Jeera seen hitting Rs 14000 a quintal soon. Jeera remained unchanged in the spot market on domestic and export demand, while it gained marginally in the futures market.

Trading tip:

Buy Castor seed July above 3500 tg 3550, 3600 sl 3340

Export demand is good and likely to remain firm in the short-term due to lack of supply from other major producers. Despite all factors, we see prices can jump to near Rs 14,000 level soon.Jeera

Buy Chilli July Above 5390 tg 5490,5600 sl 5300

exports increased by 76 per cent to 79,900 tonnes in 2012-13 against 45,500 tonnes the previous year. In terms of value, they increased by 70 per cent to Rs 1,093.17 crore.

EXPERT OPINION
STOCK CHANA RM SEED SOYABEAN JEERA S1 3200 3370 3600 13050 S2 3150 3300 3550 12900 R1 3200 3450 3700 13350 R2 3250 3500 3790 13550

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 DAILY SOYABEAN CHART

ANALYSIS
OPEN: 3622 HIGH: 3650 LOW: 3622 CLOSE: 3647

SOYABEAN LOOKS SIDEWAYS TREND: CONSOLIDATE STRATEGY: BUY ON DIPS

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 DAILY CHANA CHART

ANALYSIS
OPEN: 3040 HIGH: 3055 LOW: 3040 CLOSE: 3050

CHANA LOOKS DOWNWAYS TREND: BEARISH STRATEGY: SELL ON RISE

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