www.capitalvia.

com

RESEARCH

WEEKLY
AGRI REPORT
Lower Demad Likely To Keep Spices Under Pressure

10th May 2010 to 15th May 2010

www.capitalvia.com
 Weekly Report Agri
Weekly
10th May to 15th May 2010 Agri Report
1st March to 6th Mar 2010
RESEARCH Weekly Report Agri
RESEARCH 26th April to 01st May 2010

JEERA REASONS FOR MOVEMENT

JEERA SLIPS ON HIGHER ARRIVALS High Production

Increased arrivals and some fall in demand at the higher levels brought High Arrivals
prices down for Jeera. Traders are reportedly waiting for some more
corrections in prices before exports pick up significantly. There are
expectations of a rise in exports in coming days as Dollar shows massive Weekly Pivots
rise vs Re. There are reports of farmers unwilling to sell at these low
levels and holding back their stocks in anticipation of a rise in price from SCRIPT JEERA
these levels. Expectations of higher production, high arrivals and R4 14926
moderate demand are expected to keep pressure on the price. Lower
R3 14170
carry forward stocks are however expected to support the rates. Some
strength in Dollar over last few days can help improving the export R2 13414
demand Latest report from Spice Board of India indicates a rise in Spice R1 13017
exports in April-Feb period from 433,360 tonnes last year to 437,241 P 12658
tonnes this year. Exports of Jeera fell from 49,500 tonnes to 42,500
S1 12261
tonnes.
S2 11902
S3 11146
S4 10390

Weekly Chart

Jeera remained consolidate for the entire previous week, and test the level of 13000 but did not sustain above it. For the
upcoming week Jeera has an important support of 11600 and resistance of 13060.

Strategy
Jeera is bearish on charts and one should use the strategy of selling on higher levels. If in the coming week Jeera sustains below
the level of 11600 then we can expect a level of 11200, and if it sustains above 13060 we can see the level of 13500.

www.capitalvia.com | 2
 Weekly Report Agri
Weekly
10th May to 15th May 2010 Agri Report
1st March to 6th Mar 2010
RESEARCH Weekly Report Agri
RESEARCH 26th April to 01st May 2010

GUARSEED REASONS FOR MOVEMENT

NCDEX GUAR SEED FUTURES TRADING FIRM Supply Shortage

NCDEX GUARSEED JUNE-2010 delivery contract opened at Rs. 2395 Favorable Weather Conditions
per 100 kg today, higher by Rs. 3 per 100 kg against previous close. At
present NCDEX GUARSEED JUNE 2010 contract is trading firm at Rs.
2398 per 100 kg, an increase of Rs. 6 per 100 kg over previous close Weekly Pivots
price. The contract has so far traded in the range of Rs. 2379-2407 per SCRIPT GUARSEED
100 kg. Rise in open interest along with prices indicate that an uptrend R4 2675
is in place and is likely to be sustained. Volume has declined to 64700,
R3 2581
lower by 159550 against previous trading day.
R2 2487
R1 2439
P 2393
S1 2345
S2 2299
S3 2205
S4 2111

Weekly Chart

Guarseed is consolidation on charts and not sustaining at higher levels. For the next week resistance is found at 2577 level and
support at 2330.
Strategy
Traders go for buying on lower levels strategy, if it sustains above the level of 2580 we can see the level of 2670, and below
2330 it can make further downside rally with the target of 2280/2250.
www.capitalvia.com | 3
 Weekly Report Agri
Weekly
10th May to Commodity
15th May 2010 Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

SOYABEAN REASONS FOR MOVEMENT

SOYBEAN LIKELY TO TRADE IN BOTH DIRECTIONS Firm Overseas Market

Movement in both directions was observed on Thursday and prices finally Short Covering
closed slightly up from previous close. International sentiments continue to
remain bearish. Strong Dollar against major currencies and weak international
crude oil are weighing up on the edible oil complex market. Global equity
markets are also weak. In India, monsoon is believed to reach timely in its Weekly Pivots
southern parts. That can serve as another factor in favor of bears. Harvesting in
major South American countries i.e. Brazil and Argentina is towards SCRIPT SOYABEAN
completion and both of these countries are heading towards bumper R4 2181
production this year. Thus international market is expected to continue to face
R3 2126
some bearish cues from supply side. On our domestic front, prices have already
corrected significantly during last few months. But traders still believe that R2 2071
some more correction may be seen in near future. Indian soy DOC export R1 2048
during April fell 14% as compared to the same period last year due to less
crushing and weak demand. On Friday prices are likely to trade in both
P 2016
directions. Selling on some bounce back seems a better intraday strategy. S1 1993
S2 1961
S3 1906
S4 1851

Weekly Chart

Soybean is still in consolidation and we saw some good short covering coming last week. For the coming week Soybean has
support at 1950 and 1910 and resistance at 2075 and 2170.

Strategy
Soybean is in consolidation and one should look for selling opportunities at higher levels, if it sustains below the level of 1910
we can see the level of 1880/1850/1770, and on the upper side if it sustains above the level of 2075 we can see Soybean at
2170 level.
www.capitalvia.com | 4
 Weekly Report Agri
Weekly
10th May to Commodity
15th May 2010 Report
1st March to 6th Mar 2010
RESEARCH Weekly Report Agri
RESEARCH 26th April to 01st May 2010

CHANA REASONS FOR MOVEMENT

NCDEX CHANA GET MARGINAL MOMENTUM Government Intervention

Short covering brought some relieves to the falling chana futures on Higher Production
Friday as the commodity traded slightly higher at the NCDEX. NCDEX
chana May contract quoted flat at Rs 2,079 a quintal, down Rs nine. It
fluctuated between Rs 2,079-2,066 per quintal with trading volumes Weekly Pivots
recorded at 13,990 tons. NCDEX June contract moved up Rs three at Rs SCRIPT CHANA
2,177 a quintal and traded in the range of Rs 2,178-2,163 a quintal. R4 2396
Trading volume stood at 14,840 tons. After breaking crucial support at
R3 2300
Rs2115, chana May NCDEX contract fell sharply by 2 percent yesterday
R2 2204
and made new contract low of Rs2075 levels. Weak fundamentals
R1 2150
continue to pressurize the market for fifth consecutive day. Spot prices
P 2108
remained weak at Rs2100 levels at Delhi on weak demand.
S1 2054
S2 2012
S3 1916
S4 1820

Weekly Chart

Chana remained weak on charts for the whole week, but some short covering came on Saturday. For the coming week Chana
has resistance at 2170 and support at 2030.
Strategy
Overall trend of Chana is still bearish and one should go for selling on higher level strategy in it. For the coming week if Chana
sustains below 2065 level we can see it at 2040 and 2000.Above 2135 we can expect the level of 2175.
www.capitalvia.com | 5
 Weekly Report Agri
Weekly
10th May to Commodity
15th May 2010 Report
1st March to 6th Mar 2010
RESEARCH Weekly Report Agri
RESEARCH 26th April to 01st May 2010

Weekly Pivots

Script R3 R2 R1 PP S1 S2 S3

JEERA 13376.00 13414.00 13017.00 12658.00 12261.00 11902.00 11505.00

TURMERIC 16521.00 16495.33 15930.67 15340.33 14775.67 14185.33 13620.67

PEPPER 17500.00 17721.33 16956.67 16413.33 15648.67 15105.33 14340.67

SOYABEAN 2080.00 2071.00 2048.00 2016.00 1993.00 1961.00 1938.00

GUARGUM 5695.00 5578.33 5420.67 5146.33 4988.67 4714.33 4556.67

GUARSEED 2485.00 2487.00 2439.00 2393.00 2345.00 2299.00 2251.00

CHANA 2192.00 2204.00 2150.00 2108.00 2054.00 2012.00 1958.00

Script R3 R2 R1 PP S1 S2 S3

MUSTARD SEED 508.90 507.53 503.27 497.63 493.37 487.73 483.47

WHEAT 1174.80 1182.60 1165.20 1155.60 1138.20 1128.60 1111.20

GUR 989.20 990.40 973.20 957.20 940.00 924.00 906.80

CARDAMOM 1783.00 1714.17 1638.83 1494.67 1419.33 1275.17 1199.83

CRUDE PALM OIL 378.70 376.80 373.60 368.50 365.30 360.20 357.00

REFINED SOYA OIL 460.45 458.05 454.80 449.15 445.90 440.25 437.00

MENTHA OIL 738.40 753.83 716.27 694.13 656.57 634.43 596.87

www.capitalvia.com | 6
 Weekly Report Agri
Weekly
10th May to Commodity
15th May 2010 Report
1st March to 6th Mar 2010
RESEARCH
RESEARCH

Disclaimer
The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not
accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them
the most.

Investment in Commodity has its own risks. Sincere efforts have been made to present the right investment perspective. The
information contained herein is based on analysis and up on sources that we consider reliable. We, however, do not vouch for
the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss
incurred based upon it & take no responsibility whatsoever for any financial profits or loss which may arise from the
recommendations above.

The stock price projections shown are not necessarily indicative of future price performance. The information herein, together
with all estimates and forecasts, can change without notice.

CapitalVia does not purport to be an invitation or an offer to buy or sell any financial instrument.

Analyst or any person related to CapitalVia might be holding positions in the stocks recommended.

It is understood that anyone who is browsing through the site has done so at his free will and does not read any views
expressed as a recommendation for which either the site or its owners or anyone can be held responsible for.

Our Clients (Paid Or Unpaid), Any third party or anyone else have no rights to forward or share our calls or SMS or Report or
Any Information Provided by us to/with anyone which is received directly or indirectly by them. If found so then Serious Legal
Actions can be taken.

Any surfing and reading of the information is the acceptance of this disclaimer.

All Rights Reserved.

www.capitalvia.com | 7