NCDEX Daily Agri Commodity Press Report by epicresearch 31 st January 2014


Posted January 31, 2014 by epicresearch5

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

 
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.

JEERA FUTURE
Jeera futures may continue to decline on higher sowing and higher output expectations this season. Fresh
overseas demand may however, limit the downside and support prices at lower levels.

CHANA FUTURE
Weak demand, higher stocks for delivery on the exchange warehouses, higher sowing as well as comfortable
supplies may continue to keep chana prices under downside pressure. Commencement of arrivals of the new
crop may also add to the downside pressure. However, weather concerns in the north and expectations of pickup
in demand may support prices at lower levels. Prices are trading near the MSP levels, thus, no major downside is
expected.

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.

SUGGESTION OF TODAY TRADING STRATEGY:

BUY CHANA FEB ABOVE 2970 TGTS 3000,3050 SL 2920
SELL CHANA FEB BELOW 2865 TGTS 2845,2795 SL 2915

SUGGESTION OF TODAY TRADING STRATEGY:

BUY CASTORSEED FEB ABOVE 4200 TGTS 4230,4280 SL 4150
SELL CASTORSEEED FEB BELOW 4140 TGTS 4110,4060 SL 4190

SUGGESTION OF TODAY TRADING STRATEGY:

BUY DHANIYA FEB ABOVE 8390 TGTS 8420,8470 SL 8340
SELL DHANIYA FEB BELOW 8300 TGTS 8270,8220 SL 8350
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Last Updated January 31, 2014