Daily Agri Commodity Market Wrap

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SureshBajaj

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#1
MARKET WRAP : 07/01/2011:)


Turmeric drops on profit booking
Pepper falls on poor exports
Jeera remain steady
Cardamom declines on short selling
Soy oil jumps on short covering
Guar up on falling arrivals
Mentha oil up on short covering
Mustard Seed tumbles on selling pressure


Traders are reportedly waiting for new Turmeric crop arrivals to initiate fresh demand. Demand for Jeera from US and European countries are likely to shift towards India in coming weeks due to low stocks in the International markets. Export demand from South-East Asian countries is there. Tight supply position in Pepper against strong demand is prevailing in the global market and the prices are likely to remain firm until the fresh arrivals from major producing nations Vietnam and India are floated into the world markets. The buying from the guar gum manufacturers for their already signed consignments has come to an end. Adequate stocks following increased arrivals from the producing regions dampened the sentiment in Cardamom prices. Soybean crushing in India is going on with full speed and the availability of soy oil is not a problem in the domestic physical markets. International market sentiments were weak due to improved weather conditions in Argentinas soybean growing areas.
 
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SureshBajaj

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#2
08/01/2011:thumb:

Turmeric drops on profit booking
Pepper falls on sluggish exports; seen weak
Jeera slips at end on poor exports
Cardamom gains on short covering
Soy oil tumbles on weak global cues
guar falls on output view
Mentha oil up on short covering


Turmeric prices in short term will depend on demand from the domestic and overseas buyers and growth of sown crop. Demand for Jeera from US and European countries are likely to shift towards India in coming weeks due to low stocks in the International markets. Export demand from South-East Asian countries is there. Any revival in demand of Pepper from the domestic stockists will however, provide support to the prices in the short term as the harvesting in Kerala is delayed. The guar gum buyers have already stocked enough to fulfill their export consignments, new export consignments shall also be backed off from registering at this higher price levels. The trend reversal can be seen if the prices cool off a bit. Chana prices may trade range bound with negative bias due to dull demand from the domestic buyers. Price gains may be capped on positive reports of sowing and rising arrivals of Kharif pulses. Mustard seed prices are expected to trade slightly lower due to higher production estimates of RM Seed amid favorable weather conditions.
 
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SureshBajaj

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#3
MARKET WRAP : 10/01/2011:thumb:


Turmeric up on short covering
Pepper falls on sluggish exports; seen weak
Jeera remains steady
Cardamom gains on short covering
Soy oil climb tailing overseas markets
Guar up on strong fundamentals
Mentha oil up on short covering


Turmeric prices in short term will depend on demand from the domestic and overseas buyers and growth of sown crop. Trend will depend on Jeera price parity of various origins in international market and stocks of Jeera with local stockists. Pepper prices will depend on global black pepper availability and demand from the overseas and domestic market. The guar gum buyers have already stocked enough to fulfill their export consignments, new export consignments shall also be backed off from registering at this higher price levels. The trend reversal can be seen if the prices cool off a bit. In the short to medium term (1-2 week), Chana price gains may be capped on positive reports of sowing and fresh arrivals from Karnataka. Mustard seed prices are expected to trade lower due to higher production estimates of RM Seed amid favorable weather conditions. Huge losses in overseas market are also in favor of bears. Prices of Soy oil are expected to move northwards due to global shortage of vegetable oil couple with strong demand of edible oils.
 
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SureshBajaj

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#4
MARKET WRAP : 11/01/2011:clap:


Turmeric falls on new arrivals
Pepper continues downtrend on weak exports
Jeera falls on weak exports
Oilseeds, Soy oil steady
Guar zooms on short covering
Mentha oil move further higher
Chana tumble on increased arrivals



Turmeric prices in short term will depend on demand from the domestic and overseas buyers and growth of sown crop. The short term trend is likely to remain slight weak if weather conditions remain good in the growing areas. Pepper harvest is in upswing and new material is expected to arrive into market soon. Prices of varies varieties gained during the last week. The demand could pick up in the coming weeks as the present levels are low and that could support the prices in the near term. But till that time some more corrections in rates could not be ruled out. Mustard seed prices are expected to trade lower due to higher production estimates of RM Seed amid favorable weather conditions. Huge losses in overseas market are also in favor of bears. Prices of Soy oil are expected to move northwards due to global shortage of vegetable oil couple with strong demand of edible oils. Reports of fall in production of Mentha and a rise in demand at lower levels is expected though traders are not ruling out intermittent profit booking at higher levels before demand rises again.
 
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SureshBajaj

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#5
MARKET WRAP : 12/01/2011:thumb:

Turmeric gains on fresh buying
Pepper up on short covering
Jeera falls on weak exports
Soybean, soy oil up on global cues
Guar edges up on falling arrivals
Chana remains flat
Mustard seed down


Turmeric prices in short term will depend on demand from the domestic and overseas buyers and arrivals in the domestic market. In short term Pepper prices will depend on global Black pepper availability and demand from the overseas and domestic market. Trend of Jeera will depend on price parity of various origins in international market and stocks of Jeera with local stockists. Bumper crop expectation of Mustard seed due to higher acreage had a bearish impact on the market. Spot markets witnessed a subdued trading due to severe winter across north India. Prices of Soy oil are expected to move northwards due to global shortage of vegetable oil couple with strong demand of edible oils. Reports of fall in production of Mentha and a rise in demand at lower levels is expected though traders are not ruling out intermittent profit booking at higher levels before demand rises again. The recovery in the weather conditions has led more arrivals of Guar to enter the market. The pressure of the arrivals to remain till the end of this month is likely to keep the market down.
 
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SureshBajaj

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#6
MARKET WRAP : 13/01/2011:thumb:


Turmeric declines on weak exports
Pepper drops on profit booking
Jeera falls on weak exports
Oilseeds, Soy oil fall on global markets
Guar gains on falling arrivals
Chana up on local demand
Soybean declines on profit selling



Turmeric prices will depend on demand from the domestic and overseas buyers and arrivals in the domestic market. Pepper prices will depend on global availability and demand from the overseas & domestic market. Trend of Jeera will depend on price parity of various origins in international market & stocks of Jeera with local stockists. Good crop expectation of RM seed due to higher acreage had a bearish impact on the market. Spot markets witnessed a subdued trading due to severe winter across north India. Bad weather condition in American countries is likely to worsen world soy supply situation. Depleting stock level of Mentha and robust demand from local traders as well as exporters will give support to the market. The recovery in the weather conditions has led more arrivals of Guar to enter the market. The pressure of the arrivals to remain till the end of this month is likely to keep the market down. The imports of Chana have declined as the quality of produce in Australia is damaged and unfit for consumption. The upside is limited as the demand across the spot markets is lower.
 
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SureshBajaj

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#7
MARKET WRAP : 15/01/2011:thumb:


Turmeric inches down
Pepper trade down on profit booking
Jeera up on lower level buying
Soy oil up on low imports
Guar up more than 2% on firm demand
Chana hits one month high
Soybean up on meal exports


Turmeric prices will depend on demand from the domestic and overseas buyers and arrivals in the domestic market. Buyers of Jeera are adopting a wait and watch stance, expecting prices to soften further in the near term on the impending arrivals starting next week. Pepper prices will depend on demand from the overseas and domestic market and fresh arrivals pattern in the physical market. Domestic and export demand for soy meal is emerging and leading to price surge. However, rise could be limited tracking weak overseas market. Traders are likely to buy soy oil futures anticipating lower import of soy oil from Argentina due to production shortfall on bad weather condition. Depleting stock level of Mentha and robust demand from local traders as well as exporters will give support to the market. Guar prices are expected to move higher from the current levels as the arrivals will continue to decline with harvests nearing its end, while demand from the overseas market may see an improvement in the coming weeks. The imports of Chana have declined as the quality of produce in Australia is damaged.
 
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SureshBajaj

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#8
MARKET WRAP : 17/01/2011:thumb:


Turmeric wipes out early losses on falling stocks
Pepper falls on sluggish exports
Jeera ends up on lower level buying
Soy oil up on low imports
Chana hits 1- month high
Soybean up on meal exports
Mentha oil gains on fresh buying



Turmeric prices will depend on demand from the domestic and overseas buyers and arrivals in the domestic market. Buyers of Jeera are adopting a wait and watch stance, expecting prices to soften further in the near term on the impending arrivals starting next week. Pepper prices will depend on demand from the overseas and domestic market and fresh arrivals pattern in the physical market. Soybean and Refine soy oil prices are expected to trade slightly higher on account of firm international prices, taking support from the sharp decline in US ending stocks and bullish USDA report. Mustard seed prices is not moving in tandem with soybean futures due to higher production estimates of RM seed this year as compared to last year. Guar prices are expected to move higher from the current levels as the arrivals will continue to decline with harvests nearing its end, while demand from the overseas market may see an improvement in the coming weeks. Weather would be an important factor to be watched for as the final estimates on the Chana crop would mainly depend on the weather conditions.
 
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SureshBajaj

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#9
MARKET WRAP : 18/01/2011:)


Turmeric plunges on production estimates
Pepper falls on supply view
Jeera gains on short covering
Oilseeds, Soy oil rise on demand
Chana reverses gains
Mentha surge on firm demand
Guar hits contract high



Turmeric prices will depend on demand from the domestic and overseas buyers and arrivals in the domestic market. Jeera prices will depend on the demand from the overseas and domestic buyers and growth of the sown Jeera crop particularly in Rajasthan and Gujarat. Pepper prices will depend on demand from the overseas and domestic market and fresh arrivals pattern in the physical market. Soybean prices are expected to trade higher due to bullish USDAs monthly and supply report as sharp decline in US ending stocks and concern of Argentinas dry weather. Mustard seed prices are expected to trade range bound with weak sentiments due to better crop of the RM Seed in 2011. Guar prices are expected to move higher from the current levels as the arrivals will continue to decline with harvests nearing its end, while demand from the overseas market may see an improvement in the coming weeks. Weather would be an important factor to be watched for as the final estimates on the Chana crop would mainly depend on the weather conditions during the crop development period.
 
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SureshBajaj

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#10
19/01/2011:)

Turmeric weakens on sluggish demand
Pepper drops on weak export demand
Jeera falls on profit booking
Chana declines on short selling
Mentha surge on firm demand
Guar hits contract high


Turmeric prices will depend on demand from the domestic and overseas buyers and arrivals in the domestic market. Jeera prices will depend on the demand from the overseas and domestic buyers and growth of the sown Jeera crop particularly in Rajasthan and Gujarat. Pepper prices will depend on demand from the overseas and domestic market and fresh arrivals pattern in the physical market. Soybean prices are expected to trade higher due to bullish USDAs monthly and supply report as sharp decline in US ending stocks and concern of Argentinas dry weather. Mustard seed prices are expected to trade slightly higher due to sharp rise in RM Seed meal exports in the month of December and higher prices of other oilseeds and edible oils. Guar prices are expected to move higher from the current levels as the arrivals will continue to decline with harvests nearing its end, while demand from the overseas market may see an improvement in the coming weeks. Weather would be an important factor to be watched for as the final estimates on the Chana crop would mainly depend on the weather conditions during the crop development period.
 
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