Jeera September contract dropped Rs 102 and settled at Rs 14680 a kg on hopes of higher sowing in the upcoming season due to good moisture in the soil, thanks to monsoon rains and weak export demand for overpriced Indian variety. Sowing is expected to be higher this year because moisture content in the soil is good due to sufficient rains in Gujarat. In Unjha, a key spot market in Gujarat, jeera dropped -33.35 rupees to end at 14407.15 rupees per 100 kg. The contract made intraday low of Rs 14650 a kg and high of Rs 14855 a kg. Support for jeera is at 14602 below that could see a test of 14523. Resistance is now seen at 14807 above that could see a resistance of 14933.

Trading Ideas:

Jeera trading range is 14545-14955.

Jeera ended lower on hopes of higher sowing in the upcoming season

Support for the jeera is at 14600 and resistance is at 14810.

NCDEX accredited warehouses jeera stocks rose 117 tonnes to 6485 tonnes.

In Unjha, a key spot market in Gujarat, jeera dropped 0 rupees to end at 0 rupees per 100 kg.