Jeera settled down -0.13% at 13730 due to higher stocks, expectations of better sowing on good rains and higher-than-expected supplies. Export demand is lower-than-expected and stocks are high. Supplies still have been good despite the lean season. Gujarat, the top jeera producer in India, has received above average rainfall so far this monsoon. Jeera is a winter crop sown from October. Farmers depend on rains to moisten the land for sowing. In Unjha mandi ~8000 bags arrival was seen and demand remained at ~8500 bags. However, good demand was being witnessed in Jeera in spot market. Prices are expected to hold on amid good overseas demand and falling arrivals. Heavy rainfall has been witnessed in few regions Gujarat though no major impact of the same has been seen so far. Good demand is being witnessed in Jeera. Prices are expected to hold on amid good overseas demand and falling arrivals. Heavy rainfall has been witnessed in few regions Gujarat though no major impact of the same has been seen so far. The Cumin crop in Iran is failure due to bad weather and thus would support the Indian cumin seed market in long term. Total Jeera production is seen around 34-35 lakh bags in the current year, up almost 1-2 lakh bags from the last year. In Unjha, a key spot market in Gujarat, jeera edged down by -5 rupees to end at 13770 rupee per 100 kg. Now Jeera is getting support at 13657 and below same could see a test of 13583 level, And resistance is now likely to be seen at 13817, a move above could see prices testing 13903.

Trading Ideas:

Jeera trading range for the day is 4568-4568.

Jeera fell due to higher stocks, expectations of better sowing on good rains and higher-than-expected supplies.

Export demand is lower-than-expected and stocks are high. Supplies still have been good despite the lean season.

NCDEX accredited warehouses jeera stocks dropped by 399 tonnes to 3629 tonnes.

In Unjha, a key spot market in Gujarat, jeera edged down by -5 rupees to end at 13770 rupee per 100 kg.