Commodity Outlook for Jeera by Kedia Commodity

Jeera September contract dropped Rs 518 and settled at Rs 13644 a kg on expectations of higher sowing in the ongoing monsoon season. In addition, weak exports also weighed on the jeera prices. Meanwhile, jeera exports in April-July period of 2010 fell 19 per cent to 13,500 tonnes from the same period a year ago.

In Unjha, a key spot market in Gujarat, jeera dropped -178.55 rupees to end at 14160.75 rupees per 100 kg. The contract made intraday low of Rs 13595 a kg and high of Rs 14229 a kg. Support for jeera is at 13416 below that could see a test of 13189. Resistance is now seen at 14050 above that could see a resistance of 14457. Jeera trading range is 13179-14447.

Jeera ended lower on expectations of higher sowing

Support for the jeera is at 13420 and resistance is at 13800.

NCDEX accredited warehouses jeera stocks fell 165 tonnes to 6290 tonnes.

JEERA CORRECTED SUPPORT IS EXPECTED AT 13900 LVL WHERE BUYING WILL EMERGE.

In Unjha, a key spot market in Gujarat, jeera dropped -178.55 rupees to end at 14160.75 rupees per 100 kg.