Jeera prices ended with small losses on lower export demand. Moreover, prediction of a weak monsoon in the coming weeks could affect the sowing prospects mainly influenced the price. Ample supplies on the back of record output and huge carryover stocks capped the gain. Sources expect exports to rise in the coming months amidst reports of lower production in Turkey and geopolitical crisis Syria. Comfortable supplies on the back of record output along with good carryover stocks amid weak demand may limit prices. Sources are expecting that exports of the commodity should rise in coming months amidst reports of lower production in Turkey and geopolitical crisis Syria. In Delhi total arrivals are at
11000 quintals, higher by 1000 quintals from previous trading day.

In Mehsana total arrivals are at 11000 quintals, up by 1000 quintals from previous day’s arrivals. In Rajkot arrivals are at 600 quintals, higher by 120 quintals from previous trading day. While the jeera production has been good in the current year, prediction of a weak monsoon in the coming weeks could affect the sowing prospects. The jeera crop is estimated to be between 3.5 to 4 lakh tonne. With concerns on the advance of monsoon and the impact of El Nino and high demand, the prices could move in the range. In Unjha, a key spot market in Gujarat, jeera edged down by -48.7 rupees to end at 11678.35 rupee per 100 kg.

Technically market is under fresh selling as market has witnessed gain in open interest by 0.3% to settled at 6909 while prices down -10 rupee, now Jeera is getting support at 11652 and below same could see a test of 11598 level, And resistance is now likely to be seen at 11772, a move above could see prices testing 11838.

Trading Ideas:

Jeera trading range for the day is 11598-11838.

Jeera prices ended with small losses on lower export demand.

Moreover, prediction of a weak monsoon in the coming weeks could affect the sowing prospects mainly influenced the prices.

NCDEX accredited warehouses jeera stocks dropped by 113 tonnes to 974 tonnes.

In Unjha, a key spot market in Gujarat, jeera edged down by -48.7 rupees to end at 11678.35 rupee per 100 kg.