Jeera settled down -0.87% at 11335 as pressure seen after high rains in Gujarat adversely affected the Export demand. However with prices having fallen a lot and with Export queries being there, a clearer sky could ensure markets picking up for the commodity in the coming days.  In Mehsana sources reported arrivals at 4000 quintals, down by 1000 quintals as against previous day. In Rajkot arrivals were reported at 1190 quintals, higher by 459 quintals from previous day’s arrivals. In Jodhpur total arrivals are at 10000 quintals, up by 9800 quintals from previous trading day. Steady arrivals and limited demand will keep prices steady in the near term. The market sources suggested that heavy stocks of around 65 lakh bags in local mandies will encourage stockiest selling at every spurt in local mandies. The total stocks in local mandies were almost double of the previous year's level of 35 lakh bags due to record production in the current year. However, weak supplies international market will reward Indian exporters in medium term. All eyes are on status of kharif sowing as weal monsoon may delay the Rabi sowing. Exports of Jeera between April-December of 2013 stood at 96,500 tonne, higher by 89% as against the same period previous year. In Unjha, a key spot market in Gujarat, jeera edged down by -31.25 rupees to end at 11468.75 rupee per 100 kg. Technically market is under fresh selling as market has witnessed gain in open interest by 5.84% to settled at 5004 while prices down -100 rupee, now Jeera is getting support at 11274 and below same could see a test of 11212 level, And resistance is now likely to be seen at 11429, a move above could see prices testing 11522.

Trading Ideas:

Jeera trading range for the day is 11212-11522.

Jeera prices ended with losses as pressure seen after high rains in Gujarat adversely affected the Export demand.

In Mehsana sources reported arrivals at 4000 quintals, down by 1000 quintals as against previous day.

The total stocks in local mandies were almost double of the previous year's level of 35 lakh bags due to record production in the current year.

In Unjha, a key spot market in Gujarat, jeera edged down by -31.25 rupees to end at 11468.75 rupee per 100 kg.