Jeera settled flat as pressure seen amid adequate stocks position following higher supplies from producing regions. According to Dept of Commerce, the exports of Jeera in the first two month of 2016-17 increased by more than 82.5% at 33,908 tonnes compared to last year same time. As per the trade sources, India's jeera exports rose nearly 25% to around 50,000 tonnes in Apr-Jul from 40,000 tn in the year-ago period due to good demand from China and Bangladesh. China imported 1,500-1,700 tn jeera in last 15 days. As per 4thadvance estimate of Gujarat State for 2015-16, production is pegged at 2.38 lt compared to 1.97 lt in 2014-15. In 2013-14, production was 3.46 lt. There is good demand from China and other countries and may support the prices. In the next few months, the prices will depend on export demand. At Jodhpur(Raj.) market in Jodhpur traders reported arrivals at 150 quintals, higher by 120 quintals as compared to previous day. At Merta City(Raj.) market in Nagaur(Raj.), estimated market supply was at 200 quintals, up by 50 quintals from previous day's arrivals. At Nagaur(Raj.) market in Nagaur, estimated market supply was at 200 quintals, higher by 100 quintals from previous trading day. At New Delhi market total arrivals are at 1000 quintals, unchanged as compared to previous day's arrival. Technically market is under long liquidation as market has witnessed drop in open interest by -3.57% to settled at 16713, now Jeera is getting support at 17765 and below same could see a test of 17670 level, And resistance is now likely to be seen at 17995, a move above could see prices testing 18130.

Trading Ideas:

Jeera trading range for the day is 17670-18130.

Jeera settled flat as pressure seen amid adequate stocks position following higher supplies from producing regions.

As per the trade sources, India's jeera exports rose nearly 25% to around 50,000 tonnes in Apr-Jul from 40,000 tn in the year-ago period.

NCDEX accredited warehouses jeera stocks dropped by 42 tonnes to 5622 tonnes.

In Unjha, a key spot market in Gujarat, jeera remains unchanged at0 rupees to end at 18900 rupee per 100 kg.