Jeera April contract dropped Rs 101 and settled at Rs 15951 per quintal on tepid overseas enquires and mounting supplies from the new crop. India's jeera exports in April-February fell 39 percent on year to 27,500 tonnes.

The speculators trimmed their positions on the reports of higher acreage in Gujarat and Rajasthan due to good moisture content in the soil which let them conclude a far better crop this year thereby anticipating a higher arrival. In Unjha, a key spot market in Gujarat, jeera dropped -57.1 rupees to end at 15801.1 rupees per 100 kg.

The contract made intraday low of Rs 15868 a kg and high of Rs 16114 a kg. Support for jeera is at 15841 below that could see a test of 15732. Resistance is now seen at 16087 above that could see a resistance of 16224.

Trading Ideas:

Jeera trading range is 15732-16224.

Jeera dropped on tepid overseas enquires and mounting supplies from the new crop

Jeera is having resistance at 16087 and support at 15841 level.

NCDEX accredited warehouses jeera stocks rose by 146 tonnes to 10780 tonnes.

In Unjha, a key spot market in Gujarat, jeera dropped -57.1 rupees to end at 15801.1 rupees per 100 kg.

Ref Soyaoil yesterday traded with the negative node and settled -0.61% down at 618.2 due to profit booking but improved domestic physical market demand limited the downside. At the Indore spot market soyoil edged down by -0.95 rupee to 610.9 rupees 10 kgs. In yesterday's trading session Ref Soyaoil has touched the low of 616.75 after opening at 620, and finally settled at 618.2. For today's session market is looking to take support at 616, a break below could see a test of 613.7 and where as resistance is now likely to be seen at 621.2, a move above could see prices testing 624.2.

Trading Ideas:

Ref Soyaoil trading range is 613.6-624.1.

Ref Soyaoil yesterday traded with the negative node due to profit booking

Ref Soya oil looks to take support at 616 level

Ref Soya oil having resistance at 621.20 level

At the Indore spot market soyoil edged down by -0.95 rupee to 610.9 rupees 10 kgs.

Wheat yesterday traded with the negative node and settled -1.55% down at 1157 due to expectation that the country is estimated to have a record output this crop year. Adequate stocks at the spot markets amid sluggish demand from flour mills also kept pressure on wheat prices. Drought and parched soils in Western Australia--historically the source of up to 40% of national wheat output--could again crimp production this year, reducing the chance of a record Australian crop.

In Delhi wheat prices dropped -7.15 rupee to end at 1217.85 rupees per 10 kg. In yesterday's trading session Wheat has touched the low of 1156 after opening at 1174, and finally settled at 1157. For today's session market is looking to take support at 1149.5, a break below could see a test of 1142.1 and where as resistance is now likely to be seen at 1170.9, a move above could see prices testing 1184.9.

Trading Ideas:

Wheat trading range is 1142.9-1185.7.

Wheat ended weak due to expectation that the country is estimated to have a record output this crop year

Wheat is having resistance at 1170.90 and support at 1149.50 level.

NCDEX accredited warehouses wheat stocks fell by 10 tonnes to 2821 tonnes.

In Delhi wheat prices dropped -7.15 rupee to end at 1217.85 rupees per 10 kg.

Mustardseed yesterday traded with the negative node and settled -0.59% down at 2714 on higher arrivals of rapeseed. The total arrivals of mustard seed increased by 30000 bags from the previous day to 7.70 lakh bags in major mandies. In the Sriganganagar spot market in Rajasthan the price edged up by 37.5 rupee to 2570 rupees per 20 kgs.

In yesterday's trading session Mustardseed has touched the low of 2713 after opening at 2725, and finally settled at 2714. For today's session market is looking to take support at 2707.3, a break below could see a test of 2700.7 and where as resistance is now likely to be seen at 2726.3, a move above could see prices testing 2738.7.

Trading Ideas:

Mustard Seed trading range is 2701-2739.

Mustardseed yesterday traded with the negative node on higher arrivals of rapeseed

Mustardseed looks to take support at 2707 and resistance at 2726.

NCDEX accredited warehouses mustard seed stocks rose by 2869 tonnes to 8129 tonnes.

In the Sriganganagar spot market in Rajasthan the price edged up by 37.5 rupee to 2570 rupees per 20 kgs.

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