Jeera on NCDEX settled down by -1.06% at 16740 amid hopes of higher sowing in coming season and comfortable stocks. Further pressure seen due to anticipation of a rise in arrivals in coming weeks before the start of new season in October. Parched land of Gujarat got good rains recently and soil moisture along with higher prices will motivate farmers to grow jeera on higher area in the ensuing season.
Trading Ideas:
* Jeera trading range for the day is 16515-17115.
* Jeera prices dropped amid hopes of higher sowing in coming season and comfortable stocks.
* Further pressure seen due to anticipation of a rise in arrivals in coming weeks before the start of new season in October.
* As per data arrivals of jeera in Gujarat is about 22,200 tn compared to 12,000 tn last year same period.
* In Unjha, a key spot market in Gujarat, jeera edged down by -93.85 Rupees to end at 16927.6 Rupees per 100 kg.
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