AGRI REPORT BY CAPITAL STARS-24 Sep 2014

TURMERIC

Turmeric futures rose on short-covering, taking cue from the start of the annual monsoon rains from the South Asian country. The key October contract closed up 0.4 percent at 5,946 rupees per 100 kg.

SOYABEAN

Indian soyoil futures recovered on Tuesday due to short-covering, taking cue from sentiment in rival palm oil futures. Malaysian palm oil futures bounced back after hitting a more than one-week low in the previous session, as a recovery in overseas soy markets and a weaker ringgit lifted the tropical oil. Soybean futures reflected the sentiment of soy oil, while rapeseed futures ended up on vanishing old stocks in spots. The key November soybean contract was up 0.8

percent at 2,996 rupees per 100 kg, while the October rapeseed contract finished up 1.2 percent at 3,648 rupees per 100 kg.

CHANA

Chana, or chickpea, futures ended up on new buying interest arising on news of the withdrawal of monsoon rains from some parts of the western region. The start of this year's monsoon retreat has a bearish impact as the late sown varieties would have gained had the withdrawal been delayed further.

 JEERA

Jeera, or cumin seed, futures recovered as the monsoon rains in top producing Gujarat state have almost vanished, and boosted output prospects for the maturing crop. The key October contract closed up 0.2 percent at 10,640 rupees per 100 kg.

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