Guar, Pulses And Grains Market Watch By Nirmal Bang Securities

Guar, Pulses And Grains Market Watch By Nirmal Bang Securities   Guar complex outperformed all agro commodities as bullish fundamentals seem to be working for the complex. Chana prices were up on bargain hunting. Prices for future wheat is fell down cause of astonishing rain that is making all believes stronger for better crop of wheat in this coming session.

Government have initiated from 4th October to distribute wheat and pulses through PDS shops comparatively at lower rate to common people. While atta will be available at Rs 9 per kg, chana daal will cost only Rs 28.

India's guar seed production is likely to drop sharply to 25 lakh bags as compared to last year's 80 lakh bags this is one of the major factors for bullish trend in Guar seed. After last week's sharp rise you may see some profit taking but long term trend remains bullish.

The spread between Chana Spot price (Delhi) and Yellow Pea Spot price (Kanpur) was Rs. 520/quintal, up from previous day on account of increase in Chana Spot price.

World's largest wheat exporter Australia ended the AWB's monopoly due to illegal payment to former regime of Suddam Hussein which witnessed to increase the prices of its most popular Australian premium white wheat (APW). That can result to decrease the world wide supply of wheat.

Price for chana might go up on account of festive demand and as excess rains can damage the kharif crop, we will recommend buying on dips, where wheat prices might move in same range and catch some downside movement we will recommend to selling on rise. Outlook for Guarseed and Guargum remain bullish we recommend to buy guar complex at decline of percent.