Chana futures plunged during yesterday's trading on huge arrivals in the Spot market. Guar futures showed some firmness during yesterday's trading session and ended 2.5-3% higher than previous day's closing backed by strong fundamentals.

Chana arrivals are 12000 bags at Delhi's Lawrence Road Mandi. The Spot price is expected to open at Rs. 2265-70/quintal marginally down from yesterday's closing Spot price. The arrivals of 3000 bags were from Rajasthan and the remaining
9000 bags were from Madhya Pradesh.

The spread between Chana Spot price (Delhi) and Yellow Pea Spot price (Kanpur) was Rs. 540, down by Rs. 40/quintal on account of decrease in Chana Spot price.

Demand for Chana is expected to remain firm from millers and traders end on account of ongoing and forthcoming festive and marriage season, good supply is expected from Bikaner market due to stock limit clearance.

Demand for U. S. grain has declined as global stockpiles rise. As of Sept. 17, overseas buyers committed to buy 10.5 million metric tons (386 million bushels) of U. S. wheat in the marketing year that began June 1, a 36 percent drop from a year earlier, Department of Agriculture data

Expectation of improvement in export of guargum has resulted in sharp upside in Guar Complex. Much needed momentum was witnessed yesterday as fundamentals of commodity was bullish markets just required a trigger.

Chana futures may continue to remain under pressure on account good supply during the day but fundamentals for long term is intact i. e, bullish. Wheat futures are expected to trade firm and we recommend buying on dips for this counter. Guar complex looks firm on account of strong fundamentals, we recommend buying at dips for this complex.