Agri Commodities Preview: Expect Sideways Movement In Jeera Futures

A sideways pattern is seen extending in Jeera futures. Some demand has been emerging in Jeera this week as 16 month low Indian Rupee is keeping the export hopes buoyant. However, major gains are unlikely to steady supplies. The total arrivals in Unjha were 18000 bags – lingering around the recent range. The benchmark NCDEX Jeera futures for June ended at Rs 15985 per quintal, down 0.60% after testing highs above Rs 16200 mark- their one month high. Spot Jeera gained half a percent to Rs 16081 per quintal yesterday.