Agri Commodities Review: Sentiments Weak, Guar Tumbles

There is a possible spurt in the offing for the Kharif plantings on an expected advance in monsoon following the brief hiatus in last few days. Satellite maps are indicating an influx of rain clouds into the interior of South Peninsula from the Bay of Bengal across the Andhra Pradesh-Odisha coasts. This could bring in rainfall in a broad area covering Andhra Pradesh, Telangana, Maharashtra, Madhya Pradesh, Chhattisgarh, and Odisha. Crops like oilseeds, pulses and grains could see plenty of action in coming days if Kharif pulses of these commodities picks up.

In fact, the signs of a moderation in agri counters were visible today in the market. Chana dropped, extending the recent losses amid sustained selling pressure.

Other commodities like Castor, Jeera and Maize also eased.

Major movement was seen Guar complex. Guarseed and Guargum fell 1% each on thin demand.

Soybeans also fell more than a percent for the benchmark delivery.