Buy sugar, soybean, coriander on dip: Sharekhan

Sharekhan has come out with its report on agri commodities. According to the research firm, one can buy sugar, soybean and coriander on dips for short-term. Wheat and maize are trading near or on MSP. Market participants are expecting the re-launch of guar contracts at NCDEX platform.

• Both sugar and gur witnessed flat sentiment.
• Global sugar supplies will outpace demand by about 11 million metric tons for calendar year 2013, with exports exceeding imports by more than 4 million tons according to Sucden. The sugar cane crop in Brazil's center south, the country's main producing region, will climb to 589 million tons in 2013-14 from 533 million tons and sugar output will increase to 35.8 million tons from 34.1 million tons. Brazil's exports of ethanol, made from cane, may climb 5 percent.In India, the world's second-biggest producer of sugar, supply and demand are seen more in balance in 2013-14 after a surplus of about 2.5 million tons in 2012-13. Thailand's production is seen at 9.5 million to 10 million tons, down from 10.2 million tons
• Brazil has exported 1.981 million tons of sugar in March 2013 which is up by almost double. Higher sugar production than consumption and smooth movement of sugar at ports led the sugar exports increase from Brazilian ports.
• It is notable that Brazil has exported total 27.20 million tons of sugar this year till March which was 25.11 million tons, raw value, last year same period.

• Soybeans seed remain firm .While, mustard remain flat to weak on continuous arrivals of the new crop.
• Farmers are not willing to sell soybean at lower prices and Indore domestic market witnessed strike on this issue.
• Sown area for Rabi oilseed stood at 91.98 lakh hectares as on 28 March 2013 up 0.18 % compared to corresponding period last year - Ministry of Agriculture.
• South Korea's Major Feedmill Group (MFG) and Feed Leaders' Committee (FLC) purchased a total 110,000 tonnes of soymeal all likely to be sourced from South America in separate deals, European traders said.
• South Africa Soybean, Sunflower-Seed Output to Rise: USDA
• Brazil Soybean Crop Output in the year starting Feb. 1 Seen rising to 85MT in 2013 from 82mt estimated a year earlier and Exports will rise to 40mt from 38mt.
• Argentina 2012-2013 Soybean Crop Forecast lowered to 48.5 mt as compared with 51.5 mt expected in report released on March 8.

• Coriander witnessed weak tone on profit-booking.
• Coriander Badami loose new quoted at Rs. 6,000 per quintal, eagle loose at Rs.6,300 per quintal and new scooter variety quoted at Rs. 6,800 per quintal in Kota.
• There are some crop damaged reported in Rajasthan and Madhya Pradesh region due to heavy rainfall during the ongoing month.
• Coriander badami loose new quoted at Rs5,800 per quintal, eagle loose at Rs6,200 per quintal and new scooter variety quoted at Rs6,400 per quintal in Ramganj. The prices of badami variety remained steady due to higher arrivals.

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