Guar seed prices recovered more than 0.5% on account of short covering triggered with bargain buying at lower level. Huge carryover stocks of guar seed amid surging supply pressure of fresh arrivals are likely to keep prices under pressure. Supply has been improving gradually in line with easing of liquidity situation at physical market whereas ongoing sowing of Rabi crops is also prompting farmers to bring their arrivals to ful fill their immediate requirement of cash.
weaker production outlook for year 2016- 17 amid better export outlook may restrict the major losses. Guar seed trade ended the day at Rs. 3226 per quintal which is approx 2.32% up against its previous close.
@We recommend buy Guar seed futures during today’s trading session.