Agri markets traded with very high volatility as the initial massive fall in rates was followed by moderate recovery during the 2nd half. With prices having fallen a lot over last few days, demand has started rising in the mandis at these lower levels. However with uncertainty prevailing over the Monsoon factor, short term high volatility is likely to continue.
· Improved Monsoon reports are leading to reports of better sowing for the kharif crops – leading to putting pressure on the market sentiments.
Short to medium term trend would continue to be determined by the Monsoon progress towards North-West India and with reports of rains being there in many parts of India, short term trend looks slight down