The month of June saw a bearish trend for most Agri counters as above normal rains of 19% kept sowing aspects on the higher side. The total sown area as on 26th June, as per reports received from States, stands at 165.62 lakh hectare as compared to 134.18 lakh hectare at this time last year.
· However, prospects of adverse Monsoon in July could keep the downtrend limited as prices seem to find some strong support at these levels. Any adverse report on the weather front could significantly perk up prices.
· Demand starts rising in the mandis at these lower levels. A firm Dollar vs Rupee could help exporters further.