After showing a slowdown monsoon has once again gained momentum. On Monday, about 105 mm of rain was recorded across the country, 45 per cent above normal.
According to the weather department at Monsoon worry still remains in many areas. There are many areas of the country, which have suffered 32 per cent less rainfall this year. June-September 647 mm rainfall across the country by 12 per cent, which is lower than normal.
The lack of rain over Saurashtra, Kutch, Gujarat and Punjab have been maximum this year. Cotton sowing was low this year due to the low rainfall in Kutch
In Rajasthan and Punjab too, the sowing of cotton is reduced. However, the cultivation of cotton in Andhra Pradesh has 20 per cent increased.
Farmers in Rajasthan and Punjab have increased their attention on guar farmers. Sowing of soybean in Madhya Pradesh and Maharashtra have been increased. Andhra Pradesh have sown tur for Rs 4.25 lakh hectares .
Meteorological Department Director, Laxman Singh Rathore says that from August to September the monsoon has improved. More rain is expected in the coming days. Monsoon estimates can touch the target of 92 per cent.Anand Rathi Commodities, senior vice president, says Kishore Narne terms of revenue is expected to rise in cotton and soybean cake. The maize, turmeric and wheat may appear in the lower level.
Commodity Recommendations:
1. MCX copper can be bought on dips to Rs 428 with a stop loss of Rs 425 and a target of around Rs 433.2. On intraday basis, gold could be sold at around Rs 31,360 with a stop loss of Rs 31,460 for a target of Rs 31,160
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