Guarseed and guargum futures will be guided by the monsoon progress and will move in a tight range during the coming week, analysts and traders said. | |
| "Traders are awaiting the arrival of rains in Mumbai, expected by Sunday. Any further stagnation in the monsoon progress would mean a delay in arrival in Rajasthan," said Prerna, analyst, Man Financial Commodities. |
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| However, the India Meteorological Department today said that monsoon would strengthen in the next 2-3 days impacting prices negatively. |
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| Rains hit the Indian coast four days earlier than expected leading to bearish sentiment in anticipation that the monsoon would arrive early in Rajasthan, a major guar producing state. |
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| This would in turn, lead to an early start to the sowing activities of the commodity. |
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| "If rains are on time, then traders expect them to hit Rajasthan by June 20 which means sowing will start soon," said Rajkumar Jain, a Rajasthan-based trader. |
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