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DAILY AGRI COMMODITY REPORT
23 September 2016
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Market Views
2
MONT
HOPEN HIGH LOW
CLOS
E % CHG VOL
MONT
HOPEN HIGH LOW
CLOS
E % CHG VOL
TURMERIC
SEP 6826 6900 6792 6856 0.47 3930
INTRADAY
LEVELS
SUPPORTSUPP.
1
6798
SUPP. 2
6741
PIVOT
6849
Turmeric short term
trend is bearish and May
continue in coming days.
RESISTA
NCE
RES. 1
6906
RES. 2
6957
CORIANDER
SEP 7530 7574 7460 7462 -1.24 3130
INTRADAY
LEVELS
SUPPORT SUPP.1
7423
SUPP. 2
7384
PIVOT
7498
Coriander short term
trend is bearish and May
continue in coming days.RESISTA
NCE
RES. 1
7537
RES. 2
7612
GUARGUM
OCT 7240 7310 7110 7120 -2.20 29914
INTRADAY
LEVELS
SUPPORT SUPP. 1
7050
SUPP. 2
6980
PIVOT
7180
Guargum short term
trend is bearish and May
continue in coming days.RESISTA
NCE
RES. 1
7250
RES. 2
7380
CASTORSEED
- - - - - - -
INTRADAY
LEVELS
SUPPORT SUPP. 1
-
SUPP. 2
-
PIVOT
--
RESISTA
NCE
RES. 1
-
RES. 2
-
Most Active Contract
3
NCDEX INDICES
Index ValuePre.
Close
%
Change
Castorseed - - -
Chana - - -
Coriander 7462 7460 -1.24
GUARGUM 7120 7280 -2.2
Jeera 17325 17355 -0.47
Mustard seed 4697 4708 -0.23
Soybean 3260 3252 0.25
Turmeric 6856 6824 0.47
TOP GAINERS
Symbol Expiry Date Current Price Change Change %
REF SOYA OIL 20-10-2016 670.50 5.00 0.75%
WHEAT 20-10-2016 1748.00 11.00 0.63%
SOY BEAN 20-10-2016 3260.00 9.00 0.28%
SUGAR M GRADE 20-10-2016 3510.00 7.00 0.20%
TOP LOSERS
Symbol Expiry Date Current Price Change Change %
GUAR SEED 10 MT 20-10-2016 3661.00 -59.00 -1.59%
GUAR GUM 20-10-2016 7120.00 -110.00 -1.52%
BARLEY 20-10-2016 1579.50 -14.50 -0.91%
Commodities In News
4
ECONOMIC NEWS
India's foodgrain production is estimated to rise by 9 per cent to an all-
time high of 135.03 million tonnes in the kharif season (summer sown) of
2016-17 on record output of rice and pulses following a good
monsoon. Foodgrain production stood at 124.01 million tonnes (MT) in the
kharif season of 2015-16 crop year (July-June). Higher output of pulses
will help soften retail prices, which have remained a major concern. Higher
output of pulses will help soften retail prices, which have remained a major
concern. The country's overall foodgrain production had fallen to around
252 MT level in each of the previous two full crop years (including kharif
and rabi) due to two consecutive years of drought. Agriculture Minister
Radha Mohan Singh today released the first advance estimate of foodgrain
output for the current 2016-17 crop year. Harvesting of kharif crops has
started. According to the data, rice production is estimated at an all-time
high 93.88 MT in the kharif season as against 91.31 MT in the last kharif.
State private sugar mills want govt to bail them out of financial distress,
ask govt to buy power at remunerative rates
About 30 private sugar mills in Karnataka have approached the
government offering to sell 500 MW of power. The offer is laced with a
veiled threat. A few of them have conveyed that they may find it difficult
to buy sugar cane from growers if the government does not support them
by buying power at a remunerative rate, ET learnt from multiple sources.
Sugar Mills Association's energy committee chairman Ravindra Singh
Singhvi said: "We are requesting the government to buy power from us on
a long-term basis through power purchase agreements (PPA). We are
hopeful the government will consider it". Many of Karnataka's sugar mills
are owned by political bigwigs be longing to all parties, and close ranks
when it comes to business interests. Sugar prices, meanwhile, have
remained firm, and experts believe the trend will continue for another two
years.
At Unjha market in Mehsana , Jeera loose is trading weak at Rs.
16800 per quintal, lower by 1.18 per cent from previous trading day.
Arrivals were reported at 1200 quintals, up by 700 quintals from
previous trading day. Jeera(Cumin Seed) NCDEX is offered weak at
Rs. 18000 per quintal, lower by 0.55 per cent as compared to previous
day. Jeera(Cumin Seed) Machine Cut at Unjha market is quoted weak
at Rs. 18700 per quintal, down by 0.53 per cent from previous day's
price level. The contract for November delivery was trading at Rs
17600.00, up by 0.49% or Rs 85.00 from its previous closing of Rs
17515.00. The open interest of the contract stood at 3372.00 lots on
NCDEX.
Soybean, meal and rapeseed-mustard rebound in anticipation of
fresh new crop deals, especially in bean and meal, after steep fall in
recent weeks. The soybean harvesting has commenced in Madhya
Pradesh and Maharashtra, but are slowed due to rains during the week
in review. Overall, the domestic soybean crop is in good health and it is
mostly under pod formation or maturity stage and prolonged or heavy
rains over the key growing belts will hurt the quality of the bean.
Forecast of further rains in near-term is worrying the cultivators.
Besides, forecast of record US soybean production is exerting pressure
in the international bean and meal, the CBOT soybean prices recovered
initially during the week but later fell on the bearish supply outlook.
Turmeric futures traded higher on NCDEX on forecast of heavy
rains in turmeric growing areas. Further, expectation of pickup in
demand for old crops ahead of festival season also added support to
turmeric prices’ uptrend. The contract for October delivery was trading
at Rs 6850.00, up by 0.38% or Rs 26.00 from its previous closing of Rs
6824.00. The open interest of the contract stood at 15440.00 lots. The
contract for November delivery was trading at Rs 6958.00, up by
0.17% or Rs 12.00 from its previous closing of Rs 6946.00. The open
interest of the contract stood at 6505.00 lots on NCDEX.
Technical Outlook
5
BUY CORIANDER OCT ABOVE 7520 TARGET 7565 7665 SL
BELOW 7455
BUY GUARGUM OCT ABOVE 7300 TARGET 7350 7420 SL
BELOW 7240
BUY TURMERIC OCT ABOVE 6920 TARGET 6964 7024 SL
BELOW 6860
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