30-Aug-2018 Agri Commodity Update
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Agri Commodity Update Market Views MONTH
OPEN
HIGH
LOW
CLOSE
% CHG
VOL
MONTH
OPEN
HIGH
LOW
CORIANDER
AUG
4626
4643
4561
SUPPORT
SUPP.1
SUPP. 2
4569
4524
4615
4606 RESISTANCE
RES. 1
RES. 2
4651
4688
-0.13
7440
Coriander short term trend is bearish and may continue in coming days.
-
-
-
-
SUPPORT
SUPP. 1
SUPP. 2
-
-
6750
6866
6730
SUPPORT
SUPP. 1
SUPP. 2
6731
6662
6800
6798 RESISTANCE
RES. 1
RES. 2
6867
6934
-
-
-
PIVOT
LEVELS
RESISTANC E
RES. 1
RES. 2
-
-
-
-
GUARGUM 5MT
PIVOT
INTRADAY LEVELS
VOL
INTRADAY
TURMERIC
AUG
% CHG
CASTORSEED
PIVOT
INTRADAY LEVELS
CLOSE
-0.15
2005
Turmeric short term trend is bearish and may continue in coming days.
AUG
8888
9059
8780
SUPPORT
SUPP. 1
SUPP. 2
8777
8639
8915
PIVOT
INTRADAY LEVELS
8918 RESISTANCE
RES. 1
RES. 2
9056
9197
1.35
31640
Guargum Short term trend is bearish and may continue in coming days.
Agri Commodity Update Most Active Contract TOP GAINERS Symbol
Expiry Date
Current Price
Change
NCDEX INDICES
Change %
MAIZE FEED/INDUSTRIAL GRADE
19-09-2018
1365.00
14.00
1.04%
Index
GUAR GUM 5 MT
16-10-2018
9005.00
90.00
1.01%
Castorseed
4593
4604
-0.24
GUAR SEED 10 MT
16-10-2018
4197.00
21.50
0.51%
Chana
3913
3967
-1.36
WHEAT
19-09-2018
1996.00
7.00
0.35%
Coriander
4609
4615
-0.13
Guargum5MT
8880
8785
1.08
Value
Pre. Close
% Change
TOP LOSERS Symbol
Expiry Date
Current Price
Change
Change %
COTTON SEED OIL CAKE AKOLA
19-09-2018
1628.00
-31.50
-1.90%
Jeera
19340
19165
0.91
CHANA
19-09-2018
3911.00
-56.00
-1.41%
Musterseed
3955
4000
-1.13
RAPESEED-MUSTARD SEED
19-09-2018
3963.00
-37.00
-0.93%
Soybean
3190
3182
0.25
REF SOYA OIL
19-09-2018
728.00
-2.70
-0.37%
Turmeric
6790
6800
-0.15
Agri Commodity Update Commodities In News Production and exports of Palm Oil from Indonesia, the world’s largest producer of the vegetable oil, rose in July from a month earlier, said a Reuters survey of two industry groups and a state palm oil research firm. Palm oil production is expected to have reached 3.897 million tonnes in July from 3.45 million tonnes in June, according to the survey. Exports of palm oil, widely used in variety of food and cleaning products, rose to 2.887 million tonnes from 2.48 million tonnes in June, the survey showed. Survey respondents said they see healthy overseas demand for palm last month, such as from top buyer India. Soybean production in India is set to jump about 20% to over 10 million tonnes in the 2018/2019 crop year that starts in October, industry body Solvent Extractors' Association of India (SEA) said. Higher production in the world's top importer of edible oils could curb its appetite for cargoes from overseas, potentially dragging on international soybean prices. "(We are) looking at higher acreage and satisfactory rain so far in major soybean growing areas such as Madhya Pradesh and Maharashtra," a top official of Solvent Extractors' Association of India (SEA) said. "The initial estimate (for 2018/19) is 10-plus million metric tonnes," the official said. India would likely churn out 8.3 million tonnes of soybeans in the 2017/2018 crop year that ends on September 30, the association said. India's Cotton production is likely to decline by 3-4 per cent this year to about 350 lakh bales following deficit rainfall, decline in acreage and the outbreak of the pink bollworm infestation on crops, the Cotton Association of India (CAI) said in a report. “Major cotton growing States are facing issues, including deficit rainfall and shifting away from cotton to other crops, resulting in a decline in acreage and the outbreak of the pink bollworm infestation. This is likely to affect cotton production by 3-4 per cent this year to 350 lakh bales,” CAI said.
ECONOMIC NEWS
The Maharashtra government plans to soon sign a memorandum of understanding (MoU) with Bengaluru’s Indian Institute of Science (IISc) to use drone technology developed by its aerospace engineers for estimating area, yield and health of soyabean and cotton. Although India is among the top producers of several agricultural commodities, it continues to have grossly inaccurate production estimates. Maharashtra, the second largest producer of cotton, soyabean and sugarcane in the country, has often missed its production and yield estimates. Accurate data is also required to compensate farmers for crop losses caused by natural calamities and for settlement of insurance claims. In the case of sugarcane, production estimates have gone wrong time and again. Despite use of satellites, the sugar industry estimated 2017-18 sugar production at 251 lakh tonnes while the actual production was 28.5% higher at 322.5 lakh tonnes. In the absence of reliable government data, vested interests are known to manipulate production and storage estimates of commodities such as cotton, soyabean and pulses. While the central government set up the Mahalanobis National Crop Forecast Centre in 2012 to use state of the art technologies developed by the Isro, accurate data continues to be elusive.
The Maharashtra government's revised farm loan waiver norms, which will increase the number of beneficiaries, will cost the state an additional Rs 500 crore, an official said today. The state government has already spent Rs 15,882 crore for the implementation of its 'Chhatrapati Shivaji Maharaj Shetkari Sanman Yojana', designed for crop loan waiver, which was announced in June last year. The government had then pegged the total loan waiver amount at around Rs 34,000 crore. Around 58 lakh farmers are currently covered under the scheme, the state government said during the Maharashtra Assembly's monsoon session held last month.
Agri Commodity Update Technical Outlook
SELL CORIANDER SEP BELOW 4560 TARGET 4540/4520/4500 SL 4690
BUY GUARGUM5 OCT ABOVE 9100 TARGET 9140/9180/9220 SL 9050
BUY TURMERIC SEP ABOVE 6850 TARGET 6880/6910/6940 SL 6810
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