03-Sep-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
4570
4684
4570
SUPPORT
SUPP.1
SUPP. 2
4546
4501
4592
4615 RESISTANCE
RES. 1
RES. 2
4660
4729
2.00
6270
Coriander short term trend is bearish and may continue in coming days.
-
-
-
-
SUPPORT
SUPP. 1
SUPP. 2
-
-
6820
6842
6780
SUPPORT
SUPP. 1
SUPP. 2
6774
6746
6802
6808 RESISTANCE
RES. 1
RES. 2
6836
6870
-
-
-
PIVOT
LEVELS
RESISTANC E
RES. 1
RES. 2
-
-
-
-
GUARGUM 5MT
PIVOT
INTRADAY LEVELS
VOL
INTRADAY
TURMERIC
AUG
% CHG
CASTORSEED
PIVOT
INTRADAY LEVELS
CLOSE
0.03
2250
Turmeric short term trend is bearish and may continue in coming days.
AUG
9250
9546
9250
SUPPORT
SUPP. 1
SUPP. 2
9104
9029
9179
PIVOT
INTRADAY LEVELS
9325 RESISTANCE
RES. 1
RES. 2
9400
9621
3.60
35535
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 %
GUAR GUM 5 MT
16-10-2018
9546.00
367.00
4.00%
Index
GUAR SEED 10 MT
16-10-2018
4420.00
154.00
3.61%
Castorseed
4646
4613
0.72
CORIANDER
19-09-2018
4679.00
87.00
1.89%
Chana
3847
3891
-1.13
CASTOR SEED
19-09-2018
4662.00
49.00
1.06%
Coriander
4684
4592
2.00
Guargum5MT
8880
8785
1.08
Value
Pre. Close
% Change
TOP LOSERS Symbol
Expiry Date
Current Price
Change
Change %
JEERA
19-09-2018
19230.00
-110.00
-0.57%
Jeera
19165
19340
-0.90
CHANA
19-09-2018
3870.00
-21.00
-0.54%
Musterseed
3990
3983
0.18
MAIZE FEED/INDUSTRIAL GRADE
19-09-2018
1362.00
-3.00
-0.22%
Soybean
3225
3226
-0.03
SOY BEAN
16-10-2018
3220.00
-6.00
-0.19%
Turmeric
6804
6802
0.03
Agri Commodity Update Commodities In News The Centre will procure up to 23,250 tonne of green gram from Karnataka at minimum support price under the Price Support Scheme (PSS) to protect farmers from falling prices, a senior Agriculture Ministry official said. Pulses growers in the state are in distress as green gram prices have fallen below the minimum support price (MSP) of Rs 6,975 per quintal fixed for the 2018-19 crop year (July-June). Central nodal agencies FCI, Nafed, NCCF and SFAC will undertake the procurement along with state-level agencies for a period of 90 days from the day of approval, the official said. The import restriction on all varieties of peas would continue till September 30, the Directorate General of Foreign Trade (DGFT) said on Thursday, a day after the withdrawal of restriction on import of peas. The one-day-old notification of the DGFT was reversed following an order of the Madras High Court, which upheld the DGFT notification dated April 25 imposing a restriction on peas import till September 30, 2018. The DGFT's April notification was challenged by some traders in Madras High Court claiming the notification was invalid.
ECONOMIC NEWS
Cotton on MCX settled down by -0.3% at 22920 amid good condition of cotton in main cotton growing states. However, lower production prospects and delay in harvesting in Gujarat due to erratic rains. The USDA’s FAS has projected India's cotton production to decline 1.7% on year to 365 lakh bales (1 bale = 170 kg) due to delay in monsoon rains and fall in acreage. Cotton acreage till last week was down by 2.4% on year to 116.8 lakh hac compared to 119.7 lakh ha last year, according to the farm ministry data. As per Commerce ministry data, cotton exports in June surged by 27.6% to 5.7 lakh bales as compared to last year. India is likely to export 70 lakh bales of cotton in 2018/19, down 30% from an earlier estimate due to low crops. India has so far contracted to export around 6 lakh bales to China. Standing cotton crop in north India - Haryana, Punjab and Rajasthan - is in good condition and pest free as of now except few cases of white fly in Abohar district of Punjab, said a senior official. As of now cotton crop conditions in all the three north Indian states is good and free from pest or any other disease.
India's Rice export prices plunched as the decline in rupee failed to stoke fresh demand for the Indian variety this week. In top exporter India, rates for 5 per cent broken parboiled rice fell by $3 to $386-$390 per tonne this week. TheIndian rupee has fallen over 10 per cent in 2018, hitting a record low on Thursday, increasing exporter’s margin from overseas sales. "Right now, demand is weak. Even after the recent price fall, African buyers are not active in the market," trade sources said. India's Rice exports in AprilJuly edged up 1 per cent from a year ago to 4.15 million tonnes on upbeat demand from Senegal, Benin and Iran, a government body said.
Ref.Soyaoil on NCDEX settled up by 0.56% at 732.15 tracking firmness in spot demand and due to firm soybean prices despite of higher stock level in the country for edible oil. The edible prices have been under pressure due to lower tariff value and higher stock positions in the country. According to an official notification, government cut the base import prices of all edible oils by $1-$8 per tn. For the second fortnight of August, base import price of crude soyoil has been slashed to $717 per tn from $723 per tn. Higher duty and depreciation in Indian rupee against the dollar has slow down the imports. As per the data from SEA, edible oil imports fell to 10.53 lt in July compared to 14.89 lt in the same period a year ago. Soyoil degummed imports fell by 25% to 325,325 tons compared to 468,439 tons in July.
Agri Commodity Update Technical Outlook
BUY CORIANDER SEP ABOVE 4700 TARGET 4720/4740/4760 SL 4670
BUY GUARGUM5 OCT ABOVE 9600 TARGET 9640/9680/9720 SL 9550
BUY TURMERIC SEP ABOVE 6850 TARGET 6880/6910/6940 SL 6810
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