04-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
4664
4696
4635
SUPPORT
SUPP.1
4,642
4676
1700
-
-
SUPP. 2
SUPPORT
SUPP. 1
SUPP. 2
4,608
-
-
PIVOT RESISTANCE
1.42
-
INTRADAY LEVELS
RES. 1
RES. 2
4,703
4,730
4,669
Coriander short term trend is bearish and may continue in coming days.
-
6810
6810
6726
SUPPORT
SUPP. 1
SUPP. 2
6,755
6,696
6814
6,785 RESISTANCE
RES. 1 6,844
RES. 2 6,874
-
-
-
PIVOT
LEVELS
RESISTANC E
RES. 1
RES. 2
-
-
-
-
GUARGUM 5MT
PIVOT
INTRADAY LEVELS
VOL
INTRADAY
TURMERIC
Sep
% CHG
CASTORSEED
CORIANDER
Sep
CLOSE
-1
315
Turmeric short term trend is bearish and may continue in coming days.
Oct
9540
9770
9531
SUPPORT
SUPP. 1
SUPP. 2
9,454
9,373
9535
PIVOT
INTRADAY LEVELS
9,612 RESISTANCE
RES. 1
RES. 2
9,693
9,851
1.63
4210
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
9690.00
COTTON SEED OIL CAKE AKOLA
19-09-2018
1734.00
GUAR SEED 10 MT
16-10-2018
CASTOR SEED
19-09-2018
CORIANDER
SOY BEAN
19-09-2018
511.00
5.57%
78.00
4.71%
4427.50
161.50
3.79%
4725.00
112.00
2.43%
4665.00
16-10-2018
3275.00
73.00
49.00
Index
Value
Pre. Close
% Change
Castorseed
1734
1667.50
3.99
Chana
3872
3865
0.18
Coriander
4665
4676
-2.24
Guar Seed 10 MT
4427.5
4408.5
0.43
Jeera
18690
18605
0.46
Musterseed
4004
3990
1.64
1.59%
1.52%
TOP LOSERS Symbol
TURMERIC
CHANA
Expiry Date
19-09-2018
19-09-2018
Current Price
Change
Change %
6746.00
-56.00
-0.82%
Soybean
3872.00
-19.00
-0.49%
Turmeric
3275
6746
3222
1.64
6814
-1.00
Agri Commodity Update Commodities In News positive bias on
Turmeric futures continued their trade in range with Friday. Prices traded lower on expectations of higher sowing area under turmeric and progress of the same in the growing states that may lead to higher crop output. However, prices recovered from low levels on short covering. Expectations of pickup in demand due to marriage and festive season supported recovery in futures prices. Hence, Sept futures closed at Rs.6814/quintal, up by 0.18% while Oct futures closed with gains of 0.09% from its previous close. At Nizamabad market, prices traded lower at Rs.6025/quintal and Rs.4891/quintal for finger and bulb respectively amid supplies of 130 MTs. At Erode market, prices traded steady to lower as finger prices fell by Rs.200 to Rs.6700/quintal while bulb prices traded steady at Rs.6000/quintal amid supplies of 23 MTs.
India’s Coffee output for the 2018-19 crop year starting October is set to shrink as unusual heavy rains have hit over the past several weeks in the key growing regions in Karnataka. These key regions have affected with fungal diseases such as black-rot, which results in rotting of leaves and berries and also there have been reports of excess berry droppings due to heavy rains. Karnataka accounts for over 70 per cent of the country’s Coffee output. Karnataka planters are grappling to deal with fungal disease, berry droppings. Even the shortage of labour is hurting the growers. India’s Coffee output which peaked to a record 3.48 lakh tonnes during 2015-16 has come down in the subsequent years on account of erratic weather pattern impacting the production.
ECONOMIC NEWS
Traders from across Maharashtra, who had boycotted buying of kharif crops for more than a week, have decided to resume trade from Tuesday. However, they will not buy produce at minimum support price (MSP) if not affordable. Traders from across the state had gathered in Pune to take a call on their agitation. They were fiercely proposing to keep trade suspended till government cancelled the proposed changes. Technically Soyabean market is under fresh selling as market has witnessed gain in open interest by 2.52% to settled at 57870 while prices down 4 rupees. Now NCDEX Soyabean is getting support at 3198 and below same could see a test of 3174 level, And resistance is now likely to be seen at 3244, a move above could see prices testing 3266. Soyabean on NCDEX settled down 0.12% at 3222 on forecast of beneficial rains in central India which will enhance soybean production. Prices also dropped in view of bumper crop during 2018-19 on the back of higher sowing and favourable weather conditions.
Agri Commodity Update Technical Outlook
BUY CORIANDER SEP ABOVE 4696 TARGET 4716/4740/4790 SL 4630
BUY TURMERIC SEP ABOVE 6810 TARGET 6830/6890/6930 SL 6760
BUY GUARGUM5 OCT ABOVE 9770 TARGET 9800/9850/9900 SL 9920
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