07-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
-
-
-
SUPP. 2
SUPPORT
SUPP. 1
SUPP. 2
5,068.33
-
-
4890
4955
4761
SUPPORT
SUPP.1
4,987.66
4907
PIVOT
INTRADAY LEVELS
4,874.33 RESISTANCE
RES. 1
RES. 2
4,680.33
4,793.66
-1.42
1700
Coriander short term trend is bearish and may continue in coming days.
-
6680
6684
6518
SUPPORT
SUPP. 1
SUPP. 2
6,545.33
6,448.66
RESISTANC E
RESISTANCE
RES. 1 6,711.33
RES. 2 6,780.66
-
-
-
RES. 1
RES. 2
-
-
-
-
GUARGUM 5MT
6642
-1.69
315
Turmeric short term trend is bearish and may 6,614.66 continue in coming days.
Oct
PIVOT
INTRADAY LEVELS
VOL
PIVOT
INTRADAY LEVELS
TURMERIC
Sep
% CHG
CASTORSEED
CORIANDER
Sep
CLOSE
9576
9669
9488
SUPPORT
SUPP. 1
SUPP. 2
9,452.33
9,379.66
9525
RESISTANCE
RES. 1
RES. 2
9,633.33
9,741.66
4210
Guargum Short term trend is bearish and may 9,560.66 continue in coming days. PIVOT
INTRADAY LEVELS
-0.14
Agri Commodity Update Most Active Contract TOP GAINERS Symbol
WHEAT
RAPESEED-MUSTARD SEED REF SOYA OIL
SOY BEAN
Expiry Date
Current Price
19-09-2018
2015.00
4044.00
19-09-2018
19-09-2018
745.65
19-09-2018
3254.00
Change
9.00
17.00
2.80
NCDEX INDICES
Change %
Index
Value
Barley
1615
Castor Seed
4667
Chana
3855
Coriander
4765
Cotton Seed Oilcae
1708
1731.5
-1..53
4366
4345
0..46
2.06%
Pre. Close 1632
% Change
-1.04
0.46% 4667
0.00
0.43%
12.00
0.95%
GUAR SEED 10 MT
16-10-2018
4374.00
10.00
0.95%
REF SOYA OIL
19-09-2018
746.20
5.80
0.78%
3884
4907
-0.75
-2.89
TOP LOSERS Symbol CORIANDER
TURMERIC
Expiry Date 19-09-2018
19-09-2018
Current Price
Change
Change %
Guar Seed 10 MT
4775.00
-132.00
-2.69%
Jeera
19100
19315
-0.60
6518.00
-124.00
-1.87%
Mustardseed
4043
4040
-0.35
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.
ECONOMIC NEWS
Total area under Kharif cultivation stands at 1023 lakh hectare (lh) as compared to 1,027 lh covered during the corresponding week last year, recording a marginal drop of 0.41%, according to a latest update from Agri Ministry. Rice planting was completed on 370 lh as against 368 lh covered in same period in the previous year - up slightly by 0.57% on the year. Acreage under oilseeds stood at 171.30 lh, up 2.51% with strong gains in Soybeans. The acreage under the commodity rose by 6.24% to 111.76 lh. Groundnut area dropped by 1.71% to 39.14 lh. Total acreage under coarse cereals dropped 3.85% to 172.31 lh. Maize acreage was almost flat at 77.83 lh. Pulses area also dropped 2.55% to 132.66 lh with Urad acreage sliding by a sharp 12.80% to 37.57 lh. Sugarcane acreage soared 4.17% to 52 lh. Cotton acreage dropped 1.85% to 117.66 lh.
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.
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 4955 TARGET 4975/5005/5035 SL 4925
BUY TURMERIC SEP ABOVE 6884 TARGET 6914/6944/6974 SL 6854
BUY GUARGUM5 OCT ABOVE 9669 TARGET 9699/9729/9759 SL 9629
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