18-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
Oct
SUPPORT
INTRADAY LEVELS
RESISTANCE
5230
SUPP.1 5,137.33
5101
5235
SUPP. 2 5,039.66 PIVOT 5,198.66
RES. 1 5,296.33
% CHG
VOL
-
-
-
CASTORSEED
CORIANDER
5230
CLOSE
RES. 2 5,357.66
-2.29
1700
Coriander short term trend is bearish and may continue in coming days.
-
-
-
SUPPORT
SUPP. 1
SUPP. 2
-
PIVOT
INTRADAY LEVELS
RESISTANC E
RES. 1
RES. 2
-
-
-
-
GUARGUM 5MT
TURMERIC
Oct
Oct 6710 SUPPORT
6734
6578
SUPP. 1 6,612
SUPP. 2 6,568
INTRADAY LEVELS
RESISTANCE
RES. 1 6,742
RES. 2 6,828
6712
-1.82
315
9180 SUPPORT
PIVOT 6,698
Turmeric short term trend is bearish and may continue in coming days.
9180
8990
SUPP. 1 9,214.33
SUPP. 2 9,129.66
9237
-2.14
4210
Guargum Short term
PIVOT trend is bearish and may 9,294.66
INTRADAY LEVELS
RESISTANCE
RES. 1 9,379.33
RES. 2 9,459.66
continue in coming days.
Agri Commodity Update Most Active Contract TOP GAINERS
NCDEX INDICES
Symbol
Expiry Date
Current Price
Change
Change %
Index
JEERA
16-10-2018
WHEAT
16-10-2018
19875.00
2050.00
195.00
0.99%
19.00
0.94%
Barley
Castor Seed
Value
1707
4585
Pre. Close
1701
% Change
0.35
4603 -0.39
BARLEY
1707.00
16-10-2018
15.00
0.89%
Chana
3833
3950 -2.96
TOP LOSERS
Symbol
Expiry Date
Current Price
Change
Change % Coriander
4745
4848 -2.12
GUAR GUM 5 MT
16-10-2018
9039.00
-211.00
-2.28%
Agri Commodity Update Commodities In News Area sown to paddy, the main kharif crop, has gone up by 2.27% to 383.34 lakh hectare so far in the 2018-19 kharif season on higher acreage in states like Karnataka, Telangana and Tamil Nadu, according to latest data from the Agriculture Ministry.
Paddy acreage stood at 374.81 lakh hectare in the year ago period. Kharif sowing begins with the onset of southwest monsoon from June and harvesting starts from October. Area sown to oilseeds remained higher at 177.29 lakh hectare so far in the current kharif season as against 171.98 lakh hectare in the year-ago period on increase in sown area in Rajasthan, Maharashtra and Bihar, among other states. However, pulses was sown in an area of 137.41 lakh hectare so far this season, almost close to 138.60 lakh hectare in the same season last year. Coarse cereals were also sown in lesser area at 175.46 lakh hectare as against 182.23 lakh hectare earlier. Among cash crops, cotton was sown in 120.56 lakh hectare so far in this kharif season, slightly lower than 120.98 lakh hectare in the year-ago period. Sugarcane was sown in higher area of 51.94 lakh hectare as against 49.86 lakh hecatre, while jute/mesta was sown in 7.02 lakh hectare compared to 7.09 lakh hectare. In total, all kharif crops were sown in 1,053.03 lakh hectare so far in the current kharif season, higher than 1045.55 lakh hectare in the year-ago period, the data showed.
ECONOMIC NEWS
India’s forward export contracts of cotton have more than doubled from about seven lakh bales in September 2017, driven by increased demand from China, lower domestic prices and depreciation of the rupee. Exports would go up in this financial year despite expected projections of tight supplies and increase in minimum support price (MSP) by the government, industry sources said. "We have signed export contracts for 14-16 lakh bales (of 170 kg each). About 75% of these contracts are for export to China,” a top official of Cotton Association of India (CAI) said. “The 25% duty imposed by China on cotton imports from the USA will make Indian cotton more affordable to Chinese buyers,” the association said. Bangladesh and Vietnam are the other buyers that have signed some forward contracts for Indian cotton. In-spite of rupee depreciation, in August import of Vegetable Oil jumped to 15.12 lakh tonnes from 11.19 lakh tons in previous month, as pipelines were dried up due to lesser import during June and July ’18 months, coupled with improved parity in import of Palm Oil due to reduction in spread between palm oil and soft oils, resulted into higher import, said Solvent Extractors Association (SEA).
Agri Commodity Update Technical Outlook
BUY CORIANDER OCT ABOVE 5230 TARGET 5260/5290/5320 SL 5200
BUY GUARGUM5 OCT ABOVE 9180 TARGET 9210/9240/9270 SL 9150
BUY TURMERIC OCT ABOVE 6740 TARGET 6770/6800/6830 SL 6710
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