09-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
4965
4980
4874
SUPPORT
SUPP.1
SUPP. 2
4888
4828
4949
4934 RESISTANCE
RES. 1
RES. 2
4994
5040
-0.40
3820
Coriander short term trend is bearish and may continue in coming days.
-
-
-
-
SUPPORT
SUPP. 1
SUPP. 2
-
-
7270
7300
7190
SUPPORT
SUPP. 1
SUPP. 2
7193
7136
7250
7246 RESISTANCE
RES. 1
RES. 2
7303
7356
-
-
-
PIVOT
LEVELS
RESISTANC E
RES. 1
RES. 2
-
-
-
-
GUARGUM 5MT
PIVOT
INTRADAY LEVELS
VOL
INTRADAY
TURMERIC
AUG
% CHG
CASTORSEED
PIVOT
INTRADAY LEVELS
CLOSE
-0.41
2915
Turmeric short term trend is bearish and may continue in coming days.
AUG
9468
9525
9375
SUPPORT
SUPP. 1
SUPP. 2
9426
9325
9527
PIVOT
INTRADAY LEVELS
9475 RESISTANCE
RES. 1
RES. 2
9576
9625
-0.71
20840
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 %
CASTOR SEED
20-08-2018
4680.00
37.00
0.80%
Index
GUAR SEED 10 MT
16-10-2018
4381.00
17.00
0.39%
Castorseed
4680
4643
0.80
JEERA
20-08-2018
19710.00
75.00
0.38%
Chana
4148
4159
-0.26
WHEAT
20-08-2018
1980.00
7.00
0.35%
Coriander
4929
4949
-0.40
Guargum5MT
8880
8785
1.08
Value
Pre. Close
% Change
TOP LOSERS Symbol
Expiry Date
Current Price
Change
Change %
COTTON SEED OIL CAKE AKOLA
20-08-2018
1710.00
-31.00
-1.78%
Jeera
19710
19635
0.38
SOY BEAN
16-10-2018
3353.00
-40.00
-1.18%
Musterseed
4089
4097
-0.20
GUAR GUM 5 MT
16-10-2018
9459.00
-68.00
-0.71%
Soybean
3353
3393
-1.18
TURMERIC
20-08-2018
7220.00
-30.00
-0.41%
Turmeric
7220
7250
-0.41
Agri Commodity Update Commodities In News India doubled the import tax on more than 300 textile products to 20 percent on Tuesday as the world’s biggest producer of cotton tries to curb rising imports from China. It was the second tax hike on textiles in as many months after an increase on other products including fiber and apparels last month. The moves are expected to provide relief to the domestic textile industry, which has been hit by cheaper imports. India’s total textile imports jumped by 16 percent to a record $7 billion in the fiscal year to March 2018. Of this, about $3 billion were from China. Rising imports sent India’s trade deficit with China in textile products to a record high $1.54 billion in 2017/18, alarming industry officials as India had been until recently a net exporter of textile products to China. As a larger area comes under Tur or Arhar (red gram) in the ongoing kharif sowing season, growers anticipate higher output and want the Centre to curb all forms of imports to keep prices stable during the harvest season. The acreage under Tur as on August 3 has exceeded the year-ago period’s levels as farmers have brought a larger area in Karnataka, Madhya Pradesh, Telangana and Andhra Pradesh, among others, under cultivation. The Uttar Pradesh Sugar Mills Association (UPSMA) has wrote a letter to the state government, reiterating an earlier plea for a financial rescue package. The Association has reiterated its request for Rs 40 a quintal incentive on cane crushed by private sector mills during the recently concluded 2017-18 crushing season. The millers say their paying capacity was impaired due to less return from the sale of ugar and byproducts, against a comparatively higher cost of production. As a result, banks are not giving them loans, given the huge payment liabilities and unsold stock. So, they are unable to do the necessary repair works in preparation for the next season.
ECONOMIC NEWS
Sugar mills in Maharashtra, which has seen a glut in production, owe Rs 593 crore to farmers, an official said today. The state government is making efforts to persuade the sugar mills to clear the dues of farmers, he said. The mills paid around Rs 20,682 crore as sugarcane purchase price to farmers till July this year, but there are still arrears worth Rs 593 crore, the official in the state sugar commissioner's office said. Last year, there were arrears of only Rs two crore, he noted. State sugar commissioner Sambhaji Kadu Patil said he has been personally talking to sugar mill owners to clear the dues of farmers. Action has been taken against some mills which did not comply with the government norms for making payments, he said.
Technically Mustard Seed market is under fresh buying as market has witnessed gain in open interest by 9.27% to settled at 104790 while prices up 15 rupees. Now NCDEX Mustard Seed is getting support at 4127 and below same could see a test of 4107 level, And resistance is now likely to be seen at 4161, a move above could see prices testing 4175. Mustard Seed on NCDEX settled up by 0.36% at 4146 on improved demand for crushing, lower arrivals and improved meal exports. There is expectation of higher availability of mustard in market as National Agricultural Cooperative Marketing Federation of India (NAFED) started selling mustard seed in Rajasthan from Friday. NAFED had procured the oilseed under the price support scheme in 2017-18 (Jul-Jun). Prices touched 4 months high last week. There is still good demand for meal exports. According to SEA latest export report, mustard meal exports during first 3 months of FY 2018/19 is higher by 90% at 2.86 lt on year due to higher demand from South Korea. According to data compiled by Mustard Oil Producers Association, oil mills across the country crushed 450,000 tn of mustard in July, down 30.8% on month and 18.2% on year.
Agri Commodity Update Technical Outlook
SELL CORIANDER AUG BELOW 4870 TARGET 4850/4830/4810 SL 4900
SELL GUARGUM5 OCT BELOW 9300 TARGET 9260/9220/9180 SL 9350
SELL TURMERIC AUG BELOW 7190 TARGET 7160/7130/7100 SL 7230
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