12-Jul-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
JULY
4682
4711
4611
SUPPORT
SUPP.1
SUPP. 2
4635
4573
4698
4673 RESISTANCE
RES. 1
RES. 2
4735
4773
-1.23
4010
Coriander short term trend is bearish and may continue in coming days.
-
-
-
-
SUPPORT
SUPP. 1
SUPP. 2
-
-
6960
7020
6910
SUPPORT
SUPP. 1
SUPP. 2
6913
6856
6970
6966 RESISTANCE
RES. 1
RES. 2
7023
7076
-
-
-
PIVOT
LEVELS
RESISTANC E
RES. 1
RES. 2
-
-
-
-
GUARGUM 5MT
PIVOT
INTRADAY LEVELS
VOL
INTRADAY
TURMERIC
JULY
% CHG
CASTORSEED
PIVOT
INTRADAY LEVELS
CLOSE
-0.75
1665
Turmeric short term trend is bearish and may continue in coming days.
JULY
8425
8700
8282
SUPPORT
SUPP. 1
SUPP. 2
8252
8058
8447
PIVOT
INTRADAY LEVELS
8476 RESISTANCE
RES. 1
RES. 2
8670
8894
3.00
4965
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
20-07-2018
8700.00
305.00
3.63%
Index
COTTON SEED OIL CAKE AKOLA
20-07-2018
1695.50
49.50
3.01%
Castorseed
4500
4476
0.54
GUAR SEED 10 MT
20-07-2018
4043.00
78.00
1.97%
Chana
3820
3810
0.26
CASTOR SEED
20-07-2018
4500.00
35.00
0.78%
Coriander
4640
4698
-1.23
Guargum5MT
8880
8785
1.08
Value
Pre. Close
% Change
TOP LOSERS Symbol
Expiry Date
Current Price
Change
Change %
CORIANDER
20-07-2018
4640.00
-44.00
-0.94%
Jeera
18355
18320
0.19
REF SOYA OIL
20-07-2018
753.00
-6.10
-0.80%
Musterseed
4082
4104
-0.54
TURMERIC
20-07-2018
6918.00
-32.00
-0.46%
Soybean
3537
3513
0.68
WHEAT
20-07-2018
1865.00
-8.00
-0.43%
Turmeric
6918
6970
-0.75
Agri Commodity Update Commodities In News Water scarcity in Guar growing regions of Rajasthan and Haryana in the second half of June has raised prices of Guar Seed and Guar Gum by 10.5% and 13% , respectively, in the past month. Steady export demand from the shale gas industry of North America also firmed up Guar Gum prices, trade souces said. Guar trade also feels that the government’s move to increase minimum support price (MSP) of Moong by 25 per cent in the ongoing kharif season may see farmers shifting from Guar to moong which in turn may bring down guar acreage in the country. If this happens, then Guar prices may remain firm in the months to come, trade sources said. World Sugar production to hit a record high in 2017/18 (October/September) and surpass consumption, with the anticipated surplus likely to be the largest in history, the United Nations' Food and Agricultural Organisation (FAO) said in its latest report. World Sugar production is forecast to rise 11.1% this year, reaching record level of 187.6 million tonnes. Decreases in Sugar output in Brazil and Australia are predicted to be offset by expansions in India, the EU, Thailand, and China, FAO said. Cotton traders are confident that an increase in the minimum support price (MSP) and ideal rain in last week will energize planting of the crop and arrest the fall in acreage to about 10 per cent of the previous year. CAI, which has pegged 2017-18 Cotton production at 365 lakh bales of 170 kg each, expects the 2018-19 Cotton crop to stand between 350 lakh and 375 lakh bales. The industry was fearing a higher fall in Cotton acreage. However, since the past one week, Cotton sowing has gathered pace. According to data released by the agriculture ministry, Cotton sowing as on July 5 was trailing by 25 per cent from a year ago. Cotton had been sown on 54.60 lakh hectares compared with 73.02 lakh hectares in the corresponding period of 2017.
ECONOMIC NEWS In yet another effort to double farmers’ income by 2022, the government will now pursue states to move on to zerobudget natural farming that aims to bring down the cost of farming, thereby significantly enhancing the profit margins for farmers. The NITI Aayog on Monday held a meeting with top officials of all states to arrive at a consensus to institutionalise zero-budget natural farming (ZBNF). Under zero-budget natural farming, a set of natural farming methods are used where the cost of growing and harvesting crops is almost zero. This means farmers need not purchase fertilisers and pesticides in order to ensure healthy growth of crops. The inputs used for seed treatment and other inoculations are locally available in form of cow dung and cow urine. This lowers the cost of inputs for farmers. Besides, it also protects soil from degradation, helps in retaining soil fertility and is climatechange resilient.
India's rice exports are set to ease from October as the world's biggest shipper of the grain boosts guaranteed prices that farmers receive for much of their crop, making new season cargoes expensive compared to supply from rival growers. Lower exports would mean that India loses market share in key Asian and African markets, traders and industry sources said, with exports from countries such as Thailand, Vietnam and Myanmar likely to fill any gaps. India on Wednesday raised prices paid to local farmers for common grade paddy rice by 13 percent from a year ago to 1,750 rupees ($25.50) per 100 kg, with Prime Minister Narendra Modi looking to woo millions of rural poor ahead of a general election next year. The government typically buys more than a third of the country's rice output at a fixed price, which also has a direct impact on prices paid by traders. "With this price rise, our exports will become expensive," said B V Krishna Rao, president of the Rice Exporters Association (REA). "The customer base that we have created over a period of time is going to shift to Thailand and Vietnam."
Agri Commodity Update Technical Outlook
SELL CORIANDER JUL BELOW 4610 TARGET 4590/4570/4550 SL 4640
BUY GUARGUM5 JUL ABOVE 8740 TARGET 8780/8820/8860 SL 8690
SELL TURMERIC JUL BELOW 6900 TARGET 6870/6840/6810 SL 6940
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