19-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
4612
4690
4602
SUPPORT
SUPP.1
SUPP. 2
4574
4544
4605
4632 RESISTANCE
RES. 1
RES. 2
4662
4720
0.76
5310
Coriander short term trend is bearish and may continue in coming days.
-
-
-
-
SUPPORT
SUPP. 1
SUPP. 2
-
-
7180
7248
7110
SUPPORT
SUPP. 1
SUPP. 2
7085
7028
7142
7166 RESISTANCE
RES. 1
RES. 2
7223
7304
-
-
-
PIVOT
LEVELS
RESISTANC E
RES. 1
RES. 2
-
-
-
-
GUARGUM 5MT
PIVOT
INTRADAY LEVELS
VOL
INTRADAY
TURMERIC
JULY
% CHG
CASTORSEED
PIVOT
INTRADAY LEVELS
CLOSE
0.53
6125
Turmeric short term trend is bearish and may continue in coming days.
JULY
8860
9120
8830
SUPPORT
SUPP. 1
SUPP. 2
8750
8645
8855
PIVOT
INTRADAY LEVELS
8935 RESISTANCE
RES. 1
RES. 2
9040
9225
2.99
23640
Guargum Short term trend is bearish and may continue in coming days.
Agri Commodity Update Most Active Contract TOP GAINERS
NCDEX INDICES Symbol
Expiry Date
Current Price
Change
Change %
TOP LOSERS Index Symbol
Expiry Date
Current Price
Change
Value
Pre. Close
% Change
Change % Castorseed
4490
4441
1.10
Chana
4313
4148
3.98
Coriander
4576
4532
0.97
Guargum5MT
8880
8785
1.08
Jeera
18680
18355
1.93
1.73%
Musterseed
4198
4076
2.99
147.00
1.71%
Soybean
3550
3533
0.48
18.00
1.16%
Turmeric
7050
6930
1.73
CHANA
20-07-2018
4313.00
165.00
3.98%
COTTON SEED OIL CAKE AKOLA
20-08-2018
1817.00
66.50
3.80%
RAPESEED-MUSTARD SEED
20-07-2018
4198.00
122.00
2.99%
GUAR SEED 10 MT
16-10-2018
4306.00
125.00
2.99%
JEERA
20-07-2018
18710.00
355.00
1.93%
TURMERIC
20-07-2018
7050.00
120.00
GUAR GUM 5 MT
20-07-2018
8733.00
BARLEY
20-07-2018
1565.50
Agri Commodity Update Commodities In News India and Indonesia signed a Memorandum of Understanding (MoU) to promote the production and trade of sustainable Palm Oil. The agreement on sustainable palm oil production, was signed by the Indonesian Palm Oil Board (DMSI), the Solvent Extractors Association (SEA) of India and civil society organization Solidaridad Network Asia. "India uses our palm oil products a lot so we need to build communications not only between the two governments but also between associations, said Indonesia's coordinating ministry for economic affairs. Sugar stocks in India are probably going to dramatically increase before the end of the current marketing year as the world's biggest maker of the sweetener battles to export surplus. Inventory is rising, on record high production, but mills are not exporting Sugar due to lower returns. India has so far contracted to export 2,75,000 tonnes Sugar from its record production of 32.25 million tonnes. The rise in Sugar output will weigh on local prices, potentially pushing the country to try to ship more Sugar overseas, which could drag on global prices that have already fallen 16 per cent this year. Bangladesh, Vietnam and Indonesia are emerging as prominent markets for Indian Cotton while traditional buyers such as China and Pakistan have cut down on their purchases. According to the data shared by the Directorate General of Foreign Trade (DGFT), in 2017-18, India exported 3.92 lakh tonnes of Cotton (with length of 28.5 mm and above but not exceeding 34.5 mm) worth $715 million to Bangladesh, up 12% from 3.50 lakh tonnes worth $600 million in 2016-17. Exports to China fell by 55% between 2016-17 and 2017-18 from 1.54 lakh tonnes to 69,219 tonnes. Exports to Pakistan remained almost flat at 1.46 lakh tonnes in 2016-17 and 1.47 lakh tonnes in 2017-18.
ECONOMIC NEWS
The government has hiked the fair and remunerative price (FRP) of sugarcane by Rs 20 to Rs 275 per quintal for the next marketing year (20182019) starting October. Union petroleum minister Dharmendra Pradhan briefed the media on the decisions taken by the Cabinet. The decision to increase the FRP of sugarcane for the 2018-19 marketing year was taken by the Cabinet Committee on Economic Affairs (CCEA). The Commission for Agricultural Costs and Prices (CACP) had recommended Rs 20 per quintal hike in the FRP of sugarcane at Rs 275 per quintal for the next season. The FRP, which is the minimum price that sugar mills have to pay to sugarcane farmers, is Rs 255 per quintal for the 2017-18 season. At present, the FRP price is linked to a basic recovery rate of 9.5 per cent, subject to a premium of Rs 2.68 per quintal for every 0.1 per cent point increase in recovery rate.
Technically Jeera market is under short covering as market has witnessed drop in open interest by 1.43% to settled at 5775 while prices up 10 rupees. Now NCDEX Jeera is getting support at 18540 and below same could see a test of 18370 level, And resistance is now likely to be seen at 18820, a move above could see prices testing 18930. Jeera on NCDEX settled flat on profit booking after prices gained amid exports demand from China and Bangladesh. There is good scope of export because at present India is the only supplier in the global market output is stated to lower in the other two producing countries Turkey and Syria. There are reports of good export demand from Bangladesh and China. Jeera export during this fiscal may touch 175,000 ton level up from 143,670 ton jeera during 2017-18. A trade body-The Federation of Indian Spices Stakeholders (FISS) - projected India's 2017-18 jeera output at 6.92 million bags up 19% on year on the back of higher acreage and favourable weather.
Agri Commodity Update Technical Outlook
BUY CORIANDER AUG ABOVE 4690 TARGET 4710/4730/4750 SL 4660
BUY GUARGUM5 AUG ABOVE 9150 TARGET 9190/9230/9270 SL 9100
BUY TURMERIC AUG ABOVE 7250 TARGET 7280/7310/7340 SL 7210
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