20-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
4900
4911
4860
SUPPORT
SUPP.1
SUPP. 2
4873
4841
4906
4892 RESISTANCE
RES. 1
RES. 2
4924
4943
-0.49
4300
Coriander short term trend is bearish and may continue in coming days.
-
-
-
-
SUPPORT
SUPP. 1
SUPP. 2
-
-
7012
7048
6950
SUPPORT
SUPP. 1
SUPP. 2
6957
6904
7010
7002 RESISTANCE
RES. 1
RES. 2
7055
7100
-
-
-
PIVOT
LEVELS
RESISTANC E
RES. 1
RES. 2
-
-
-
-
GUARGUM 5MT
PIVOT
INTRADAY LEVELS
VOL
INTRADAY
TURMERIC
AUG
% CHG
CASTORSEED
PIVOT
INTRADAY LEVELS
CLOSE
-0.63
3660
Turmeric short term trend is bearish and may continue in coming days.
AUG
9922
9990
9741
SUPPORT
SUPP. 1
SUPP. 2
9803
9647
9959
PIVOT
INTRADAY LEVELS
9896 RESISTANCE
RES. 1
RES. 2
10052
10145
-1.01
32480
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 %
RAPESEED-MUSTARD SEED
20-08-2018
4160.00
32.00
0.78%
Index
SOY BEAN
16-10-2018
3375.00
26.00
0.78%
Castorseed
4609
4643
-0.73
JEERA
20-08-2018
19325.00
85.00
0.44%
Chana
4290
4339
-1.13
REF SOYA OIL
20-08-2018
737.35
2.80
0.38%
Coriander
4830
4853
-0.47
Guargum5MT
8880
8785
1.08
Jeera
19495
19240
1.33
Musterseed
4168
4128
0.97
Value
Pre. Close
% Change
TOP LOSERS Symbol
Expiry Date
Current Price
Change
Change %
CASTOR SEED
20-08-2018
4609.00
-34.00
-0.73%
COTTON SEED OIL CAKE AKOLA
20-08-2018
1730.00
-11.50
-0.66%
CHANA
20-08-2018
4315.00
-24.00
-0.55%
Soybean
3370
3349
0.63
CORIANDER
20-08-2018
4830.00
-23.00
-0.47%
Turmeric
6966
6960
0.09
Agri Commodity Update Commodities In News Thanks to the current upswing in the commodity price supercycle, it may take another few years of increase before a downturn in investments will be felt. While commodity investments are fairly stable, there have been a total of three downturns in the last 150 years. This stability in commodity investments, plus the added advantage of having an option to own a physical product, often prompts would-be investors in the commodity direction. For beginners, a way to understand commodity markets is to relate it back home to something they understand and can easily predict. The investor’s occupation is a good place to start. Now NCDEX Soyabean is getting support at 3317 and below same could see a test of 3284 level, And resistance is now likely to be seen at 3369, a move above could see prices testing 3388. Soyabean on NCDEX settled up by 0.96% at 3349 tracking firmness in spot demand amid tight stocks. Traders are expecting revival of demand in spot markets from millers hoping fresh demand for soymeal. Projection of multi-year carry forward for next year provided support to prices. India's soybean acreage rose 9% to 11.1 million hectare on the back of higher minimum support price (MSP) and good weather conditions. Now MCX Cotton is getting support at 23364 and below same could see a test of 23197 levels and resistance is now likely to be seen at 23674, a move above could see prices testing 23817. Cotton on MCX settled down by -0.88% at 23530 tracking weakness in spot demand on profit booking after prices gained on irregular rains in cotton growing states which may affect yields. Gujarat witness deficient rains so far while in Maharashtra there is an attack of pest this year. Cotton growers in Saurashtra and North Gujarat — two key cotton growing regions in the State — have raised an alarm with most of the districts facing deficient rains in the range of 6288% of the normal rainfall.
ECONOMIC NEWS
MCX Mentha oil is getting support at 1638.3 and below same could see a test of 1608.8 levels and resistance is now likely to be seen at 1686.3, a move above could see prices testing 1704.8. Mentha oil on MCX settled up by 0.92% at 1667.8 due to bullish demand outlook from domestic market as well as exporters. Spot markets are also witnessing strong consumption demand amid restricted supplies. Bumper crop harvest has been discounted in the market and market is moving upwards on rising demand from end users. Arrivals in Sambhal stood at 400 drums compared to 350 drum a day ago while in Barabanki supplies rose to 500 drums from 450 drums a day earlier. According to preliminary estimates, mentha oil production in 2018-19 would be 40,00045,000 ton against last year's production of 35,000 tons. There could be chances of crop damage to certain extend due to unfavourable weather condition. Besides, farmers are likely to hold back the stocks as the present prices are not remunerative for them.
Heavy rainfall in southern and eastern India has boosted water levels in the country’s main reservoirs by an average 9% in the last one week, according to data from the Central Water Commission (CWC). Farmers and analysts said judicious utilisation of the water in reservoirs in Kerala, Karnataka and Tamil Nadu can ensure water availability till kharif planting of 2019. On Thursday, these dams together held 84.743 billion cubic metres (bcm) of water, which was 12% higher than last year’s levels, but 4% less than the 10-year average, the CWC data showed. Last week, the capacity was 77.554 bcm. “The reservoir position is definitely in excess in the south Indian states of Kerala, Karnataka and Tamil Nadu, while in east India it is good. A matter of concern is west and northern states, but with monsoon season going on, the situation can improve there too,” said Masood Husain, chairman, CWC.
Agri Commodity Update Technical Outlook
SELL CORIANDER SEP BELOW 4850 TARGET 4830/4810/4790 SL 4870
BUY GUARGUM5 OCT ABOVE 9720 TARGET 9680/9640/9600 SL 9770
SELL TURMERIC SEP BELOW 6940 TARGET 6910/6880/6850 SL 6980
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