23-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
4980
5020
4943
SUPPORT
SUPP.1
SUPP. 2
4926
4896
4957
4973 RESISTANCE
RES. 1
RES. 2
5003
5050
0.63
4680
Coriander short term trend is bearish and may continue in coming days.
-
-
-
-
SUPPORT
SUPP. 1
SUPP. 2
-
-
7074
7086
7010
SUPPORT
SUPP. 1
SUPP. 2
7030
6982
7078
7058 RESISTANCE
RES. 1
RES. 2
7106
7134
-
-
-
PIVOT
LEVELS
RESISTANC E
RES. 1
RES. 2
-
-
-
-
GUARGUM 5MT
PIVOT
INTRADAY LEVELS
VOL
INTRADAY
TURMERIC
AUG
% CHG
CASTORSEED
PIVOT
INTRADAY LEVELS
CLOSE
-0.62
2825
Turmeric short term trend is bearish and may continue in coming days.
AUG
9950
9986
9647
SUPPORT
SUPP. 1
SUPP. 2
9732
9520
9945
PIVOT
INTRADAY LEVELS
9859 RESISTANCE
RES. 1
RES. 2
10071
10198
-2.37
39085
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 %
CORIANDER
19-09-2018
4988.00
36.00
0.73%
Index
WHEAT
19-09-2018
1987.00
3.00
0.15%
Castorseed
4711
4717
-0.13
Chana
4267
4334
-1.55
Value
Pre. Close
% Change
TOP LOSERS Symbol
Expiry Date
Current Price
Change
Change %
GUAR GUM 5 MT
16-10-2018
9709.00
-232.00
-2.33%
Coriander
4988
4957
0.63
GUAR SEED 10 MT
16-10-2018
4522.00
-101.00
-2.18%
Guargum5MT
8880
8785
1.08
CHANA
19-09-2018
4267.00
-59.00
-1.36%
Jeera
20340
20390
-0.25
COTTON SEED OIL CAKE AKOLA
19-09-2018
1821.00
-17.50
-0.95%
Musterseed
4157
4166
-0.22
SOY BEAN
16-10-2018
3324.00
-29.00
-0.86%
Soybean
3324
3350
-0.78
TURMERIC
19-09-2018
7034.00
-56.00
-0.79%
Turmeric
7034
7078
-0.62
Agri Commodity Update Commodities In News Unprecedented rains that triggered flash floods and landslids have delivered a deadly blow to several Coffee planters in Karnataka, the largest producer of Coffee in India. Spices like black Pepper and Cardamom produced in the Coffee estates have also been severely hit. “The unprecedented rain has resulted in devastation of coffee plantations of unimaginable proportion. Not only the plantations have been washed away in the floods and landslides, the coffee plants have been uprooted in vast areas. Also the heavy rain has triggered berry droppings. The properties of plantation growers, the labour quarters and other infrastructure in the estates have been damaged in these districts,” said an official of Karnataka Planters Association (KPA), the apex body of planters in the State. Bangladesh imported 46% of its cotton needs from India last year, the High Commission of India says after a meeting between the high commissioner and industry leaders and office bearers of the Bangladesh Cotton Association (BCA). The delegation briefed the envoy about the work of the association and Bangladesh India Cotton Forum. The association works closely with Indian Cotton Association and Cotton Association of India as the country has to depend on import for raw cotton, the high commission said. Local growers can meet only around 2 percent of the demand leading to over $3 billion worth of import, according to available statistics. A trend of farmers showing preference for Soybean this season after Cotton crop was attacked by Pink Bollworm last year. According to data gathered by the Soybean Processors Association of India (Sopa), the allIndia area under acreage has increased by 10% this year to 111.734 lakh hectare compared with last year at 101.561 lakh hectare. The farmers have completed sowing operations in three-and-a-half weeks. Farmers commenced sowing operations on June 15 and completed them on July 10.
ECONOMIC NEWS
Now MCX Menthaoil is getting support at 1634.9 and below same could see a test of 1611.3 levels and resistance is now likely to be seen at 1675.7, a move above could see prices testing 1692.9. Mentha Oil on MCX settled up by 0.58% at 1658.4 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 40,000-45,000 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.
Technically Cardamom market is under fresh buying as market has witnessed gain in open interest by 19.72% to settled at 170 while prices up 24.8 rupees. Now MCX Cardamom is getting support at 1363.5 and below same could see a test of 1340.7 level, And resistance is now likely to be seen at 1405.7, a move above could see prices testing 1425.1. Cardamom on MCX settled up by 1.82% at 1386.3 as there are fears of damage to standing crops and delay in new crop supplies. Rains have also impacted the new crops and supplies from the fresh crop would get momentum by the third week of this month, though scattered supplies have begun to pour in some of the auction centres. Stockists did not make buying on hopes of higher output and early commencement of new crop supplies. Heavy monsoon rainfall that has caused damage to plantation thereby resulting in crop loss and downward revision of earlier made higher crop estimates.
Agri Commodity Update Technical Outlook
BUY CORIANDER SEP ABOVE 5020 TARGET 5040/5060/5080 SL 4990
SELL GUARGUM5 OCT BELOW 9600 TARGET 9560/9520/9480 SL 9650
SELL TURMERIC SEP BELOW 7000 TARGET 6970/6940/6910 SL 7040
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