27-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
4989
5086
4989
SUPPORT
SUPP.1
SUPP. 2
4939
4915
4963
5012 RESISTANCE
RES. 1
RES. 2
5036
5109
1.81
7840
Coriander short term trend is bearish and may continue in coming days.
-
-
-
-
SUPPORT
SUPP. 1
SUPP. 2
-
-
7296
7308
7170
SUPPORT
SUPP. 1
SUPP. 2
7172
7102
7242
7240 RESISTANCE
RES. 1
RES. 2
7310
7378
-
-
-
PIVOT
LEVELS
RESISTANC E
RES. 1
RES. 2
-
-
-
-
GUARGUM 5MT
PIVOT
INTRADAY LEVELS
VOL
INTRADAY
TURMERIC
JULY
% CHG
CASTORSEED
PIVOT
INTRADAY LEVELS
CLOSE
0.17
3215
Turmeric short term trend is bearish and may continue in coming days.
JULY
8919
8991
8850
SUPPORT
SUPP. 1
SUPP. 2
8790
8749
8831
PIVOT
INTRADAY LEVELS
8890 RESISTANCE
RES. 1
RES. 2
8931
9031
0.89
14055
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 %
CORIANDER
20-08-2018
5053.00
90.00
1.81%
Index
COTTON SEED OIL CAKE AKOLA
20-08-2018
1811.50
23.00
1.29%
Castorseed
4519
4465
1.21
CASTOR SEED
20-08-2018
4519.00
54.00
1.21%
Chana
4104
4099
0.12
RAPESEED-MUSTARD SEED
20-08-2018
4171.00
45.00
1.09%
Coriander
5053
4963
1.81
SOY BEAN
16-10-2018
3368.00
31.00
0.93%
Guargum5MT
8880
8785
1.08
GUAR GUM 5 MT
16-10-2018
8910.00
79.00
0.89%
Jeera
19605
19520
0.44
BARLEY
20-08-2018
1610.00
10.00
0.63%
Musterseed
4171
4126
1.09
GUAR SEED 10 MT
16-10-2018
4164.00
24.00
0.58%
Soybean
3368
3337
0.93
Turmeric
7254
7242
0.17
TOP LOSERS Symbol
Expiry Date
Current Price
Change
Change %
Value
Pre. Close
% Change
Agri Commodity Update Commodities In News Indonesia’s trade ministry has decided to postpone for six months the application of rules mandating that Coal and Crude Palm Oil export shipments use Indonesian insurers, the country’s leading coal industry association said. It would be the second time that the application of the rules, due to come into effect on Aug. 1 and intended to support Indonesia’s shipping industry, has been postponed. The decision comes amid industry concerns of disruptions to shipments, Indonesian Coal Mining Association (ICMA) said. The central government has approved a proposal to build steel silos with capacity of 21 lakh tonnes for Wheat storage in Punjab, spread across more than 20 locations that have been finalised and will have railway connectivity. The connectivity will mean a guarantee from the Food Corporation of India (FCI), that it will pay the rent of unused storage capacity for 30 years, it is learnt. The Food Corporation of India (FCI), central public-distribution agency for which states procure foodgrains, had earlier refused a guarantee due to lack of rail link. But it is now, in principle, fine with the guarantee clause; modalities are being worked out, said state officials. The Cotton Advisory Board (CAB) estimates India's Cotton exports for this season (October 2017 to September 2018) to be 70 lakh bales, an increase of 20% over last year. From October, 2017 to April 2018, the total amount of cotton exported from India was 51.21 lakh bales. CAB has estimated that the Cotton production for the current Cotton season will be 370 lakh bales. Domestic prices of Cotton are ruling below the International Cotton prices. Domestic sale prices of the representative variety of S-6 cotton vis-à-vis international prices of its equivalent variety was lower by 7.18% as on July 14.
ECONOMIC NEWS
Technically Cotton market is under short covering as market has witnessed drop in open interest by 8.19% to settled at 2791 while prices up 140 rupees. Now MCX Cotton is getting support at 22166 and below same could see a test of 22063 level, And resistance is now likely to be seen at 22356, a move above could see prices testing 22443. Cotton on MCX settled up by 0.63% at 22270 on improved demand and increase in MSP by government. Cotton acreage is reported to be down by 11% on year to 92.7 lakh compared to 104.8 lakh last year, fuelling the upward movement. FAS India forecasts marketing year 2018/19 cotton production at 28.7 million 480 lb. bales on 11.85 million hectares but cut its estimate for India's cotton closing stocks in 2018-19 (AugJul) to 14.07 mln bales (1 US bale = 218 kg) from 14.33 mln bales pegged earlier.
Technically Jeera market is under fresh selling as market has witnessed gain in open interest by 5.23% to settled at 6699 while prices down 215 rupees. Now NCDEX Jeera is getting support at 19345 and below same could see a test of 19170 level, And resistance is now likely to be seen at 19755, a move above could see prices testing 19990. Jeera on NCDEX settled down by 1.09% at 19520 on profit booking after prices gained amid improved physical and exports due to good demand from China and Bangladesh. Mandi sources maintained that export enquiries have been good as India is the only jeera supplier to the world market currently. Jeera output is expected to be bumper and supplies are likely to increase in the coming days. 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 5100 TARGET 5120/5140/5160 SL 5070
SELL GUARGUM5 OCT BELOW 8800 TARGET 8760/8720/8680 SL 8850
BUY TURMERIC AUG ABOVE 7330 TARGET 7360/7390/7420 SL 7290
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