29-Jun-2018 Agri Commodity Update
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Agri Commodity Update Market Views MONTH
OPEN
HIGH
LOW
CLOSE
% CHG
VOL
MONTH
OPEN
HIGH
LOW
4602
4699
4602
SUPPORT
SUPP.1
SUPP. 2
4364
4535
4594
PIVOT
INTRADAY LEVELS
4632 RESISTANCE
RES. 1
RES. 2
4358.67
4411.33
1.65
8290
Coriander short term trend is bearish and may continue in coming days.
-
-
-
-
SUPPORT
SUPP. 1
SUPP. 2
-
-
7370
7464
7342
SUPPORT
SUPP. 1
SUPP. 2
7335
7277
RESISTANCE
RES. 1
RES. 2
7457
7521
-
-
-
PIVOT
LEVELS
RESISTANC E
RES. 1
RES. 2
-
-
-
-
GUARGUM 5MT
7392
PIVOT
INTRADAY LEVELS
VOL
INTRADAY
TURMERIC
JUN
% CHG
CASTORSEED
CORIANDER
JUN
CLOSE
7399
0.22
7680
Turmeric short term trend is bearish and may continue in coming days.
JUN
7840
8030
7812
SUPPORT
SUPP. 1
SUPP. 2
7736
7665
7808
PIVOT
INTRADAY LEVELS
7883 RESISTANCE
RES. 1
RES. 2
7954
8101
2.33
23345
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 % Value
Pre. Close
% Change
CORIANDER
20-07-2018
4692
102
2.22%
Index
GUAR GUM 5 MT
20-07-2018
7975
167
2.14%
Castorseed
4174
4179
-0.12
JEERA
20-07-2018
18075
360
2.03%
Chana
3455
3484
-0.83
GUAR SEED 10 MT
20-07-2018
3808
54.5
1.45%
Coriander
4670
4594
1.65
Guargum5MT
8880
8785
1.08
TOP LOSERS Symbol
Expiry Date
Current Price
Change
Change %
MAIZE FEED/INDUSTRIAL GRADE
20-07-2018
1143
-7
-0.61%
Jeera
18070
17720
1.98
WHEAT
20-07-2018
1825
-5
-0.27%
Musterseed
3970
3983
-0.33
CHANA
20-07-2018
3472
-6
-0.17%
Soybean
3518
3496
0.63
REF SOYA OIL
20-07-2018
753.5
-0.7
-0.09%
Turmeric
7408
7392
0.22
Agri Commodity Update Commodities In News Though, some losses were capped as the Cotton Advisory Board (CAB) has lowered its cotton output estimates of 377 lakh bales to 370 lakh bales for 2017-18 due to pink bollworm attack on cotton crops in Maharashtra, Telangana and Andhra Pradesh.A higher stock in the country and higher expected cotton exports to China from India may increase fivefold in coming cotton season is keeping prices sideways. Cotton acreage till last week was down by 16% on year to 20.7 lakh hac, according to the farm ministry data.The fall in area of cotton was mainly due to delay in arrival of monsoon over Gujarat, one of the largest growers of the commodity Mustard Seed on NCDEX settled up by 1.14% at 3983 due to short covering amid an expectation of improved meal and crushing demand after government increase import duty on soft edible oil by 10-15%.According to data, mills across the country crushed 900,000 tn of the oilseed in May much higher crushing volume compared to last year. According to SEA latest export report, mustard meal exports during first 5 months of 2018 is higher by 164% on year due to higher demand from South Korea.Exports are 209% higher at 6.64 lt for the FY 2017/18 compared to previous year’s export volume of 2.14 lt. Jeera on NCDEX settled up by 1.58% at 17720 tracking firmness in spot demand and on healthy export demand. However monsoon revival in several parts of the country limiting the upside. Weather conditions have become favourable for advancement of monsoon rainfall which could facilitate sowing activities in major growing states.Further, export demand for Indian jeera is expected to be strong in the current season owing to lower supplies from Turkey and Syria. According to export data released by Commerce ministry, Jeera recorded its highest monthly exports of 33,458 tonnes in March while in April the exports were 74% higher on year at 25,900 tonnes
ECONOMIC NEWS The
government is likely to soon launch a Rs 500-crore programme that aims to end distress sales by farmers of tomato, onion and potato (TOP) crops. The ministry of food processing Industries expects approval from the Standing FinanceNSE -1.41 % Committee for the Rs 500-crore Operations Greens scheme. Announced by the Finance minister in this year's budget, this programme intends to enhance farmers’ income, create integrated supply chains, and reduce price volatility. “We are in the process of finalizing the scheme and will be placing it before the Standing Finance Committee. Once approved, it will be launched by July,” said Jagdish Prasad Meena, secretary, food processing ministry. He said that the focus will be to intervene in top 10 major producing clusters for each crop. “This will lead to enhancement in the incomes of tomato, onion and potato farmers, capacity building of Farmers Producers Organisations, reduction inpost-harvest losses, creation of processing infrastructureNSE -2.24 %, provision of agri-logistics for supply chain and reduction in price volatility of TOP for consumers," Meena said.
NCDEX Refined Soya Oil futures slipped today after a sharp rally in last session. The benchmark NCDEX July Refined Soya Oil futures soared to a two week high above Rs 754 per 10 kg though the upside fizzled out on lack of buying and ideas that the kharif sowing would pace up following the recent revival in monsoon rainfall. The futures have also been witnessing a constant decline in open interest in last couple of week and the trend continues today as well. The counter currently trades at Rs 752.50 per 10 kg, down 0.22% on the day. The open interest in the counter is down 1.60% on the day. The US Soybean oil futures are quoting around their lowest levels in two and half years and traders are also eyeing an uptick in sowing of the kharif pulses. The NCDEX Soya oil futures had slipped to a four month low before the latest recovery though lack of buying is cutting the upside short for the counter.
Agri Commodity Update Technical Outlook
BUY CORIANDER JUL ABOVE 4700 TARGET 4720/4740/4760 SL 4670
BUY GUARGUM5 JUL ABOVE 8030 TARGET 8070/8110/8150 SL 7980
BUY TURMERIC JUL ABOVE 7430 TARGET 7460/7490/7520 SL 7390
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