WEEKLY AGRI REPORT 4TH JANUARY 2013
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HEADLINES NCDEX Soybean has resistance at Rs 3294.67 On the National Commodity & Derivatives Exchange, soy futures today ended marginally up on late session recovery responding to fall in rupee from early highs against the dollar. Rupee has inverse correlation with soyoil due to India's heavy dependence on dollar denominated imports of edible oils. Crude palm oil futures on MCX ended in the red factoring the rise in rupee, coupled with weak winter
season demand for the cheapest edible oil, which has a
TRADING TIP:
BUY JEERA MAR ABOVE 13810 TGTS 13950/14100 SL 13640 SELL CHANA APR BELOW 3480 TGTS 3440/3400 SL 3520 www.epicresearch.co
tendency to crystallize in low temperatures. Mustard futures ended lower on improved crop output prospects due to the over 2% rise in acreage and favorable weather in north
India. Soybean
prices across markets were
marginally down in absence of cues from futures market, which remained flat.
EXPERT OPINION STOCK
S1
S2
R1
R2
CHANA
3,421
3,367
3,578
3,681
RM SEED
3,419
3,373
3,504
3,543
SOYABEAN
3,185
3,105
3,305
3,345
JEERA
13,387
12,980
14,099
14,404
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EXP DATE
PRODUCT NAME
OPEN HIGH MARKET LOW CLOSE LTP CHG WEEKLY ANALYSIS
PERCENTAGE CHANGE
Pepper CHANA 4556 by Rs4573 452536,855 4560 4532 -28 trade -0.61 Pepper 7/19/2012 prices weakened 90 to Rs per quintal in futures today as
speculators reduced their positions after fall in demand at prevailing higher levels in the spot CHILLI 5060 5060 5120 5018 on pepper -102 prices. -1.99At the market.7/19/2012 However, expectations of higher 5018 output also put pressure
National Commodity and Derivatives Exchange, pepper for delivery in March month declined GURby Rs 90, 7/19/2012 1188 to Rs 36,855 1188 1183.5 -5.5 -0.46 or 0.24 per cent per1178 quintal with an open1178 interest of 1,670 lots. Chilli7/19/2012
JEERA
14955
14960
14650
15052.5
14800
-252.5
-1.68
Chilli prices rose by Rs 100 per quintal in the national capital today, largely on the back of a KAPAS 1044local parties 1053 as well 1035as overseas 1049 enquiries. 1041 Firming -8 trend in -0.76 pick-up7/19/2012 in demand from futures market also supported the uptrend in select spice prices. Red chilli prices rose by Rs 100 to PEPPER 42300 42555 42250 42390 42435 45 0.11 settle at7/19/2012 Rs 6,500-11,500 per quintal. SOYA Turmeric REF 7/19/2012
780.5
783.6
777.4
782.85
781.3
-1.55
-0.2
Turmeric prices declined by Rs 36 to Rs 6,406 per quintal in futures market today owing to 7/19/2012 4309 4330 4265.5 4303 4315 12 0.28 subdued demand in the spot market against sufficient supplies. At the National Commodity and Derivatives Exchange, turmeric for delivery in May declined by Rs 36, or 0.56 per cent to TURMERIC 7/19/2012 4676 interest 4518 4540 the -124 -2.66 Rs 6,406 per quintal 4600 with an open of 7,5654664 lots. Likewise, spice for delivery in April contract traded lower by Rs 32, or 0.50 per cent to Rs 6,310 per quintal in 27,860 lots. SOY BEAN
WHEAT
7/19/2012
1251
1282
1251
1246
1282
36
2.89
Jeera Jeera prices fell by 0.93 per cent to Rs 13,527.50 per quintal in futures trading today as speculators trimmed positions largely on hopes of higher output this year. At the National Commodity and Derivatives Exchange, Jeera for delivery in April fell by Rs 127.50, or 0.93 per cent to Rs 13,527.50 per quintal with an open interest of 5,688 lots. Similarly, the spice for delivery in the March contract declined by Rs 125, or 0.92 per cent, to Rs 13,440 per quintal in 11,466 lots. Market analysts said, off-loading of positions by speculators on hopes of higher output this year due to favorable weather conditions in producing states mainly put pressure on jeera prices at futures trade.
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WEEKLY SOYABEAN CHART
ANALYSIS OPEN: 3204 HIGH: 3265 LOW: 3145 CLOSE: 3264
SOYABEAN LOOKS UPWARDS TREND: CONSOLIDATED STRATEGY: BUY ON DIPS
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WEEKLY CHANA CHART
ANALYSIS OPEN: 3614 HIGH: 3627 LOW: 3470 CLOSE: 3476
CHANA LOOKS DOWNWARDS TREND: CONSOLIDATED STRATEGY: SELL ON RISE
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