DAILY AGRI COMMODITY REPORT

6 October 2016

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Market Views

2

MONT

HOPEN HIGH LOW

CLOS

E % CHG VOL

MONT

HOPEN HIGH LOW

CLOS

E % CHG VOL

TURMERIC

SEP 7108 7120 6976 7050 -0.90 4910

INTRADA

Y LEVELS

SUPPORT SUPP.1

6977

SUPP. 2

6904

PIVOT

7048

Turmeric short term

trend is bearish and May

continue in coming days.RESISTA

NCE

RES. 1

7121

RES. 2

7192

CORIANDER

SEP 7600 7640 7552 7610 0.16 2230

INTRADAY

LEVELS

SUPPORT SUPP.1

7561

SUPP. 2

7512

PIVOT

7600

Coriander short term

trend is bearish and May

continue in coming days.RESISTA

NCE

RES. 1

7649

RES. 2

7688

GUARGUM

OCT 6160 6350 6110 6340 2.59 9939

INTRADAY

LEVELS

SUPPORT SUPP. 1

6183

SUPP. 2

6026

PIVOT

6266

Guargum short term

trend is bearish and May

continue in coming days.RESISTA

NCE

RES. 1

6423

RES. 2

6506

CASTORSEED

- - - - - - -

INTRADAY

LEVELS

SUPPORT SUPP. 1

-

SUPP. 2

-

PIVOT

--

RESISTA

NCE

RES. 1

-

RES. 2

-

Most Active Contract

3

NCDEX INDICES

Index ValuePre.

Close

%

Change

Castorseed - - -

Chana - - -

Coriander 7610 7598 0.10

Guargum 6340 6180 2.59

Jeera 16650 16845 -1.16

Mustard seed 4498 4488 0.22

Soybean 3236 3207 0.9

Turmeric 7050 7114 -0.90

TOP GAINERS

Symbol Expiry Date Current Price Change Change %

GUAR GUM 20-10-2016 6340.00 170.00 2.76%

GUAR SEED 10 MT 20-10-2016 3441.00 62.00 1.83%

SOY BEAN 20-10-2016 3236.00 35.00 1.09%

REF SOYA OIL 20-10-2016 651.80 3.55 0.55%

TOP LOSERS

Symbol Expiry Date Current Price Change Change %

TURMERIC 20-10-2016 7050.00 -60.00 -0.84%

JEERA 20-10-2016 16650.00 -140.00 -0.83%

MAIZE -

FEED/INDUSTRIAL

GRADE

20-10-2016 1638.00 -9.00 -0.55%

Commodities In News

4

ECONOMIC NEWS

Daily price collections of sensitive items under pulses, fruits, vegetables

and cereals suggest that the seasonal surge in food prices may have peaked

in July, the RBI noted in its latest monetary policy statement. Subdued

momentum in food inflation in Q3 and the usual seasonal softening of food

prices in early Q4, notwithstanding a reversal of base effects in March

2017, improves the near-term outlook for inflation considerably.

Commodity prices are expected to remain quiescent over the rest of the

year. These anticipated developments feed into inflation expectations and,

in turn, influence wage and price conditions, going forward. On the

domestic front, the outlook for agricultural activity has brightened

considerably. The south west monsoon ended the season with a cumulative

deficit of only 3 per cent below the long period average, with 85% of the

country’s geographical area having received normal to excess precipitation.

Kharif sowing has surpassed last year’s acreage, barring cotton, sugarcane

and jute and mesta. Accordingly, the first advance estimates of kharif

foodgrains production for 2016-17 by the Ministry of Agriculture have

been placed at a record level, and higher than the target set for the year.

Fitch Ratings Monday projected Indian economy to grow at a slower

pace of 7.4 percent in the current fiscal and touch 8 percent growth only in

2018-19, as it expects the benefits of reforms and impact of monetary

easing to kick in with a lag. The US-based rating agency projected Reserve

Bank of India (RBI) lowering interest rates by 0.25 percent before end of

2016, followed by another rate cut in 2017. itch Ratings' latest bi-monthly

Global Economic Outlook (GEO) report said "We forecast GDP growth to

accelerate gradually from 7.4 percent in FY17 (year ending March 2017) to

8.0 percent in FY19“. It projected the growth to be at 7.9 percent in 2017-

18. "Public-sector wage hikes, lagged impact of monetary policy easing,

and a better monsoon season than the previous two years, should support

growth in the near-term, while decent progress on structural reforms

including the recent landmark passage of the Goods and Services Tax in

parliament should facilitate a turnaround in investment over the medium

term," Fitch said.

Soybean futures traded marginally higher on NCDEX on concerns

that wet weather condition during second part of September may have

affected early harvest of crops. However, cut in edible oil imports taxes

and lower export demand for soymeal, restricted some gains. The

contract for October delivery was trading at Rs 3218.00, up by 0.34%

or Rs 11.00 from its previous closing of Rs 3207.00. The open interest

of the contract stood at 36670 lots. The contract for November delivery

was trading at Rs 3233.00, up by 0.47% or Rs 15.00 from its previous

close of Rs 3218.00.

Coriander futures traded lower on NCDEX as participants trimmed

their positions, tracking easing demand in the spot market. Besides,

rising arrivals from major growing regions also influenced coriander

futures. The contract for October delivery was trading at Rs 7565.00,

down by 0.43% or Rs 33.00 from its previous closing of Rs 7598.00.

The open interest of the contract stood at 9600.00 lots. The contract for

November delivery was trading at Rs 7503.00, down by 0.35% or Rs

26.00 from its previous closing of Rs 7529.00.

Turmeric futures edged lower on NCDEX on expectation of higher

production in the coming year due to strong sowing of turmeric in the

producing belts of Karnataka. However, rising demand at the spot

market ahead of festival season, capped some losses. The contract for

October delivery was trading at Rs 7022.00, down by 1.29% or Rs

92.00 from its previous closing of Rs 7114.00.The open interest of the

contract stood at 9760 lots. The contract for November delivery was

trading at Rs 7124.00, down by 0.92% or Rs 66.00 from its previous

closing of Rs 7190.00.

Jeera futures traded lower on NCDEX on account of fall in domestic

as well as export demand at the spot market. Though, some losses were

capped on poor arrival from the producing belts. The contract for

October delivery was trading at Rs 16725.00, down by 0.71%.

Technical Outlook

5

SELL CORIANDER OCT BELOW 7620 TARGET 7575 7475 SL

ABOVE 7685

BUY GUARGUM OCT ABOVE 6360 TARGET 6410 6480 SL

BELOW 6300

SELL TURMERIC OCT BELOW 6980 TARGET 6936 6876 SL

ABOVE 7040

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