DAILY AGRI COMMODITY REPORT
01 February 2017
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Market Views
2
MONT
HOPEN HIGH LOW
CLOS
E % CHG VOL
MONT
HOPEN HIGH LOW
CLOS
E % CHG VOL
TURMERIC
APR 6680 6770 6638 6768 2.14 2405
INTRADA
Y LEVELS
SUPPORT SUPP.1
6681
SUPP. 2
6593
PIVOT
6725
Turmeric short term
trend is bearish and May
continue in coming days.RESISTA
NCE
RES. 1
6813
RES. 2
6857
CORIANDER
APR 7500 7562 7470 7480 -0.25 2150
INTRADAY
LEVELS
SUPPORT SUPP.1
7446
SUPP. 2
7412
PIVOT
7504
Coriander short term
trend is bearish and May
continue in coming days.RESISTA
NCE
RES. 1
7538
RES. 2
7596
GUARGUM 5MT
FEB 6221 6272 6216 6268 0.58 8215
INTRADAY
LEVELS
SUPPORT SUPP. 1
6232
SUPP. 2
6196
PIVOT
6252
Guargum short term
trend is bearish and May
continue in coming days.RESISTA
NCE
RES. 1
6288
RES. 2
6308
CASTORSEED
FEB 3980 3993 3980 3980 0.10 11
INTRADAY
LEVELS
SUPPORT SUPP. 1
3976
SUPP. 2
3976
PIVOT
3984
Castorseed short term
trend is bearish and May
continue in coming days.RESISTA
NCE
RES. 1
3989
RES. 2
3997
Most Active Contract
3
NCDEX INDICES
Index ValuePre.
Close
%
Change
Castorseed 3987 3974 0.33
Chana - - -
Coriander 7480 7499 -0.25
Guargum5MT 6268 6263 0.58
Jeera 17895 17630 1.50
Mustard seed 3839 3820 0.50
Soybean 3033 3031 0.07
Turmeric 6768 6626 2.14
TOP GAINERS
Symbol Expiry Date Current Price Change Change %
JEERA 20-03-2017 17870.00 270.00 1.53%
TURMERIC 20-04-2017 6730.00 78.00 1.17%
SOYAMEAL-DOMESTIC 20-03-2017 24000.00 210.00 0.88%
REF SOYA OIL 20-02-2017 696.70 4.70 0.68%
TOP LOSERS
Symbol Expiry Date Current Price Change Change %
SUGAR M GRADE 20-03-2017 3804.00 -28.00 -0.73%
COTTON SEED OIL CAKE
AKOLA20-02-2017 2235.00 -14.00 -0.62%
SOY BEAN 20-02-2017 3020.00 -11.00 -0.36%
Commodities In News
4
ECONOMIC NEWS
President Pranab Mukherjee on Tuesday said the "favourable monsoon"
supplemented by "farmer-oriented schemes" of the government has
resulted in increased crop yields. "A favourable monsoon supplemented by
farmer-oriented schemes has increased the acreage and yield of most
Kharif crops," Mukherjee said while addressing the joint session of the two
houses of parliament here. "The sown area in the current Rabi season has
shown six per cent increase in comparison to last year," Mukherjee
said. The President also said: "My Government has taken various steps to
transform the lives of our farmers.“ "Pradhan Mantri Fasal Bima Yojana
expanded ambit of risk-coverage, doubled sum insured and facilitated
lowest-ever premium," he said.
India’s agricultural growth will accelerate to 4.1% in the current fiscal
from a sluggish 1.2% in drought-hit 2015-16, the Economic Survey said.
“Higher growth in agriculture sector is not surprising as the monsoon rains
were much better in the current year than the previous two years,” the
survey said. Monsoon was 12% in deficit in 2014-15 and 14% below
normal last year. Agriculture contributes about 14% to India’s economic
output, despite nearly half of the country’s population being involved in
farm-related activities. A poor monsoon has a ripple effect on the rural
economy and demand for consumer goods. Ramesh Chand, a member of
the government's premier think-tank Niti Aayog, had earlier this month
said that agricultural growth will touch 6% in 2016-17 with a10% growth
in kharif production as per first estimates at 135 million tonnes and
increase in rabi area by 6%. Agriculture minister Radha Mohan Singh had
also said agricultural growth will rebound this year. Healthy growth in
agriculture is also good news for the fast moving consumer goods segment,
which gets about a third of its sales from rural areas. The total area
coverage under rabi crops as on January 27 was 637.34 lakh hectares,
which is 6% higher than that in the corresponding week of last year.
Soybean futures extended weakness on NCDEX due to ample
supplies in the market as production during kharif is higher by more
than 57% this season compared to last year. Soyabean prices fell
further by tracking lower prices in international markets, pressured by
improving weather forecasts that have bolstered crop prospects in
Brazil, Argentina and Paraguay. The contract for February delivery was
trading at Rs 3021.00, down by 0.33% or Rs 10.00 from its previous
closing of Rs 3031.00. The open interest of the contract stood at
134840 lots. The contract for March delivery was trading at Rs
3078.00, down by 0.26% or Rs 8.00 from its previous closing of Rs
3086.00. The open interest of the contract stood at 94900 lots on
NCDEX.
Coriander futures showed mixed trend on NCDEX as April contracts
edged higher due to rising demand in the spot market, while May
contract edged lower on rising arrivals from major growing regions.
The contract for April delivery was trading at Rs 7535.00, up by 0.48%
or Rs 36.00 from its previous closing of Rs 7499.00. The open interest
of the contract stood at 14530 lots. The contract for May delivery was
trading at Rs 7540.00, down by 0.45% or Rs 34.00 from its previous
closing of Rs 7574.00. The open interest of the contract stood at 850
lots on NCDEX.
Turmeric futures traded higher on NCDEX on anticipation of good
demand from the stockists and traders at the spot market. Though,
some gains were capped on expectation of better supplies of new
turmeric crops from the producing belts. The contract for April delivery
was trading at Rs 6710, up by 1.27% or Rs 84 from its previous closing
of Rs 6626. The open interest of the contract stood at 13815 lots. The
contract for May delivery was trading at Rs 6640, up by 0.15% or Rs
10 from its previous closing of Rs 6630. The open interest of the
contract stood at 1755 lots on NCDEX.
Technical Outlook
5
BUY CORIANDER APRABOVE 7520 TARGET 7535 7595 7665 SL
BELOW 7490
BUY TURMERIC 20APR ABOVE 6770 TARGET 6800 6840 6890
SL BELOW 6722
BUY GUARGUM5 FEBABOVE 6283 TARGET 6313 6373 6423
SL BELOW 6233SELL CASTORSEED FEB BELOW 3970 TARGET 3955 3925 SL
ABOVE 4000
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