DAILY AGRI COMMODITY REPORT

10 January 2017

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Market Views
MONT
H

OPEN

HIGH

CLOS
E

LOW

% CHG

VOL

MONT
H

OPEN

HIGH

7585

7600

7431

SUPPORT

SUPP.1

SUPP. 2

7440

7351

7530

PIVOT

INTRADAY
LEVELS

7520
RESISTA
NCE

RES. 1

RES. 2

7609

7689

-0.36

3600

Coriander short term

trend is bearish and May
continue in coming days.

SUPPORT

SUPP. 1

SUPP. 2

6800

6800

6750

SUPPORT

SUPP.1

SUPP. 2

6733

6716

RES. 1

RES. 2

6783

66816

RES. 1

RES. 2

GUARGUM

6750

6766
RESISTA
NCE

VOL

LEVELS

RESISTA
NCE

PIVOT

INTRADA
Y LEVELS

% CHG

PIVOT

INTRADAY

TURMERIC

MAY

CLOS
E

CASTORSEED

CORIANDER

JAN

LOW

-0.24

15

Turmeric short term

trend is bearish and May
continue in coming days.

JAN

6370

6395

6247

SUPPORT

SUPP. 1

SUPP. 2

6213

6156

6271

PIVOT

INTRADAY
LEVELS

6304

RESISTA
NCE

RES. 1

RES. 2

6361

6452

-1.43

4585

Guargum short term

trend is bearish and May
continue in coming days.

Most Active Contract

NCDEX INDICES
TOP GAINERS

Symbol

Expiry Date

Current Price

Change

Change %

JEERA

20-01-2017

18520.00

435.00

2.41%

29 MM COTTON

SUGAR M GRADE

20-01-2017

20-03-2017

20170.00

3854.00

190.00

34.00

Index

Value

Pre.
Close

%
Change

Castorseed

Chana

Coriander

7240

7254

-0.19

Guargum5MT

6271

6362

-1.43

Jeera

18530

18335

1.06

Mustard seed

4291

4295

-0.09

Soybean

2994

3028

-1.12

Turmeric

6738

6752

-0.21

0.95%

0.89%

TOP LOSERS
Symbol

Expiry Date

Current Price

Change

Change %

WHEAT

20-01-2017

1864.00

-26.00

-1.38%

GUAR SEED 10 MT

20-01-2017

3270.00

-44.00

-1.33%

CORIANDER

SOY BEAN

20-01-2017

20-01-2017

7176.00

2997.00

-64.00

-24.00

-0.88%

-0.79%

Commodities In News
ECONOMIC NEWS
Turmeric futures traded higher on NCDEX on anticipation of good
physical demand at the spot market. Though, expectations of increasing
production in coming harvesting season in the producing regions too
fuelled the uptrend. The contract for April delivery was trading at Rs
6778, up by 0.39% or Rs 26 from its previous closing of Rs 6752. The
open interest of the contract stood at 13250 lots. The contract for May
delivery was trading at Rs 6780, up by 0.21% or Rs 14 from its
previous closing of Rs 6766. The open interest of the contract stood at
930 lots on NCDEX.
Soybean futures traded lower on NCDEX on expectation of higher
arrivals from the producing belts. Further, higher production estimates
by SOPA this season too fuelled the downtrend. Soybean prices fell
further by good rainfall forecasts in the month of January in the main
soybean growing states of Brazil. Though, some losses were capped by
rising demand from the bulk buyers and oil millers. The contract for
January delivery was trading at Rs 3000.00, down by 0.92% or Rs
28.00 from its previous closing of Rs 3028.00. The open interest of the
contract stood at 74120 lots. The contract for February delivery was
trading at Rs 3045.00, down by 0.85% or Rs 26.00 from its previous
closing of Rs 3071.00. The open interest of the contract stood at 97590
lots on NCDEX.
Jeera futures traded lower on NCDEX on account of reports of
higher acreage and good climatic condition for a good harvest in the
producing regions. However, some losses were capped increasing
domestic as well as export demand at the spot market. The contract for
January delivery was trading at Rs 18285, down by 0.27% or Rs 50.00
from its previous closing of Rs 18335. The open interest of the contract
stood at 2889 lots. The contract for March delivery was trading at Rs
16960, down by 0.47% or Rs 80.00 from its previous closing of Rs
17040. The open interest of the contract stood at 2727 lots on NCDEX.

The government does not have any immediate plans to cut import duty
on sugar as the country would have sufficient supply of the sweetener
considering fall in consumption this year and a likely bumper crop next
year. The government is also keeping a close watch on sugar futures
trading to keep a check on speculative activity and ensure no spike in retail
price, which at present is Rs 40/kg. The import duty on sugar at present is
40 per cent and no overseas purchase is taking place. "I don't think we
would have to import sugar as we are going to have adequate stocks in the
domestic market. So, there is no question of reducing the import duty at
this point of time," a senior Food Ministry official told PTI. There has been
a fall in sugar consumption in the last two months by 4-5 lakh tonnes. So,
this year's total consumption would actually come down to last year's level
of 25 million tonnes from the earlier projection of 25.5 million tonnes for
2016-17 marketing year (October-September), the official said.
Indias export of oil meals more than doubled in December 2016 mainly
driven by high demand of non-genetically modified (GMO) soybean meal
from France, said Solvent Extractors Association of India. The country
exported 1,94,309 tons in December 2016, an increase of 130% from
84,218 tons reported same period last year. France imported 1,06,708 tons
of oilmeals as compared to 1,956 tons last year, consisting of 1,03,650 tons
of soybean meal and 3,058 tons of castor meal. Japan too recorded a
significant jump in imports at 54,833 tons as compared to 6,500 tons last
year, consisting of 50,632 tons of soybean meal, 3,773 tons of rapeseed
meal and 428 tons of castor meal. On a month on month basis, the export
of soyabean meal jumped to 1,60,949 tons from 51,805 in November 2016.
However, the overall export of oilmeals during April to December 2016
was down 13% at 8,56,798 tons compared to 9,87,842 tons during the same
period of last year. Among the major importers of oilmeals from India,
South Koreas import during April-December period declined to 4,52,099
tons from 6,16,691 tons in the corresponding period last year.

Technical Outlook

SELL CORIANDER APRBELOW 7425 TARGET 7410 7350 7280

SL ABOVE 7455

SELL TURMERIC 20APR BELOW 6720 TARGET 6690 6650 6600

SL ABOVE 6768

SELL GUARGUM5 FEBBELOW 6300 TARGET 6270 6210 6160

SL ABOVE 6350

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