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DAILY AGRI COMMODITY REPORT

16 SEPTEMBER 2014
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Daily Wrap Up
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MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
DHANIYA
OCT 11550 11560 11466 11515 +0.32 12070
INTRADAY
LEVELS
SUPPORT SUPP.1
11467
SUPP. 2
11420
PIVOT
11514
Dhaniya short term
trend is down, further
more downside is
expected in comimg
days.
RESISTAN
CE
RES. 1
11561
RES. 2
11608
CASTORSEED
OCT 4040 4137 4028 4125 +2.66 118590
INTRADAY
LEVELS
SUPPORT SUPP. 1
4050
SUPP. 2
3974
PIVOT
4093
Castorseed short term
is up, Prices expected
to go up in coming
days.
RESISTAN
CE
RES. 1
4169
RES. 2
4212
TURMERIC
OCT 6080 6170 6040 6050 -0.46 7700
INTRADAY
LEVELS
SUPPORT SUPP. 1
6005
SUPP. 2
5959
PIVOT
6085
Turmeric price is in
down trend and may
continue in coming
days.
RESISTAN
CE
RES. 1
6131
RES. 2
6211
GUARGUM
OCT 15750 15950 15500 15790 -0.57 6967
INTRADAY
LEVELS
SUPPORT SUPP. 1
15543
SUPP. 2
15297
PIVOT
15747
Guargum Short term
trend is down
Expecting price may go
down in coming days.
RESISTAN
CE
RES. 1
15993
RES. 2
16197
Movers and Shakers
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TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
TURMERIC 19-09-2014 5938.00 -170.00 -2.78%
LIGHT SWEET CRUDE OIL 19-09-2014 5565.00 -46.00 -0.82%
CORIANDER 19-09-2014 11190.00 -22.00 -0.20%
JEERA 19-09-2014 10690.00 -20.00 -0.19%
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
REFINED SOY OIL 19-09-2014 627.00 17.35 2.85%
CASTOR SEED NEW 19-09-2014 4078.00 85.00 2.13%
COTTON SEED OIL CAKE
AKOLA
19-09-2014 1695.00 25.00 1.50%
SOYABEAN 20-10-2014 3210.00 39.00 1.23%
RAPESEED-MUSTARD SEED 19-09-2014 3565.00 34.00 0.96%
CHANA 19-09-2014 2770.00 25.00 0.91%
NCDEX INDICES
Index Value
Pre.
Close
%
Change
CASTORSEED 4125 4118 2.66
CHANA 2813 2804 0.32
CORIANDER 11515 11478 0.32
COTTON SEED 1399 1416 -1.2
JEERA 10780 10775 0.05
MUSTARD SEED 3578 3587 -0.25
SOYABEAN 3210 3177 1.04
TURMERIC 6050 6078 -0.46
Commodities In News
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ECONOMIC NEWS
The wholesale price index (WPI)-based inflation fell
substantially to a five-year low of 3.74% in August from 5.19%
in July as all broad categories showed decline in the rate of
price rise over this period. The inflation rate, which stood at
6.99 per cent in August, 2013, is well below RBI's comfort
zone of 5% and will likely trigger calls from industry for a cut
in the repo rate. Data released last week on Friday show that
retail inflation, as measured by the Consumer Price Index, also
declined marginally to 7.8% in August, fuel and power and
manufactured goods--showed decline in the WPI inflation
numbers. While inflation in primary articles was down 3.89%
in August from 6.78% in the previous month, fuel and power
inflation fell 4.57% from 7.40%, while manufactured items
declined marginally to 3.45% from 3.6%. Food inflation, the
main segment for which the government has been drawing flak,
decreased to 5.15% from 8.43% during the period. However,
inflation in potatoes was up 61.61 per cent in August from
46.41 per cent a month ago.
India economy is likely to grow at a rate of 5.6% in 2014-15.
RBI is unlikely cut interest rates this year, the apex bank may
consider a cut in policy rates in the first quarter of the next
calendar year. the agricultural growth is expected to remain
steady despite a delay in the monsoons. The latter is expected
to grow by 4.7 percent in FY15, The growth in the services
sector is expected to remain pretty much at similar levels as
was reported last time. The sector is likely to grow by 6.9
percent in FY15. Inflation is expected to ease somewhat
compared to last year and the annual average CPI inflation rate
is projected at 7.8 percent in FY15.
Turmeric settled down -0.46% at 6050 due to sluggish local and export
demand. Pressure also seen due to higher sowing in Telangana and huge
carryover stocks. Further, ongoing revival in Monsoon rains in growing
states of Andhra Pradesh and Tamil Nadu too weighed on turmeric prices.
At Erode market sources reported arrivals at 4000 quintals, higher by 1000
quintals as against previous day. At Nizamabad market total arrivals are at
1500 quintals, unchanged as compared to previous days arrival. The
sowing of new crop is still a major concern in states like Andhra Pradesh,
Telangana and Tamilandu due to delayed monsoon rainfall and poor price
realization by cultivators. In Nizamabad, a major spot market in AP,the
price ended at 6135.5 rupees dropped -43.65 rupees.
Castorseed prices rose by +2.66 per cent on Monday at the National
Commodity & Derivatives Exchange Limited (NCDEX) as a result of the
rise in demand from consuming industries against restricted arrivals in
domestic markets which in turn encouraged the investors to enlarge their
holdings. At the NCDEX, castor seed futures for September 2014 contract
were trading at Rs. 4,006 per quintal tonnes, up by 0.91 per cent, after
opening at Rs. 3,980 against the previous closing price of Rs. 3,970. It
touched the intra-day high of Rs. 4,019 till the trading. Castor is a non-
edible oilseed crop; basically a cash crop, with average 46 per cent oil
recovery.
Sugar futures traded on a negative note last week and made a new contract
low of Rs. 2863 on weak physical demand and abundant supplies and
settled 2.79% lower w-o-w. Selling pressure from the sugar mills also
added to the downside pressure. The government increased import duty to
25% from 15%. Mills in UP have threatened to suspend crushing for the
next season starting October till the government does not implement the
cane price Subsidies of Rs. 2014 stands at 4.87 mn ha as against 5.03 mn
ha last year.
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Fundamental And Mandi Report : Castor seed
STOCK POSITION AT NCDEX
WAREHOUSES
National Market Update
Smart recovery in cash market was witnessed on Monday as expected.
Bueyrs interest at lower level supported market to recover once again.
However, current recovery is not the sign of uptrend at this point of time.
Area under castor may touch 10 lakh ha this year. Some damage report
from Gujarat is not going to influence price. Market has tried just to
recover earlier loss. Overall sentiment still remains bearish. Almost 90
percent area under castor seed has been covered so far. As on 5th sept, area
was recorded at 9.27 lakh ha. against 7.55 lakh ha last year till
corresponding period. Overall area so far is around 1.7 lakh ha. higher than
last year in sept first week. Sowing of castor seed is continues in Gujarat
and Andhra Pradesh and also in some parts of Rajasthan.Castor seed x-
mandi price in Gujarat has declined from Rs 40750 per tonne to Rs 40900
per tonne at previous trading session. Fresh buying at this level is expected
and it may support price to some extent. Despite decline in prices, it is still
higher from the price prevalent in Sept, 2013, almost 17.82 percent lower
than current price. Castor meal FOR is being quoted at Rs 6350 per tonne,
moderately higher (Rs 6250 per tonne) than previous week. Castor meal
export price for bulk quantity too has increased slightly.
International Market Report
Major buyers of meal includes South Korea, Taiwan, Japan, France and
China. They collectively brought 22001 tonne castor meal in August at an
average Fob price of$107 per tonne. In August total meal export declined by
28.80 percent in comparison to August last year. As buyers remain inactive
FOB price is bound to stay steady in the third week of August. Export quote
for meal decreased slightly by $1 to $107 per tonne today. However, price of
castor oil in Rotterdam too has increased from $1720 to $17209per metric
tonne during last one week. Buyers like EU, USA and China remain
sidelined.
CENTER 15-Sep-14 13-Sep-14 %Change
SUMERPUR 160 NA -
JODHPUR 360 160 200
RAJKOT 335 360 -25
GONDAL 283 150 133
PATAN 495 320 -175
DEESA 320 120 200
KADI CLOSED 248 -
SPOT QUOTES
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COMMODITY NAME LOCATION PRICE
Cotton Seed Oilcake Kadi 1758.35
Crude Palm Oil Kandla 456.55
Guar Gum Jodhpur 15542.55
Guar Seed 10 MT Jodhpur 5584.1
Guarseed Jodhpur 5584.1
Guarseed Bikaner 5490
Gur Muzaffar Nagar 1127.55
Jeera Unjha 10850
Mustardseed Jaipur 3707.4
Mustardseed Alwar 3689.85
Ref Soya Oil Nagpur 632.05
Ref Soya Oil Indore 630
COMMODITY NAME LOCATION PRICE
Bajra Jaipur 1250
Barley Jaipur 1534.65
Castor Seed Disa 4064.3
Castor Seed 1 MT Disa 4064.3
Chana Bikaner 2750
Chana Delhi 2908.35
Chana Indore 2869.55
Chana 1 MT Delhi 2908.35
Chilli Guntur 7446.15
Chilli Teja Khammam 10314.25
Coriander Kota 11191.1
Cotton Kadi 18764.05
Cotton Seed (Industrial Grade) Akola 2132
Cotton Seed Oilcake Akola 1721.25
Recommendations
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SELL DHANIYA(OCT) BELOW 11475 TGT 11445-11395 SL 11525 SELL GUARGUM(OCT ) BELOW15720 TGT 15670-15570 SL 15810
BUY CASTORSEED (OCT) ABOVE 4145 TGT 4175-4225 SL 4095 SELL TERMERIC(OCT) BELOW 6030 TGT 5980-5880 SL 6180
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