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DAILY AGRI COMMODITY REPORT

24 June 2015

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Market Views
MONTH

OPEN

HIGH

LOW

CLOSE

% CHG

VOL

MONTH

OPEN

HIGH

CORIANDER

JULY

12050

12400

11917

SUPPORT

SUPP.1

SUPP. 2

11971

11703

12240

12185
RESISTAN
CE

RES. 1

RES. 2

12454

12669

+1.67

22050

Coriander short term
trend is up and May
continue in coming
days.

JULY

3969

4021

3957

SUPPORT

SUPP. 1

SUPP. 2

3948

3920

6950

7126

6880

SUPPORT

SUPP. 1

SUPP. 2

6859

6747

6972

6993
RESISTAN
CE

RES. 1

RES. 2

7105

7239

% CHG

VOL

-0.45

104850

PIVOT

LEVELS

3984
RESISTAN
CE

RES. 1

RES. 2

4012

4048

Castorseed short term
trend is down and May
continue in coming
days..

GUARGUM

PIVOT

INTRADAY
LEVELS

3975

INTRADAY

TURMERIC

JULY

CLOSE

CASTORSEED

PIVOT

INTRADAY
LEVELS

LOW

+0.11

13675

Turmeric short term
trend is down and May
continue in coming
days.

JULY

9620

9950

9450

SUPPORT

SUPP. 1

SUPP. 2

9523

9237

9810

PIVOT

INTRADAY
LEVELS

9737
RESISTAN
CE

RES. 1

RES. 2

10023

10237

+1.87

15013

Guargum short term
trend is up and May
continue in coming
days.

2

Most Active Contract
TOP LOSERS
SYMBOL

EXPIRY DATE

NCDEX INDICES

CURRENT
PRICE

CHANGE

CHANGE
%

CHANA

20-07-2015

4109.00

-78.00

-1.86%

CASTOR SEED NEW

20-07-2015

3975.00

-11.00

-0.28%

COTTON SEED OIL CAKE
AKOLA

20-07-2015

1791.00

-2.00

Index

Value

Pre.
Close

%
Change

CASTORSEED

3975

3993

-0.45

CHANA

4109

4190

-1.93

CORIANDER

12240

12039

+1.67

GUARGUM

9810

9610

+1.87

JEERA

15905

15810

+0.60

4064

4032

+0.79

-0.11%

TOP GAINERS
SYMBOL

EXPIRY DATE

CURRENT
PRICE

CORIANDER

20-07-2015

12240.00

155.00

1.28%

RAPESEED-MUSTARD
SEED

20-07-2015

4064.00

26.00

0.64%

SOYABEAN

20-08-2015

3479.00

CHANGE CHANGE %

20.00

0.58%

BARLEY

20-07-2015

1232.50

7.00

0.57%

MUSTARD
SEED

REFINED SOY OIL

20-08-2015

581.20

1.20

0.21%

SOYABEAN

3479

3454

+0.72

TURMERIC

20-07-2015

6972.00

12.00

0.17%

JEERA

20-07-2015

15905.00

5.00

0.03%

TURMERIC

9672

6964

+0.11

3

Commodities In News
ECONOMIC NEWS
Chana futures slumped right from the start amid these expectations and
traders alsoeyed good rains in states like Maharashtra and MP. Kharif
sowing is on track and tradersare cutting their longs in Chana. Spot
Chana dropped to Rs 4300 per quintal in Delhi yesterday– its lowest
levels in nearly two months for the commodity. The benchmark NCDEX
JulyChana futures also dropped amid this correction in spot. The futures
are trading at Rs4108 per quintal, down 2% on the day. The counter
neared Rs 4000 mark in early moves.The IMD noted in its latest weekly
update that conditions arefavourable for further advance of southwest
monsoon into remaining parts of north Arabiansea, Gujarat state,
Chhattisgarh, Jharkhand, entire Bihar, Uttarakhand, Himachal
Pradesh,Jammu & Kashmir, most parts of Madhya Pradesh and some
parts of Uttar Pradesh, Punjab,Haryana, Chandigarh & Delhi and
Rajasthan during next 3-4 days.
The NCDEX guar futures slumped on monday as traders are
anticipating a good harvest incase the rainfall continues its current trend.
The sowing has started well and futures arelikely to witness coninuted
selling pressure. However, steady moves were seen in the commodity
yestersay.

Jeera settled down as moderate rains in Gujarat and prospects of
Monsoon reaching soon kept sentiments weak. Low demand was noted
as traders waited for some more dips before initiating fresh demand in
the mandis. There is concern over production due to untimely rainfall in
March in Gujarat and Rajasthan. As per Government data, 2.41 lakh
hectare of cumin crop is damaged in Rajasthan. As per third advance
estimate of Gujarat State, production is expected at 1.58 lakh tonnes in
2014-15 which is 54.3 per cent lower compared to last years’ production
of 3.46 lakh tonnes.

Better-than-expected monsoon rains in the past two weeks have helped
farmers in several parts of India sow cotton, pulses and oilseeds on time,
but the country's weather office is still sticking to its forecast of a likely
drought.Although a delayed arrival of the monsoon had worried farmers,
more than two-thirds of the country has now received normal or abovenormal levels of rainfall so far this monsoon season, which starts on June
1.Overall, rainfall was 16 per cent above normal as of Monday, helping fill
up some reservoirs in a country where over half the farmland lacks
irrigation systems.Agriculture accounts for just about 15 per cent of India's
$2 trillion economy, but three-fifths of its 1.25 billion people depend on it
for their livelihood.Officials at the India Meteorological Department (IMD)
say the northern states will receive heavier monsoon rains this week but
that current weather patterns still point to total rains of just 88 per cent of
the long-term average, as predicted in early June, due to an El Nino
weather pattern.India received a similar level of rains last year but the
government did not declare a drought as the monsoon picked up in the
latter part of the season, underscoring its highly unpredictable nature,
which keeps farmers on edge.Skymet has rejected the IMD's prediction for
2015 and has forecast bountiful rains.The recent downpour has helped rice
farmers accelerate preparations for planting, which will lead to a greater
area of rice cultivation this year, said B V Krishna Rao, managing director
at Pattabhi Agro Foods, India's top non-basmati rice exporter.Soybean
cultivation has also been proceeding at full speed in key producing states
Maharashtra and Madhya Pradesh, which could drive up national output by
10 percent to over 10 million tonnes this year, said Pravin Lunkad,
president of industry body the Solvent Extractors' Association of
India.Reflecting the sowing progress, soybean, cotton and chickpea futures
inched down on Monday.Higher output of soybean and pulses is good
news for India, which spends billions of dollars importing the pulses and
edible oil widely used in the country's cooking.

4

Fundamental Watch : Sugar
National Market Update

The Karnataka govt. had put forthward a proposal to the centre asking for a
subsidy of Rs 900 crore which could be utilized for meeting up the pending
cane arrears by local sugar millers in the state.

SUGAR PRICES AT KEY SPOT MARKET
CENTER

23-June-15

22-June-15

Change

DELHI

2500

2480

20

MUMBAI

2592

2596

-4

VIJAYWADA

2720

2720

UNCH

NAGPUR

NR

2550

-

The Indonesian Sugar Association forecasted the country’s total sugar
(white) production in between 2.45-2.60 million tons for 2015-16 which was
last recorded at 2.58 million tons in 2014-15.

CHENNAI

2275

2275

UNCH

As per the UNICA report, Brazil’s Centre south region had churned around
40.1 MT of sugarcane in the second half of May, 2015 to produce 1.97 MT of
sugar during the same period. While, an y-o-y comparison shows that the
region had crushed 38 MT of sugarcane last year to produce 2.02 MT of sugar
in the corresponding period.

AMBIKAPUR

3835

3835

UNCH

DHAMPUR

2445

2455

-10

India exported 57.5 thousand tons of sugar for the week ending 14th Jun,
2015 which was 52% higher than the sugar exported last week.
The Cabinet Committee on Economic Affairs (CCEA) announced interest
free loan worth Rs 6000 crore to the Indian sugar millers who had accrued
pending cane arrears to the local farmers in the country.
The Telengana govt. is expected to impose entry tax on sugar import as the
neighboring states such as Karnataka, Maharashtra and Tamil Nadu are
dumping their excessive sugar onto the state leading to a further fall in local
sugar prices.
Sugar prices traded steady to weak amid surplus sugar stock position
available in the market.

5

Technical Outlook

BUY CORIANDER JULY ABOVE 12400 TARGET 12425 12465 SL
BELOW 12370

BUY GUARGUM JULY ABOVE 9950 TARGET 10000 10060 SL
BELOW 9890

SELL TURMERIC JULY BELOW 6925 TARGET 6885 6825 SL
ABOVE 6985

SELL CASTORSEED JULYBELOW 3950 TARGET 3925 3895 SL
ABOVE 3980

6

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