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DAILY AGRI COMMODITY REPORT

17 February 2017

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Market Views

 

MONT

OPEN

HIGH

 

LOW

CLOS

% CHG

VOL

MONT

OPEN

 

HIGH

LOW

 

CLOS

% CHG

 

VOL

 

H

 

E

H

 

E

 
 

CORIANDER

   

CASTORSEED

 
 

APR

 

6699

6795

   

6691

6752

 

1.32

 
  • 3390 FEB

-

-

-

-

-

-

   

SUPPORT

SUPP.1

 

SUPP. 2

     

SUPPORT

SUPP. 1

SUPP. 2

   
 

6697

 

6642

-

-

PIVOT

 

INTRADAY

     

PIVOT

 

Coriander short term

INTRADAY

     

LEVELS

6746

trend is bearish and May continue in coming days.

LEVELS

-

 

-

   

RESISTA

RES.

1

 

RES. 2

 

RESISTA

RES.

1

RES. 2

 

NCE

6801

6850

NCE

-

-

 

TURMERIC

 

GUARGUM 5MT

 
 

APR

 

6980

7050

   

6910

6930

 

-2.83

 
  • 2470 FEB

6661

6702

6641

6645

0.88

265

   

SUPPORT

SUPP.1

   

SUPP. 2

     

SUPPORT

SUPP. 1

SUPP. 2

   
 

6876

6823

6623

6601

   

Turmeric short term

Guargum short term

 

INTRADA

     

PIVOT

 

INTRADAY

     

PIVOT

Y LEVELS

 

RESISTA

RES.

1

 

RES. 2

6963

 

trend is bearish and May

continue in coming days.

LEVELS

RESISTA

RES.

1

RES. 2

6662

trend is bearish and May continue in coming days.

NCE

7016

7103

 

NCE

6684

6723

Most Active Contract

 

TOP GAINERS

 

Symbol

Expiry Date

Current Price

Change

Change %

28-02-2017

1020.00

10.00

0.99%

20-04-2017

6751.00

64.00

0.96%

20-03-2017

3868.00

8.00

0.21%

 

TOP LOSERS

 

Symbol

Expiry Date

Current Price

Change

Change %

20-02-2017

3225.00

-34.00

-1.04%

20-02-2017

1803.00

-17.00

-0.93%

20-02-2017

681.45

-6.25

-0.91%

20-04-2017

6940.00

-52.00

-0.74%

 

NCDEX INDICES

 

Index

Value

Pre.

%

Close

Change

Castorseed

 
  • 3918 3888

0.77

Chana

-

-

-

Coriander

 
  • 6752 6664

1.32

Guargum5MT

 
  • 6645 6587

0.88

Jeera

16960

17040

-0.47

Mustard seed

3793

 
  • 3810 -0.45

Soybean

2947

 
  • 2971 -0.81

Turmeric

6930

 
  • 6988 -0.83

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Commodities In News

 

ECONOMIC NEWS

  • Coriander futures edged higher on NCDEX as speculators built up

 

fresh positions, tracking improved demand in the spot market. Besides, tight stock positions following restricted arrivals from major producing

  • The second edition of the international spice conference being held at Thiruvananthapuram has stressed the significance to traceability in

regions also added support to coriander prices’ uptrend. The contract for April delivery was trading at Rs 6744.00, up by 1.2% or Rs 80.00 from its previous closing of Rs 6664.00. The open interest of the

boosting consumer satisfaction and ensuring sustainable growth of the spices sector. Talking on the theme of disruption in spice quality standards, European Spice Association chairman Nils Meyer Pries said the road ahead

contract stood at 23040 lots. The contract for May delivery was trading

for quality assurance in spices is the convergence of world for

at Rs 6824.00, up by 1.01% or Rs 68.00 from its previous closing of Rs 6756.00. The open interest of the contract stood at 3020 lots on NCDEX.

harmonisation of standards, and developing an information system where the consumer can examine quality and safety of any produce with reference to its origin and international standards. He said digital platforms could be

  • Soybean futures traded marginally lower on NCDEX on ample

put to use to manage traceability by collecting, storing, processing and disseminating data regarding farming, harvesting, processing, packaging

supply in the domestic spot market. Further, the harvest of an all-time

and distribution. Cost effective numeric and alphanumeric bar coding,

high crop in Brazil, too added pressure to soyabean prices. The contract for February delivery was trading at Rs 2970.00, down by 0.03% or Rs

Matrix bar coding and other labels when linked with automated systems or mobile technology allows immediate retrieval of product information from

1.00 from its previous closing of Rs 2971.00. The open interest of the

anywhere, Nils Meyer said at the conference hosted by All India Spices

contract stood at 11760 lots. The contract for March delivery was

Exporters Forum.

trading at Rs 3019.00, down by 0.07% or Rs 2.00 from its previous closing of Rs 3021.00. The open interest of the contract stood at 199950 lots on NCDEX.

  • The government has forecast a robust 8% growth in farm output this year after bountiful monsoon rains, raising prospects of stronger rural demand for consumer goods, automobiles and gold, and strong economic

  • Turmeric futures showed mixed trend on NCDEX as the April

growth. The strong growth comes after a drought ravaged the fields for two

contracts traded lower on rising arrivals as the harvesting is going on in

key producing states. Moreover, turmeric acreage in Telangana and Andhra Pradesh was higher this year as compared to last year. Production of turmeric in Telangana is seen rising 35% on year to 251,000 tn 2016-17 (Jul-Jun) due to favourable rains, while May contracts traded higher on improving domestic and up-country demand at the spot market. Country exported about 74,524 tons; up by 32% during April-Nov period compared last year exports of 56,471 tons. The contract for April delivery was trading at Rs 6962, down by 0.37% or Rs 26 from its previous closing of Rs 6988.

years and heightened rural distress, but the expected output betters the record production of 2013-14 by 2.6%. “Higher food grain production is good news for economy especially rural. This should help stabilise prices,"

said Ashok Gulati, agricultural economist and former chairman of the Commission for Agricultural Costs and Prices. However, he said it was important to wait for the rabi harvest to get a clear picture. The rabi crop is progressing well, but it can suffer if there is unseasonal rain or hailstorms on the eve of the harvest. Gulati said government must ensure that official agencies procure crops if prices tumble. Total foodgrain output will be 271.98 million tonnes, according to the agriculture ministry’s second advance estimates of major crops

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Technical Outlook

BUY CORIANDER APR ABOVE 6780 TARGET 6795 6835 6800 SL BELOW 6730 SELL TURMERIC 20APR BELOW
BUY CORIANDER APR ABOVE 6780 TARGET 6795 6835 6800
SL BELOW 6730
SELL TURMERIC 20APR BELOW 6900 TARGET 6885 6845 6745
SL ABOVE 6950
SELL GUARGUM5 20MAR BELOW 6640 TARGET 6625 6575
6500 SL BELOW 6680
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