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DAILY AGRI COMMODITY REPORT

23 February 2017

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Market Views
MONT CLOS MONT CLOS
OPEN HIGH LOW % CHG VOL OPEN HIGH LOW % CHG VOL
H E H E

CORIANDER CASTORSEED

APR 6820 6894 6800 6800 0.12 6130 FEB - - - - - -

SUPPORT SUPP.1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2

6768 6737 - -

PIVOT Coriander short term PIVOT
INTRADAY INTRADAY
trend is bearish and May -
LEVELS LEVELS -
6831
continue in coming days.
RES. 1 RES. 2 RESISTA RES. 1 RES. 2
RESISTA
NCE NCE - -
6862 6925

TURMERIC GUARGUM 5MT

APR 6740 6998 6712 6860 1.81 5225 FEB 6955 7215 6955 7215 3.9 22805

SUPPORT SUPP.1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2

6715 6570 7041 6868

PIVOT Turmeric short term PIVOT Guargum short term
INTRADA INTRADAY
trend is bearish and May trend is bearish and May
Y LEVELS LEVELS 7128
6856
continue in coming days. continue in coming days.
RESISTA RES. 1 RES. 2 RESISTA RES. 1 RES. 2
NCE 7001 7142 NCE 7301 7388

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Most Active Contract
NCDEX INDICES
TOP GAINERS

Symbol Expiry Date Current Price Change Change % Pre. %
Index Value
Close Change

GUAR SEED 10 MT 20-03-2017 3430.00 88.00 2.63%
Castorseed 3946 3947 -0.03

TURMERIC 20-04-2017 6882.00 144.00 2.14%
Chana - - -

JEERA 20-03-2017 17395.00 200.00 1.16%
Coriander 6800 6792 0.12

TOP LOSERS

Symbol Expiry Date Current Price Change Change % Guargum5MT 7215 6944 3.9

SUGAR M GRADE 20-03-2017 3827.00 -50.00 -1.29%
Jeera 17400 17195 1.19

SOY BEAN 20-03-2017 2896.00 -18.00 -0.62% Mustard seed 3784 3792 -0.21

MAIZE -
FEED/INDUSTRIAL 20-03-2017 1412.00 -8.00 -0.56% Soybean 2891 2819 -0.92
GRADE

CORIANDER 20-04-2017 6810.00 -20.00 -0.29% Turmeric 6860 6738 1.81
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Commodities In News
ECONOMIC NEWS
 Turmeric futures edged up on NCDEX on improving exports
demand at the spot market. Country exported about 74,524 tons; up by  The Union Cabinet on Wednesday approved for signing an agreement
32% during April-Nov period compared to last year exports of 56,471 between India and Poland on cooperation in agriculture and allied sectors.
tons. Though, some gains were capped on improving supplies from the The agreement will cover exchange of information between the two
producing belts. Reports showed that the turmeric arrivals in the countries on various aspects, including health of crops, as per the
country increase 22% last week (13-17 February) compared to previous international trade requirements and threats posed by harmful organisms
week. The contract for April delivery was trading at Rs 6822.00, up by and diseases of crops, a government statement said. The two countries will
1.25% or Rs 84 from its previous closing of Rs 6738.00. The open also undertake joint economic initiatives, including agri-food trade. "It (the
interest of the contract stood at 12685 lots. agreement) also covers participation in fairs, exhibitions, seminars and
conferences related to agriculture and agri-food processing," the statement
 Copper futures edged down on MCX as investors exited their added. As per the proposed agreement, a Joint Working Group (JWG) will
positions in the industrial metal on strength in the US dollar. However, be set up to prepare plans of cooperation. The JWG will also provide
ongoing supply worries from industrial action in Chile and an solutions to problems that arise during the implementation of the
Indonesian export permit dispute capped some losses. A stronger agreement
greenback erodes buying power for those paying for dollar-
denominated commodities with other currencies. The contract for  Food and Public Distribution minister Ram Vilas Paswan has said that
February delivery was trading at Rs 402.05, down by 0.79% or Rs 3.20 the government will take all necessary steps to ensure payment of
from its previous closing of Rs 405.25. The open interest of the minimum support prices (MSP) to farmers and may review the import duty
contract stood at 12072 lots. The contract for April delivery was trading on wheat if required. “Wheat imports has touched 55 lakh tonnes till date.
at Rs 405.45, down by 0.75% or Rs 3.05 from its previous closing of With domestic wheat crop to be harvested from March , we may review to
Rs 408.50. increase import duty on wheat if required,” he said adding that he has yet to
write a letter to the Finance ministry in this regard. Since 2007 till 2015,
 Soybean futures traded lower on NCDEX on ample supply in the there was no import duty on wheat . It was imposed in December of 2015
domestic spot market. Further, favorable growing weather in South and by December 2016 it was again brought to zero to increase its
America stoked expectations of ample global supply, also influenced availability in domestic market. “Sowing of wheat grew by 7% and the
soyabean prices at futures trade here. The contract for March delivery wheat production is expected to be 965 lakh tonne according to the second
was trading at Rs 2894.00, down by 0.86% or Rs 25.00 from its advance estimate. Out of this, the Food Department has set the
previous closing of Rs 2919.00. The open interest of the contract stood procurement target at 330 lakh tonne for the ensuing rabi marketing season
at 203160 lots. The contract for April delivery was trading at Rs 2017-18,”added Paswan. He informed that in a span of around 2 months,
2963.00, down by 0.8% or Rs 24.00 from its previous closing of Rs 40 lakh tonne wheat has been imported and another 15 lakh tonnes has
2987.00. been contracted. “It has been experienced when there is price-rise the
benefit is taken by the traders and consumers are exploited.

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Technical Outlook

SELL CORIANDER APRBELOW 6765 TARGET 6750 6690 6620 BUY TURMERIC 20APR ABOVE 6870 TARGET 6900 6940 6990
SL ABOVE 6795 SL BELOW 6822

SELL GUARGUM5 20MARBELOW 6970 TARGET 6940 6880
6830 SL ABOVE 7020

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Date: 2017-02-22 20:48+05:30