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DAILY AGRI COMMODITY REPORT 13 January 2017

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Market Views MONT H

OPEN

HIGH

CLOS E

LOW

% CHG

VOL

MONT H

OPEN

HIGH

7739

7742

7691

SUPPORT

SUPP.1

SUPP. 2

7699

7669

7729

PIVOT

INTRADAY LEVELS

7720 RESISTA NCE

RES. 1

RES. 2

7750

7771

0.22

1260

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

FEB

4180

4237

4147

SUPPORT

SUPP. 1

SUPP. 2

4138

4097

6650

6666

6630

SUPPORT

SUPP.1

SUPP. 2

6618

6606

LEVELS

4187 RESISTA NCE

6630

6642 RESISTA NCE

RES. 1

RES. 2

6654

6678

% CHG

VOL

RES. 1

RES. 2

4228

4277

-

315

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

GUARGUM 5MT

PIVOT

INTRADA Y LEVELS

4179

PIVOT

INTRADAY

TURMERIC

MAY

CLOS E

CASTORSEED

CORIANDER

APR

LOW

-0.27

55

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

JAN

6300

6341

6295

SUPPORT

SUPP. 1

SUPP. 2

6285

6267

6303

PIVOT

INTRADAY LEVELS

6313

RESISTA NCE

RES. 1

RES. 2

6331

6359

0.83

930

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

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Most Active Contract NCDEX INDICES TOP GAINERS

Index

Value

Pre. Close

Castorseed

4179

4179

-

0.14%

Chana

-

-

-

4.00

0.06%

Coriander

7305

7319

-0.19

Guargum5MT

6303

6251

0.83

Jeera

18490

18420

0.38

Mustard seed

4062

4090

-0.68

Soybean

2990

2981

0.3

Turmeric

6610

6608

0.03

Symbol

Expiry Date

Current Price

Change

Change %

COTTON SEED OIL CAKE AKOLA

20-01-2017

2177.00

16.00

0.74%

MAIZE FEED/INDUSTRIAL GRADE

20-02-2017

1436.00

2.00

TURMERIC

20-04-2017

6610.00

% Change

TOP LOSERS Symbol

Expiry Date

Current Price

Change

Change %

CORIANDER

20-01-2017

7305.00

-20.00

-0.27%

RAPESEED-MUSTARD SEED

20-01-2017

4062.00

-33.00

-0.81%

SUGAR M GRADE

20-03-2017

3876.00

-1.00

-0.03%

BARLEY

20-01-2017

1825.00

-3.00

-0.16%

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Commodities In News ECONOMIC NEWS  Coriander futures showed mixed trend on NCDEX as January contract edged lower due to subdued demand at the spot market while, April contract edged higher on limited arrivals from major producing belts. The contract for January delivery was trading at Rs 7301.00, down by 0.25% or Rs 18.00 from its previous closing of Rs 7319.00. The open interest of the contract stood at 2070 lots.  Soybean futures edged higher on NCDEX due to bargain buying and increasing demand from the bulk buyers and oil millers at the spot market. Though, some gains were capped on higher production estimates by SOPA this season. The contract for January delivery was trading at Rs 2999.00, up by 0.6% or Rs 18.00 from its previous closing of Rs 2981.00. The open interest of the contract stood at 18970 lots.

 Jeera futures edged higher on NCDEX, tracking rising demand from the stockists and traders at the spot market. Further, fresh export enquiries from China also added support to jeera prices’ uptrend. The contract for January delivery was trading at Rs 18495, up by 0.41% or Rs 75.00 from its previous closing of Rs 18420. The open interest of the contract stood at 1248 lots. The contract for March delivery was trading at Rs 17000, up by 0.06% or Rs 10.00 from its previous closing of Rs 16990.  Turmeric futures edged up on NCDEX on anticipation of rising physical as well as export demand at the spot market. Though, some gains were capped as new season turmeric crop has now entered into the markets in South India. The contract for April delivery was trading at Rs 6634, up by 0.39% or Rs 26 from its previous closing of Rs 6608. The open interest of the contract stood at 12840 lots.

Niti Aayog has strongly advocated wider use of genetically modified (GM) seed varieties to revive agriculture growth in the country. The assertion came even after RSS's economic wing — Swadeshi Jagran Manch — questioned the role and two-year contribution of Niti Aayog and raised serious questions about the think tank supporting use of GM seeds. Arguing that the key to green revolution was high-yielding crops, the government's think tank said, "It is time for us to return to allow massive research into improving seed varieties including genetically modified one." In an appraisal document of 12th Five Year Plan, the Aayog said, "Elsewhere in the world, most notably the United States, GMO seeds have been in use for over two decades with no adverse effect on either crops or those consuming the product of those seeds." "China has been far ahead of us in this regard. Our own experience with BT Cotton has been a success," it said. 

The Centre's demonetisation drive did not have any impact on rabi sowing and prices of crops like paddy, soyabean and maize, Niti Aayog member Ramesh Chand has said. "Tentative estimates of area sown are provided by the Ministry of Agriculture each Friday of the week. This data shows that up to November 11, which can be considered as start of demonetisation, rabi sowing was completed on 14.6 million hectare area which was 5.7 per cent lower than the normal crop coverage. "The gap between area sown this year and normal area (average area) steadily declined almost every week since the announcement of demonetisation. During the week ending December 30, 2016, net sown area under rabi crops exceeded the normal or average area by 2.77 per cent and area sown last year by 6.86 per cent," Chand wrote in a research paper titled "Agricultural Growth in the Aftermath of Demonetisation". It further said that normally rabi sowing is completed on 88 per cent area by December 30 but this year it has been completed on more than 91 per cent area.

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Technical Outlook

BUY CORIANDER APRABOVE 7750 TARGET 7765 7825 7895 SL BELOW 7720

SELL TURMERIC 20APR BELOW 6555 TARGET 6525 6485 6435 SL ABOVE 6603

BUY GUARGUM5 FEBABOVE 6430 TARGET 6460 6520 6570 SL BELOW 6380

BUY CASTORSEED FEB ABOVE 4190 TARGET 4205 4235 4295 SL BELOW 4150

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Daily agri commodity report by epic research of 13 january 2017