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DAILY AGRI COMMODITY REPORT 16 February 2017

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Market Views MONT H

OPEN

HIGH

CLOS E

LOW

% CHG

VOL

MONT H

OPEN

HIGH

6630

6725

6630

SUPPORT

SUPP.1

SUPP. 2

6636

6586

6687

PIVOT

INTRADAY LEVELS

6681 RESISTA NCE

RES. 1

RES. 2

6731

6776

1.01

5040

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

FEB

-

-

-

SUPPORT

SUPP. 1

SUPP. 2

-

-

6810

7030

6800

SUPPORT

SUPP.1

SUPP. 2

6851

6711

RES. 1

RES. 2

7081

7171

VOL

-

-

RES. 1

RES. 2

-

-

GUARGUM 5MT

6992

6941 RESISTA NCE

-

LEVELS

RESISTA NCE

PIVOT

INTRADA Y LEVELS

% CHG

PIVOT

INTRADAY

TURMERIC

APR

CLOS E

CASTORSEED

CORIANDER

APR

LOW

2.16

3635

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

FEB

6490

6635

6490

SUPPORT

SUPP. 1

SUPP. 2

6538

6442

6635

PIVOT

INTRADAY LEVELS

6587

RESISTA NCE

RES. 1

RES. 2

6683

6732

3.08

170

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

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Most Active Contract NCDEX INDICES TOP GAINERS Symbol

Expiry Date

Current Price

Change

Change %

GUAR SEED 10 MT

20-02-2017

3258.00

68.00

2.13%

TURMERIC

20-04-2017

6974.00

142.00

2.08%

RAPESEED-MUSTARD SEED

20-04-2017

3806.00

33.00

0.87%

Index

Value

Pre. Close

% Change

Castorseed

3900

3848

1.35

Chana

-

-

-

Coriander

6687

6620

1.01

Guargum5MT

6635

6437

3.08

Jeera

17010

16925

0.50

TOP LOSERS Symbol

Expiry Date

Current Price

Change

Change %

GUAR SEED 10 MT

20-02-2017

3258.00

68.00

2.13%

TURMERIC

20-04-2017

6974.00

142.00

2.08%

Mustard seed

3810

3779

0.82

RAPESEED-MUSTARD SEED

20-04-2017

3806.00

33.00

0.87%

Soybean

2968

2968

-

SUGAR M GRADE

20-03-2017

3865.00

25.00

0.65%

Turmeric

6992

6844

2.16

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Commodities In News ECONOMIC NEWS  Soybean futures edged higher on NCDEX tracked by higher prices in international markets, but the harvest of an all-time high crop in Brazil capped some gains. The contract for February delivery was trading at Rs 2985.00, up by 0.57% or Rs 17.00 from its previous closing of Rs 2968.00. The open interest of the contract stood at 17090 lots. The contract for March delivery was trading at Rs 3033.00, up by 0.46% or Rs 14.00 from its previous closing of Rs 3019.00. The open interest of the contract stood at 197820 lots on NCDEX.  Coriander futures traded higher on NCDEX as speculators enlarged their holdings amid rising demand in the spot market. Besides, restricted arrivals from major producing belts also fuelled the uptrend. The contract for April delivery was trading at Rs 6688.00, up by 1.03% or Rs 68.00 from its previous closing of Rs 6620.00. The open interest of the contract stood at 23040 lots. The contract for May delivery was trading at Rs 6775.00, up by 0.82% or Rs 55.00 from its previous closing of Rs 6720.00. The open interest of the contract stood at 2520 lots on NCDEX.  Turmeric futures edged down on NCDEX on reports of higher turmeric output from the producing regions. Turmeric production reported higher by around 7.5% during current year. Meanwhile, this year turmeric area has been increased to the tune of 8-10% than the last year in the key producing states such as Telangana, Andhra Pradesh, Tamil Nadu and Maharashtra following good monsoon. The contract for April delivery was trading at Rs 6834, down by 0.15% or Rs 10 from its previous closing of Rs 6844. The open interest of the contract stood at 13080 lots. The contract for May delivery was trading at Rs 6830, down by 0.09% or Rs 6 from its previous closing of Rs 6836. The open interest of the contract stood at 1925 lots on NCDEX.

To help increase farm production in the country with minimum use of inputs and make the farming climate resilient in due course, India's public sector agriculture research institutions led by the Indian Council of Agricultural Research (ICAR) has released 310 new crop varieties during 2015-16 (Nov-Oct period). The list of new crop varieties, which is to be formally made public by the ICAR on Thursday, include: "The new variety of `moong' bean (called Virat IPM25) is the first of its kind in the world in terms of being ready for harvest in earliest possible time (52-55 days). This along with high zinc variety of rice (DRR Dhan 45) and lentil (masoor dal) may not only increase yield but also play an important role in handling nutritional deficiency in our population", said ICAR director general Trilocha Mohapatra. He told ToI on Monday that the new 'moong' bean variety also has potential to change the cropping pattern in states like Punjab where farmers may switch over to this yellow mosaic virus-resistant summer crop from water-guzzling paddy without compromising on their income.  The rain-boosting La Nina phenomenon is completely ruled out this year and conditions are likely to remain neutral or turn toward the feared El Nino, which is not good for the monsoon, but forecasters said that a clear picture would appear only after a few months. Changes in temperature in the equatorial Pacific Ocean, which scientists call El Nino Southern Oscillation (ENSO), are a key influence on the Indian monsoon. Warmer temperature create the El Nino phenomenon that can disrupt the monsoon, while cooler water in the region increases rainfall in South Asia. “The El Niño — Southern Oscillation (ENSO) remains neutral, with virtually all indicators close to their average values. In recent weeks, the central and eastern tropical Pacific Ocean has shown surface warming, and climate models suggest this warming is likely to continue…,” the Australian weather office said in its weekly assessment of the phenomenon. However, it said that at this time of the year, various climate models vary significantly, because of which the recent trend in warming of the central Pacific had to be considered with caution.

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Technical Outlook

BUY CORIANDER APRABOVE 6725 TARGET 6740 6800 6870 SL BELOW 6695

BUY TURMERIC 20APR ABOVE 7040 TARGET 7070 7110 7160 SL BELOW 6992

BUY GUARGUM5 20MARABOVE 6740 TARGET 6770 6830 6880 SL BELOW 6690

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Daily agri report by epic research limited of 16 february 2017  

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