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11-Jul-2018 Agri Commodity Update

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Agri Commodity Update Market Views MONTH

OPEN

HIGH

LOW

CLOSE

% CHG

VOL

MONTH

OPEN

HIGH

LOW

CORIANDER

JUN

4786

4809

4661

SUPPORT

SUPP.1

SUPP. 2

4702

4607

4797

4755 RESISTANCE

RES. 1

RES. 2

4850

4903

-2.36

9080

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

-

-

-

-

SUPPORT

SUPP. 1

SUPP. 2

-

-

7000

7070

6950

SUPPORT

SUPP. 1

SUPP. 2

6943

6886

RESISTANCE

RES. 1

RES. 2

7063

7126

-

-

-

PIVOT

LEVELS

RESISTANC E

RES. 1

RES. 2

-

-

-

-

GUARGUM 5MT

7000

PIVOT

INTRADAY LEVELS

VOL

INTRADAY

TURMERIC

JUN

% CHG

CASTORSEED

PIVOT

INTRADAY LEVELS

CLOSE

7006

-0.71

3265

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

JUN

8669

8700

8354

SUPPORT

SUPP. 1

SUPP. 2

8456

8232

8680

PIVOT

INTRADAY LEVELS

8578 RESISTANCE

RES. 1

RES. 2

8802

8924

-3.28

6440

Guargum Short term trend is bearish and may continue in coming days.


Agri Commodity Update Most Active Contract TOP GAINERS

NCDEX INDICES Symbol

REF SOYA OIL

Expiry Date

Current Price

20-07-2018

757.80

Change

0.15

Change %

0.02%

Index

Value

Pre. Close

TOP LOSERS Symbol

Expiry Date

Current Price

Change

% Change

Castorseed

4465

4521

-1.24

Change %

GUAR GUM 5 MT

20-07-2018

8395.00

-275.00

-3.17%

Chana

3806

3820

-0.37

GUAR SEED 10 MT

20-07-2018

3965.00

-95.00

-2.34%

Coriander

4684

4797

-2.36

CORIANDER

20-07-2018

4684.00

-97.00

-2.03%

Guargum5MT

8880

8785

1.08

JEERA

20-07-2018

18320.00

-285.00

-1.53%

Jeera

18320

18595

-1.48

CASTOR SEED

20-07-2018

4465.00

-52.00

-1.15% Musterseed

4096

4115

-0.46

Soybean

3516

3552

-1.01

Turmeric

6950

7000

-0.71

TURMERIC

20-07-2018

6950.00

-68.00

-0.97%

MAIZE FEED/INDUSTRIAL GRADE

20-07-2018

1201.00

-11.00

-0.91%


Agri Commodity Update Commodities In News  India's Rice exports likely to decline from October as the government increases guaranteed prices that farmers receive for much of their crop, making new season cargoes expensive compared to supply from rival growers. Lower exports would mean that India loses market share in key Asian and African markets, traders and industry sources said, with exports from countries such as Thailand, Vietnam and Myanmar likely to fill any gaps. India raised prices paid to local farmers for common grade paddy rice by 13 percent from a year ago to 1,750 rupees ($25.50) per 100 kg.  The Cardamom export have drooped in the new season after a record export last year and production is also likely to be down by 40% as many plants have been damaged due to unfavorable climate. Harvest of Cardamom this season started in June, over a month early this year due to heavy summer rains in Kerala, the top producing state. But the southwest monsoon has also been intense, accompanied by strong winds. Exports to Saudi Arabia have virtually stopped in the last couple of months with the government tightening the standards for pesticide monitoring and rejecting some Indian consignments.  Soon after the Centre declared a hike in minimum support prices (MSPs) for most agricultural commodities, Saurashtra Oil Mill Association (SOMA) requested that imports of Pulses and Edible Oil to be confined to keep domestic production competitive and ensure that farmers get the benefit of higher MSPs. Pulses in general are sold below MSP throughout the season even as fairly large quantity of the commodity was imported. Similar is the case with Oilseeds. Farmers sold them below MSP even as our imports constitute more than half of Edible Oil demand in the country. During refining of Palmolien oils, a very significant quantity, about 30 per cent, is lost as a byproduct. This byproduct, known as Palm stearin, is used mainly for manufacturing of soaps and detergents.

ECONOMIC NEWS 

India's rice exports are set to ease from October as the world's biggest shipper of the grain boosts guaranteed prices that farmers receive for much of their crop, making new season cargoes expensive compared to supply from rival growers. Lower exports would mean that India loses market share in key Asian and African markets, traders and industry sources said, with exports from countries such as Thailand, Vietnam and Myanmar likely to fill any gaps. India on Wednesday raised prices paid to local farmers for common grade paddy rice by 13 percent from a year ago to 1,750 rupees ($25.50) per 100 kg, with Prime Minister Narendra Modi looking to woo millions of rural poor ahead of a general election next year. The government typically buys more than a third of the country's rice output at a fixed price, which also has a direct impact on prices paid by traders. 

Technically Mentha Oil market is under short covering as market has witnessed drop in open interest by 0.72% to settled at 1378 while prices up 55.3 rupees. Now MCX Mentha Oil is getting support at 1411.6 and below same could see a test of 1385.2 level, And resistance is now likely to be seen at 1451.2, a move above could see prices testing 1464.4. Mentha Oil on MCX settled up by 4% at 1438 due to bullish demand outlook from domestic market as well as exporters. Spot markets are also witnessing strong consumption demand amid restricted supplies. Bumper crop harvest has been discounted in the market and market is moving upwards on rising demand from end users. The Multi Commodity Exchange of India will double the total additional margin to 10% on both buy and sell side of all running as well as yet-to-belaunched contracts of mentha oil from Monday. Despite the peak season of harvest in June, prices of mentha oil have risen over 20% since the beginning of June as farmers held back stocks. Farmers are holding back stocks as they are expecting prices to rise to 1,800 rupees a kg in the next two-three months.


Agri Commodity Update Technical Outlook

SELL CORIANDER JUL BELOW 4660 TARGET 4640/4620/4600 SL 4690

SELL GUARGUM5 JUL BELOW 8320 TARGET 8280/8240/8200 SL 8370

SELL TURMERIC JUL BELOW 6930 TARGET 6900/6870/6840 SL 6970


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Daily Agri Report of 11 July 2018 by Epic Research  

Epic Research is a fastest growing financial advisory services provider. We offer daily reports on different segments of market for traders...

Daily Agri Report of 11 July 2018 by Epic Research  

Epic Research is a fastest growing financial advisory services provider. We offer daily reports on different segments of market for traders...

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