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12-Jun-2018 Agri Commodity Update

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Agri Commodity Update Market Views MONTH

OPEN

HIGH

LOW

CLOSE

% CHG

VOL

MONTH

OPEN

HIGH

LOW

4228

4251

4189

SUPPORT

SUPP.1

SUPP. 2

4190

4159

4222

PIVOT

INTRADAY LEVELS

4221 RESISTANCE

RES. 1

RES. 2

4252

4238

-0.64

7910

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

-

-

-

-

SUPPORT

SUPP. 1

SUPP. 2

-

-

7090

7140

7026

SUPPORT

SUPP. 1

SUPP. 2

7017

6965

RESISTANCE

RES. 1

RES. 2

7131

7193

-

-

-

PIVOT

LEVELS

RESISTANC E

RES. 1

RES. 2

-

-

-

-

GUARGUM 5MT

7070

PIVOT

INTRADAY LEVELS

VOL

INTRADAY

TURMERIC

JUN

% CHG

CASTORSEED

CORIANDER

JUN

CLOSE

7079

-0.57

3345

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

JUN

7460

7614

7420

SUPPORT

SUPP. 1

SUPP. 2

7399

7313

7486

PIVOT

INTRADAY LEVELS

7507 RESISTANCE

RES. 1

RES. 2

7593

7701

0.16

4555

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


Agri Commodity Update Most Active Contract TOP GAINERS Symbol

Expiry Date

Current Price

Change

NCDEX INDICES

Change %

GUAR GUM 5 MT

20-06-2018

7511

160

2.18

Index

TURMERIC

20-06-2018

7056

138

1.99

Castorseed

3839

3926

-2.22

MAIZE - FEED

20-06-2018

1163

13

1.13

Chana

3310

3407

-2.85

COTTON SEED OIL CAKE AKOLA

20-06-2018

1454.5

14.5

1.01

Coriander

4195

4222

-0.64

Guargum5MT

8880

8785

1.08

Jeera

15945

16005

-0.37

Musterseed

3932

3988

-1.4

Soybean

3336

3474

-3.97

Turmeric

7030

7070

-0.57

Value

Pre. Close

% Change

TOP LOSERS Symbol SOY BEAN

CHANA

Expiry Date 20-06-2018

20-06-2018

Current Price 3355

3332

Change -143

-102

Change % -4.09

-2.97

CASTOR SEED

20-06-2018

3848

-76

-1.94

BARLEY

20-06-2018

1499.5

-27.5

-1.8


Agri Commodity Update Commodities In News  The US all-wheat food use for the 2017/18 marketing year is now estimated at 963 million bushels, up 14 million from 2016/17, according to US Bureau of Economic Analysis. The strong rise in wheat food use reverses a multiyear trend of both declining per capita and aggregate wheat food use. For 2017, per capita wheat food use is projected at 131.8 pounds, up slightly from 131.7 pounds per capita in 2016.The data indicates further that real personal consumption expenditures, driven by rising incomes, have steadily increased and support growth in food service and accommodations expenditures. Wheat food use tends to increase as expenditures on food eaten away from home rise. Accordingly, the recent rise in wheat food use can, in part, be explained by increased demand for food services such as meals eaten at fast casual restaurants.  Bangladesh might increase rice import duty to 28% from 2% currently in order to support local farmers as production of the commodity is likely to turn in a stronger performance. The duty hike would reduce imports, particularly from India, which emerged as a biggest supplier to the south Asian country last year. Bangladesh imported a record of more than 3.7 million tonnes of rice in the July-April period, data from the country's food ministry showed. Mustard Seed on NCDEX settled down 0.12% at 4032 tracking weakness in spot demand due to reports of slowdown in meal exports. National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) bought 496,072 ton of mustard seed in major producing states and halted the purchases in Haryana.Government authorized the cooperative giant to purchase mustard seed from farmers at Rs 4,000 per quintal inclusive of Rs 100 as bonus. In Haryana, NAFED has stopped purchases after buying 227,517 ton of mustard seeds, said sources.According to SEA, India May mustard meal exports at 45,808 tn vs 56,107 tn..

ECONOMIC NEWS 

The domestic cotton crop output is expected to moderate to 35 million bales in Cotton Year (CY) 2019 (refers to year ending September 2019) after a reasonably good CY2018, owing to a decline in domestic cotton acreage to 114 lakh hectares for CY2019 vis-à-vis 122 lakh hectares estimated for CY2018, according to ICRA. As per an ICRA report, the decline in acreage is expected to be led by some key cotton growing regions in the Western and Southern belts, wherein pest attacks had causedsizeable losses to the cotton farmers during CY2018, resulting in a shift in farmer preference in favour of alternate crops such as soybean. As for CY2019, while cotton sowing in the Central/ Western/ Southern belts is yet to commence, the Northern Belt comprising Punjab, Haryana and Rajasthan reported a tepid beginning, with area coverage under cotton being lower by ~14% this year (till May end), vis-à-vis the level normally witnessed till this time of the year, and~18% below the level reported last year. 

Technically Ref. Soya Oil market is under fresh selling as market has witnessed gain in open interest by 11.07% to settled at 40850 while prices down 1.6 rupees.Now NCDEX Ref.Soya oil is getting support at 759 and below same could see a test of 757 level, And resistance is now likely to be seen at 763, a move above could see prices testing 765.Ref.Soya oil on NCDEX settled down 0.21% at 761.25 on profit booking after prices gained on anticipation of that government is likely to hike import duty. Pressure also seen amid good stocks with the traders and sufficient availability of oilseeds in the country.Oilmeal exports from India have taken a beating with exports falling by 8 per cent for the first two months of the current year. Data compiled by the Solvent Extractors’ Association of India (SEA) show the oilmeal shipments declining by 8 per cent for the April-May 2018 period at 321,179 tonnes against 348,222 tonnes during the same period last year.


Agri Commodity Update Technical Outlook

SELL CORIANDER JUN BELOW 4180 TARGET 4160/4140/4120 SL 4210

BUY GUARGUM5 JUN ABOVE 7620 TARGET 7660/7700/7740 SL 7570

BUY TURMERIC JUN ABOVE 7150 TARGET 7180/7210/7240 SL 7110


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Daily agri report of 12 june 2018 by epic research  

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Daily agri report of 12 june 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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