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16-May-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

MAY

4750

4775

4740

SUPPORT

SUPP.1

SUPP. 2

4744

4724

RES. 1

RES. 2

4779

4794

4764

4759

-0.29

720

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

-

-

-

-

SUPPORT

SUPP. 1

SUPP. 2

-

-

7250

7134

SUPPORT

SUPP. 1

SUPP. 2

7155

7086

RES. 1

RES. 2

7271

7318

RESISTANCE

-

-

LEVELS

RESISTANC E

RES. 1

RES. 2

-

-

-

-

GUARGUM 5MT

7224

PIVOT

INTRADAY LEVELS

-

PIVOT

TURMERIC

7190

VOL

INTRADAY

RESISTANCE

MAY

% CHG

CASTORSEED

PIVOT

INTRADAY LEVELS

CLOSE

7202

0.36

80

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

MAY

8296

8500

8296

SUPPORT

SUPP. 1

SUPP. 2

8242

8167

8317

PIVOT

INTRADAY LEVELS

RES. 1

RES. 2

8446

8575

RESISTANCE

8371

2.20

65

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 %

% Change

BARLEY

18-05-2018

1445.00

33.50

2.37%

Index

Value

Pre. Close

GUAR GUM 5 MT

18-05-2018

8500.00

183.00

2.20%

Castorseed

4030

4047

-0.42

RAPESEED-MUSTARD SEED

18-05-2018

3960.00

64.00

1.64%

Chana

3686

6617

1.91

COTTON SEED OIL CAKE AKOLA

18-05-2018

1317.00

21.00

1.62%

Coriander

4750

4764

-0.29

Guargum5MT

8880

8785

1.08

Jeera

16395

16400

-0.03

Musterseed

3960

3891

1.77

Soybean

3730

3685

1.22

Turmeric

7250

7224

0.36

TOP LOSERS

Symbol

Expiry Date

Current Price

Change

Change %

WHEAT

18-05-2018

1770.00

-4.00

-0.23%

CORIANDER

18-05-2018

4750.00

-9.00

-0.19%

CASTOR SEED

18-05-2018

4030.00

-6.00

-0.15%

REF SOYA OIL

18-05-2018

758.60

-0.40

-0.05%


Agri Commodity Update Commodities In News  Tightening of checks on pesticide residue by Saudi Arabia has hit Indian small cardamom exports, which in turn has pushed down the spice‟s price in the local market. The average cardamom price that was hovering in the Rs 900-1,000 per kg range has slid to Rs 800, even as arrivals remained steady. Saudi Arabia accounts for 90 per cent of cardamom shipments from India. “This decision to tighten monitoring of the shipments happened in the middle of April. As a result the exports have slowed down,” trade sources said. Pesticide residue check is not mandatory to get the Spices Board‟s certificate that accompanies shipments.

 USDA forecasts India Cotton production for 2018/19 at 28.5 million 480-pound bales (6.21 million metric tons), unchanged from last year. Harvested area is forecast at 11.8 million hectares, down 4 percent from last year. Farmers are less optimistic after a 2017/18 pink bollworm infestation that negatively impacted Cotton in central and southern India. Farmers are expected to switch from Cotton to Soybeans and Rice. Yield is estimated at 526 kilograms per hectare, up 4 percent from last year. Meteorologists are forecasting a normal monsoon season for 2018/19.

ECONOMIC NEWS Making

tea planters cheerful, Government of India has approved Indian tea Board‟s (ITB) proposed “Development and promotion” scheme with a planed outlay of around Rs 400 crore. The scheme that includes organized as well as small growers both, will remain effective till the end of 2019-20 FY. The Rs 394.95 crore scheme has seven major components. These are Plantation Development, Quality Upgradation and Product Diversification, Market Promotion, Research and Development, Human Resource Development, National Program for Tea Regulation and Establishment Expenses. Eligible plantations will be provided subsidy, incentives or grants for their various activities in these component sectors. According to S. Soundararajan, Director of Tea Development, ITB, objective of the „Development‟ component is to increase field productivity and quality of tea by encouraging replantation, replacement planting, rejuvenation pruning, irrigation, mechanization. It is also aimed towards development of small tea growers to help them move up the value chain. Technically

India's Wheat procurement has risen by 16% to 31.87 million tonnes so far in this marketing year and is all set to cross the government's target of 32 million tonnes, according to official data. State-run Food Corporation of India (FCI) and state agencies had procured 27.57 million tonnes in the same period of the 2017-18 marketing year (April-March). Total Wheat procurement stood at 30.82 million tonnes in 2017-18 and government had fixed higher target in view of record output. "There is increase in wheat purchase because more procurement centres were set up this year. As a result, more and more farmers are approaching the centres to sell their produce," a senior FCI official said.

Cotton market is under long liquidation as market has witnessed drop in open interest by 4.13% to settled at 7956 while prices down 120 rupees. Now MCX Cotton is getting support at 20350 and below same could see a test of 20200 level, And resistance is now likely to be seen at 20650, a move above could see prices testing 20800. Cotton on MCX settled down by 0.58% at 20500 on steady physical demand and good stock positions with the mills. In its latest press release, Cotton Association of India, retained its estimate for the country's output in 2017-18 (Oct-Sep) at 360 lakh bales (1 bale = 170 kg). Cotton prices are still trading at higher levels for the season tracking firm trend in International markets, higher exports and expectation of lower acreage in the country in next season. Cotton exports from the country are still behind the last year exports volume.


Agri Commodity Update Technical Outlook

SELL CORIANDER MAY BELOW 4790 TARGET 4760/4720/4670 SL 4840

SELL GUARGUM5 MAY BELOW 8280 TARGET 8250/8210/8160 SL 8330

BUY TMC MAY ABOVE 7430 TARGET 7460/7510/7560 SL 7380


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Daily agri report of 16 may 2018 by epic research  

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Daily agri report of 16 may 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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