WEEKLY AGRI REPORT 25TH February 2013
HEADLINES Soybeans jump 2 per cent on lower supplies, global cues
Soybean futures jumped nearly 2 per cent on Friday, supported by thin supplies and an upside in overseas prices due to strong demand from top importer China and tight US old-crop supplies. Soyoil and rapeseed rose, tracking gains in Malaysian palm oil prices, though a likely rise in rapeseed production weighed. As of 0803 GMT, Malaysian palm oil futures were up 0.28 per cent at 2,543
SELL CHANA APR BELOW 3430 TGTS 3400/3360 SL 3460 SELL CASTORSEED MAR BELOW 3603 TGTS 3550/3500 SL 3650 www.epicresearch.co
ringgit per tonne, while US soybeans rose 1.76 per cent to $15.14 per bushel. * "Soybean supplies are falling. Since prices are rising, farmers are holding back supplies. They expect a further rise in prices," said Vedika Narvekar, a senior analyst with Angel Commodities Broking. The actively traded soyoil contract for March delivery on the National Commodity and Derivatives Exchange was 0.99 per cent higher at 707.8 rupees per 10 kg.
EXPERT OPINION STOCK
OPEN HIGH MARKET LOW CLOSE LTP CHG WEEKLY ANALYSIS
Pepper CHANA 4525 of higher 4560 output 4532 -28 exports, -0.61 Indian 7/19/2012 pepper futures4556 fell due4573 to estimates and weak though
depleting stocks and thin supplies restricted the downside. The most-active pepper contract CHILLI 7/19/2012 5060 5018 5018 rupees -102per 100-1.99 for March delivery on5060 the NCDEX was 0.34 percent 5120 down at 37,910 kg. "The
trend looks weak in the short-term. The March contract can take support at 37,700-37,350 GURrupees per 7/19/2012 1188an analyst 1188 from 1178 1183.5 1178 -5.5 -0.46 to be 100 kg," said Kotak Commodities. Pepper output is likely higher this season as good yields are expected from the top-producing states of Kerala and JEERA 7/19/2012 14955 14960 14650 15052.5crop start 14800arriving -252.5from January -1.68 Karnataka, traders said. Supplies from the new season to February. KAPAS
PEPPER 7/19/2012 42300 42555 42250 uptrend 42390 42435 Chilli futures in India expected to continue on firm demand 45 from the 0.11 overseas
buyers along with lower output concerns. Firm demand in the physical markets for the REF SOYA 780.5 783.6 the777.4 782.85 781.3 -1.55 -0.2 ongoing7/19/2012 festive seasons also supported firm trend BEAN Turmeric SOY 7/19/2012
Indian turmeric futures fell more than 2 percent on Thursday, weighed by a rise in the new TURMERIC 7/19/2012 mounting 4600 carry-forward 4676 4518 and 4664 season supplies, stocks weak local4540 demand. -124 As of 1016 -2.66 GMT, the
most-active turmeric contract for April delivery on the National Commodity and Derivatives WHEAT 7/19/2012 1251 1282 lower 1251 36 10,000-12,000 2.89 Exchange (NCDEX) was 2.26 percent at 6,140 1246 rupees per1282 100 kg. About
bags (of 70 kg each) from the new crop are arriving daily at the Nizamabad market in Andhra Pradesh. Jeera Indian jeera, or cumin seed, were steady on fresh overseas enquiries though new season arrivals, expectations of higher production and weak spot demand weighed on sentiment. Daily supplies from the new season crop rose to about 4,000 bags of 60 kg each from 2,000 bags last week at the Unjha market in Gujarat.Jeera is a winter crop sown from October to December and fresh supplies start arriving in FebruaryThe most-active jeera contract for March delivery on the NCDEX was steady at 13,262.5 rupees per 100 kg.
WEEKLY SOYABEAN CHART
ANALYSIS OPEN: 3345 HIGH: 3415 LOW: 3291 CLOSE: 3326
SOYABEAN LOOKS UPWARDS TREND: CONSOLIDATED STRATEGY: BUY ON DIPS
WEEKLY CHANA CHART
ANALYSIS OPEN: 3469 HIGH: 3488 LOW: 3415 CLOSE: 3447
CHANA LOOKS DOWNWATDS TREND: CONSOLIDATED STRATEGY: SELL ON RISE
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