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DAILY AGRI COMMODITY REPORT

20 March 2017

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Market Views
MONT CLOS MONT CLOS
OPEN HIGH LOW % CHG VOL OPEN HIGH LOW % CHG VOL
H E H E

CORIANDER CASTORSEED

APR 6905 7045 6900 7029 1.97 16400 FEB - - - - - -

SUPPORT SUPP.1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2

6938 6846 - -

PIVOT Coriander short term PIVOT


INTRADAY INTRADAY
trend is bearish and may -
LEVELS LEVELS -
6991
continue in coming days.
RES. 1 RES. 2 RESISTA RES. 1 RES. 2
RESISTAN
CE NCE - -
67083 67136

TURMERIC GUARGUM 5MT

APR 6554 6576 6376 6392 -2.14 4055 APR 7951 7951 7811 7811 -2.97 75

SUPPORT SUPP. 1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2

6320 6248 7764 7718

PIVOT Turmeric short term trend PIVOT Guargum Short term


INTRADAY INTRADAY
is bearish and may trend is bearish and may
LEVELS LEVELS 7858
6448
continue in coming days. continue in coming days.
RESISTAN RES. 1 RES. 2 RESISTAN RES. 1 RES. 2
CE 6520 6648 CE 7904 7998

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Most Active Contract
NCDEX INDICES
TOP GAINERS

Symbol Expiry Date Current Price Change Change % Pre. %


Index Value
Close Change

GUAR SEED 10 MT 20-03-2017 3852.00 126.00 3.38%


Castorseed 4411 4350 1.4

CORIANDER 20-04-2017 7029.00 131.00 1.90%


Chana - - -

RAPESEED-MUSTARD
20-04-2017 3883.00 47.00 1.23% Coriander 7029 6893 1.97
SEED

V 797 KAPAS 28-04-2017 1076.50 12.50 1.17%


Guargum5MT 7811 8050 -2.97

TOP LOSERS
Jeera 16915 16895 0.12
Symbol Expiry Date Current Price Change Change %

TURMERIC 20-04-2017 6392.00 -148.00 -2.26% Musterseed 3883 3841 1.09

MAIZE -
FEED/INDUSTRIAL 20-04-2017 1427.00 -17.00 -1.18% Soybean 2825 2835 -0.35
GRADE

WHEAT 20-03-2017 1609.00 -16.00 -0.98% Turmeric 6392 6532 -2.14

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Commodities In News
ECONOMIC NEWS
Soyabean futures traded marginally higher on NCDEX on account of
good demand at the spot market against lower arrivals from the major A number of steps have been taken to end the farmers' plight, the
producing belts, while April contract ruled flat on NCDEX. Reports government said in the Lok Sabha today but gave no commitment to waive
from SOPA showed that Soybean exports during October-February the farm loans nationwide as demanded by several members, prompting a
were estimated at 112,000 tonnes, compared with 80,186 tonnes in the walkout by ally Shiv Sena and opposition Congress. Agriculture Minister
year-ago period. Arrivals during February fell to 650,000 tons as Radha Mohan Singh, however, said the newly-elected BJP government in
compared to 900,000 tons in January. Soybean crushing has also Uttar Pradesh will waive loans of farmers in the state and the financial
dropped to 750,000 tons in February as compared to 900,000 tons in burden would be borne by the Centre. Singh was replying to a debate on
the same period a month ago. The contract for March delivery was Demand for Grants for the Agriculture, which was approved by the House
trading at Rs 2825.00, up by 0.21% or Rs 6.00 from its previous later. During the debate which had started yesterday, members from several
closing of Rs 2819.00. parties demanded that the government should waive loans of all the farmers
across the country to bring down the number of suicides. The members had
Coriander futures edged higher on NCDEX as participants enlarged said that since Prime Minister Narendra Modi, during campaigning in Uttar
their holdings on the back of rising demand in the domestic spot Pradesh, had promised to waive farm loans in that state if the BJP came to
market. Further, limited arrivals from major producing belts also power there, the same step should be taken for farmers in rest of the
fuelled the uptrend. The contract for April delivery was trading at Rs country.
6900, up by 1.07% or Rs 73.00 from its previous closing of Rs 6827. The agriculture ministry has retained the current maximum sale price for
The open interest of the contract stood at 31800 lots. The contract for genetically-modified Bt cotton seeds for 2017-18 crop year. In a
May delivery was trading at Rs 7005, up by 0.97% or Rs 67.00 from its notification issued on March 10, the ministry said status quo would also be
previous closing of Rs 6938. maintained on the trait value (tech fee). Last year, the government had
reduced technology fee by over 70 % and fixed the price of Bt cotton seeds
Turmeric futures showed mixed trend on NCDEX as the April at Rs 800 per 450-gm packet, which included Rs 49 as trait value or royalty
contracts traded higher on improving exports demand at the spot fee to technology providers, a move aimed at bringing pricing parity across
market. On the export front, country exported about 82,115 tons during states. These rates will continue for the next crop year, according to an
April-December period, up by 28% compared to last year exports of official. The notification comes amid a pricing dispute between domestic
64,105 tons, while May contracts traded lower on higher arrivals from seed firms and biotechnology companies. The National Seed Association
the producing regions. Reports showed the turmeric arrivals in the of India (NSAI) had been seeking a cut in trait value, but the Association of
country are higher at 81,876 tons during March 1-15 compared to Biotechnology-led Enterprises Agriculture-focus Group (ABLE AG) was
12,825 tons during previous month. The contract for April delivery was opposing it on the grounds that such a move may force technology
trading at Rs 6554.00, up by 0.06% or Rs 4.00 from its previous developers to rethink their plans of bringing new techniques to India. The
closing of Rs 6550.00. The open interest of the contract stood at 11990 notification said, "Exercise of the powers conferred by sub-clause.
lots.

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Technical Outlook

BUY CORIANDER APR ABOVE 7050 TARGET 7080 7120 7170 SELL TURMERIC 20APRBE LOW 6370 TARGET 6340 6300 6250
SL BELOW 7000 SL ABOVE 6400

SELL GUARGUM 20APRBE LOW 7800 TARGET 7770 7740


6990 SL ABOVE 7850

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