Agri Commodity Update - 07-Jun-2018 - For More Information Please visit www.epicresearch.co or contact - Epic Research
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07-Jun-2018
Agri Commodity Update
For More Information Please visit www.epicresearch.co or contact info@epicresearch.co
Please refer to disclaimer at the end of the report.
Agri Commodity Update
Market Views
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
CORIANDER CASTORSEED
JUN 4281 4360 4256 4306 -0.60 5640 - - - - - - -
SUPPORT SUPP. 1 SUPP. 2
SUPPORT SUPP.1 SUPP. 2
4254 4203 - -
PIVOT Coriander short term PIVOT
INTRADAY INTRADAY
trend is bearish and may -
LEVELS 4307 LEVELS -
continue in coming days. RESISTANC RES. 1 RES. 2
RES. 1 RES. 2
RESISTANCE E - -
4358 4411
TURMERIC GUARGUM 5MT
JUN 6960 7012 6936 6944 0.20 2770 JUN 7390 7478 7343 7357 -0.19 5470
SUPPORT SUPP. 1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2
6916 6888 7307 7257
PIVOT Turmeric short term PIVOT
Guargum Short term
INTRADAY INTRADAY
trend is bearish and may trend is bearish and may
LEVELS 6964 LEVELS 7392
RES. 1 RES. 2 continue in coming days. continue in coming days.
RES. 1 RES. 2
RESISTANCE RESISTANCE
6992 7040 7442 7527
Agri Commodity Update
Most Active Contract
TOP GAINERS
NCDEX INDICES
Symbol Expiry Date Current Price Change Change %
COTTON SEED OIL CAKE
20-06-2018 1428.00 15.00 1.06% Index Value Pre. Close % Change
AKOLA
WHEAT 20-06-2018 1770.00 5.00 0.28% Castorseed 3920 3915 0.13
JEERA 20-06-2018 16100.00 40.00 0.25% Chana 3505 3505 0
CASTOR SEED 20-06-2018 3924 9.000. 0.23% Coriander 4275 4306 -0.72
TOP LOSERS
Symbol Expiry Date Current Price Change Change % Guargum5MT 8880 8785 1.08
SOYABEAN 20-06-2018 3501.00 -27.00 -0.77%
Jeera 16100 16060 0.25
CORIANDER 20-06-2018 4280.00 -26.00 -0.60%
Musterseed 3980 3991 -0.28
GUAR SEED 10MT 20-06-2018 3542.00 -21.00 -0.59% Soybean 3499 3528 -0.82
Turmeric 6956 6944 0.17
REF SOYA OIL 20-06-2018 752.3.00 -3.85 -0.51%
Agri Commodity Update
Commodities In News
The Union Minister for Consumer Affairs, Food & Public Distribution ECONOMIC NEWS
held a Press Conference to brief about the initiatives and reforms done by
the Ministry in last four years in New Delhi on Tuesday. During the India has decided to build a 3 million tonne stockpile of sugar to soak up
release, Union Minister stated that during Rabi Marketing Season (RMS) excess supply from the domestic market, and grant soft loans worth 44.4 billion
2018-19, a quantity of 347 Lakh MT of wheat was procured which is rupees ($661.40 million) to help millers expand ethanol output capacity, the
highest in last five years. While during Kharif Marketing Season (KMS) food minister said. The government has also fixed a floor price of 29 rupees a
2016-17, a record quantity of 381.06 Lakh MT of paddy (in terms of rice) kilogram to ensure that retail rates of sugar do not fall further, Ram Vilas
was procured. A total storage capacity of 22.23 lakh MT has been added Paswan told a news conference after a cabinet meeting chaired by Prime
during last four years under the PEG Scheme. Minister Narendra Modi.Paswan on Tuesday said the government would
announce support measures to cut a growing sugar surplus and prop up local
NCDEX Soybean witnessed continued selling pressure after falling to a prices, a move aimed at helping loss-making mills and millions of cane growers
fresh contract low yesterday. The counter has extended a downturn who make up a key voting bloc.
following the weather outlook of late. Rainfall is expected to mark an early
presence in major soybean harvesting regions and farmers should prop up Technically Mentha Oil market is under fresh buying as market has
the sowing of the oilseed. The NCDEX Soybean futures for July are witnessed gain in open interest by 4.7% to settled at 846 while prices up 45
currently trading at Rs 3522 per quintal, down 0.31% on the day after rupees. Now MCX Menthaoil is getting support at 1171.6 and below same
testing a low of Rs 3516 per quintal. Prices had tested a low of Rs 3438 per could see a test of 1139 level, And resistance is now likely to be seen at 1221.2,
quintal yesterday. However, highs around Rs 3570 acted as a stiff a move above could see prices testing 1238.2. Mentha oil on MCX settled up
resistance for the counter and it pulled back, falling around 1% in intraday by 3.88% at 1204.3 on rise in demand from the consuming industries at the
moves. spot market. Further, restricted supplies from the major producing belts of
Chandausi in Uttar Pradesh too supported mentha oil prices’ uptrend.
Maharashtra government has decided to pay Rs 1,000 per quintal to Tur Anticipation of bumper crop harvest and nearing of harvesting season also
and Chana growers, since both the commodity have plagued low price weighing on prices. As per preliminary estimates, acreage under mentha crop
throughout the season. Chief Minister made this announcement after a will rise this year as the farmers are encouraged by higher price in recent past.
cabinet meeting in Mumbai on Tuesday. Tur and Chana have traded below As per trade sources, all the major markets are likely to witness higher inflow
their respective MSPs of Rs 5,400 and Rs 4,400 per quintal. Last year’s of the produce in the month of May. There could be chances of crop damage to
stock and low uptake is being blamed for the price slide. Sources in the certain extend due to unfavourable weather condition. Besides, farmers are
trading sectors, said the move might not be fruitful, as wholesale prices likely to hold back the stocks as the present prices are not remunerative for
were at an all-time low. them. However, in recent years, the growth in production and consumption of
synthetic mentha has influenced the demand for natural mentha.Agri Commodity Update
Technical Outlook
SELL CORIANDER JUN BELOW 4250 TARGET 4230/4210/4190 SL 4280 SELL TURMERIC JUN BELOW 6910 TARGET 6880/6850/6820 SL 6940
SELL GUARGUM5 JUN BELOW 7300 TARGET 7280/7260/7240 SL 7330Daily Agri Update
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