This daily commodity report provides market views and technical outlook on key agricultural commodities such as turmeric, coriander, guargum, and castorseed. It summarizes the most recent market prices and changes, support and resistance levels, most active contracts, top gainers and losers. The report also includes economic news on kharif sowing progress, high jeera prices due to tight supply and demand, and falling chana prices due to profit-taking and improved supplies. The technical outlook recommends selling positions in coriander, guargum, and turmeric based on support and resistance levels.

1. DAILY AGRI COMMODITY REPORT
26 July 2016
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2. Market Views
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
TURMERIC
AUG 8330 8388 8240 8354 +0.99 -
INTRADAY
LEVELS
SUPPORT SUPP. 1
8267
SUPP. 2
8176
PIVOT
8327
Turmeric short term
trend is bearish and
May continue in
coming days.RESISTAN
CE
RES. 1
8415
RES. 2
8475
CORIANDER
AUG 7730 7800 7615 7719 +0.42 -
INTRADAY
LEVELS
SUPPORT SUPP.1
7623
SUPP. 2
7526
PIVOT
7711
Coriander short term
trend is bearish and May
continue in coming
days.RESISTAN
CE
RES. 1
7808
RES. 2
7896
GUARGUM
OCT 7250 7280 7060 7060 -3.95 -
INTRADAY
LEVELS
SUPPORT SUPP. 1
6987
SUPP. 2
6913
PIVOT
7133
Guargum short term
trend is bearish and
May continue in
coming days.RESISTAN
CE
RES. 1
7207
RES. 2
7353
CASTORSEED
- - - - - - -
INTRADAY
LEVELS
SUPPORT SUPP. 1
-
SUPP. 2
-
PIVOT
-
-
RESISTAN
CE
RES. 1
-
RES. 2
-

3. Most Active Contract
3
NCDEX INDICES
Index Value
Pre.
Close
%
Change
CASTORSEED - - -
CHANA - - -
CORIANDER 7719 7687 +0.42
GUARGUM 7060 7350 -3.95
JEERA 19680 19810 -0.66
MUSTARD
SEED
4980 4956 +0.48
SOYABEAN 3688 3729 -1.76
TURMERIC 8354 8272 +0.99
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
JEERA 19-08-2016 19680.00 485.00 2.53%
CORIANDER 19-08-2016 7719.00 81.00 1.06%
SUGAR M GRADE 20-10-2016 3863.00 34.00 0.89%
TURMERIC 19-08-2016 8354.00 66.00 0.80%
TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
GUAR GUM 20-10-2016 7060.00 -250.00 -3.42%
SOY BEAN 20-10-2016 3623.00 -107.00 -2.87%

4. Commodities In News
4
ECONOMIC NEWS
 Kharif Sowing Progressing Well of India (FCI) was 60 per cent short of
its target for this season. Faced with a sudden spike in prices early this
year, the government had in March allowed FCI to commence procurement
of pulses. The target fixed for chana dal (chickpea) was 40,000 tonnes and
masoor (split red lentil) at 10,000 tonnes. It could buy 15,200 tonnes of
chana and 4,335 tonnes of masoor. This was the first time FCI entered into
pulses procurement at the market-driven price. Normally, it conducts MSP
(minimum support price) operations, buying grain at the minimum assured
price set by the government. To intervene in case of sharp spike in prices,
the government decided in November 2015 to build a buffer stock of
350,000 tonnes of pulses, comprising 150,000 tonnes of tur (split red gram)
and urad (split black gram) and 200,000 tonnes of chana dal and masoor.
FCI closed procurement last Friday for the rabi harvesting season.
An FCI official cited three basic problems in the target. The government
allowed FCI to start procurement only in March, when half the rabi
harvesting season was over. Farmers with early harvests had already
offloaded into the mandis and traders built their inventory by the time FCI
began. “We started procurement two months late,” said the official.
Second, farmers preferred to receive cash, which only traders
and arhatiyas (authorised middlemen) can offer. FCI offers cheques, which
many farmers did not like. So, they sold pulses to traders even at a one to
two per cent discount to the market price offered by FCI. Many had also
already taken money from the arhatiyas or traders, with their output as
collateral; they had to sell to only the latter. According to official sources,
the government is considering extending the pulses procurement to the
kharif harvesting season. Urad harvesting starts in September. “For this,
however, the government should allow us to start procurement in advance,”
said the official. Apart from FCI, the government has also asked two of its
other agencies, Nafed and the Small Farmers Agribusiness Consortium, to
procure pulses in major producing states.
Jeera prices set to touch new high on short supply, high demand The
price of jeera (cumin) has reached a historic high of Rs 3,800 per 20 kg
at the Unjha mandi (wholesale market) in Gujarat's Mehsana district on
tight supply, coupled with good export and domestic demand. Traders
say the price might continue rising for some months. As against a
demand of about 12,000 bags (55 kg each), the current supply is around
5,000 bags at Unjha, the biggest jeera mandi in Asia. In two months,
the price has gone up by Rs 400-500 per 20-kg bag.“China and
Bangladesh have bought jeera heavily so far and export demand is
likely to continue to witness an upside, as other producing countries are
not well placed for supplies. On the other hand, domestic supply is also
tight, which lifted up prices, and it might move up further,” said Vimal
Patel, owner of Ambalal Lalludas from Unjha. By sector estimates,
China imported 18,000-20,000 tonnes in April-May from India.
Exports during April-June were about 45,000 tonnes, sharply up from
27,000 tonnes in the corresponding period last year. Patel said,
“Looking at the current scenario of supply and stocks, if demand
continues in August, the price might touch Rs 4,000 per 20-kg.
Because of good prices in the past three months, almost 80 per cent of
the total production has already arrived in the market.”
Chana down 2.8% on profit booking Continuing its losing streak for
the second straight day,chana prices dropped further by 2.84% to Rs
8,550 per quintal in futures trade today as speculators indulged in
booking profits at current levels. Besides, an improvement in supplies
too weighed on chana prices. At the National Commodity and
Derivatives Exchange, chana for delivery in September drifted lower
by Rs 250 or 2.84% to Rs 8,550 per quintal with an open interest of
270 lots. Analysts said apart from profit-booking, adequate stocks on
improved supplies in the physical market after government's measures
to curb rising prices and fall in demand kept chana prices lower at
futures trade.

5. Technical Outlook
5
SELL CORIANDER AUG BELOW 7620 TARGET 7575 7475 SL
ABOVE 7685
SELL GUARGUM OCT BELOW 7060 TARGET 7010 6940 SL
ABOVE 7120
SELL TURMERIC AUG BELOW 8320 TARGET 8276 8216 SL
ABOVE 8380

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