The daily agri commodity report provides market views and technical outlook on various commodities. Turmeric and coriander futures traded higher due to rising demand while soybean traded lower from profit booking. The report also discusses recent economic news including record wheat production in India and rising jeera exports. It concludes with technical recommendations to buy and sell various commodity futures contracts.

1. DAILY AGRI COMMODITY REPORT
10 MAY 2017
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2. Market Views
2
MONT
H
OPEN HIGH LOW
CLOS
E
% CHG VOL
MONT
H
OPEN HIGH LOW
CLOS
E
% CHG VOL
TURMERIC
APR 5420 5606 5408 5604 3.93 5165
INTRADAY
LEVELS
SUPPORT SUPP. 1
5472
SUPP. 2
5341
PIVOT
5539
Turmeric short term trend
is bearish and may
continue in coming days.
RESISTAN
CE
RES. 1
5670
RES. 2
5737
CORIANDER
APR 5584 5813 5575 5813 3.99 7580
INTRADAY
LEVELS
SUPPORT SUPP.1
5654
SUPP. 2
5495
PIVOT
5733
Coriander short term
trend is bearish and may
continue in coming days.
RESISTAN
CE
RES. 1
5892
RES. 2
5971
GUARGUM 5MT
APR 7801 7948 7730 7906 1.01 6575
INTRADAY
LEVELS
SUPPORT SUPP. 1
7774
SUPP. 2
7643
PIVOT
7861
Guargum Short term
trend is bearish and may
continue in coming days.
RESISTAN
CE
RES. 1
7992
RES. 2
8079
CASTORSEED
FEB - - - - - -
INTRADAY
LEVELS
SUPPORT SUPP. 1
-
SUPP. 2
-
PIVOT
-
-
RESISTA
NCE
RES. 1
-
RES. 2
-

3. Most Active Contract
3
NCDEX INDICES
Index Value
Pre.
Close
%
Change
Castorseed 4512 4339 3.99
Chana - - -
Coriander 5813 5590 3.99
Guargum5MT 7906 7827 1.01
Jeera 18355 18175 0.99
Musterseed 3707 3705 0.05
Soybean 2862 2874 -0.42
Turmeric 5604 5392 3.93
TOP GAINERS
Symbol Expiry Date Current Price Change Change %
TURMERIC 19-05-2017 5596.00 214.00 3.98%
CORIANDER 19-05-2017 5813.00 207.00 3.69%
JEERA 19-05-2017 18375.00 255.00 1.41%
GUAR SEED 10 MT 19-05-2017 3696.00 45.00 1.23%
TOP LOSERS
Symbol Expiry Date Current Price Change Change %
WHEAT 19-05-2017 1579.00 -13.00 -0.82%
COTTON SEED OIL CAKE
AKOLA
19-05-2017 1920.00 -12.00 -0.62%
SOY BEAN 19-05-2017 2864.00 -8.00 -0.28%

4. Commodities In News
4
ECONOMIC NEWS
➢ The state government's decision to deregulate sale of fruits and
vegetables and set up weekly farmer markets has paid off handsomely for
growers. In a report presented to the central planning agency, NITI Aayog,
the state government has revealed that the turnover of 94 farmer markets
across Maharashtra has touched Rs 5 crore per week with sales in the
region of 800-1,000 tonnes. Profits earned thus directly accrue to
cultivators instead of getting divided among various players down the line
extending from farmgate to marketyard, which includes middlemen and
wholesale dealers. It was in June 2016 that the state decided to delist fruits
and vegetables from the Agricultural Produce Market Committee (APMC)
act, allowing growers to sell farm produce directly to consumers. Before
the amendment, they could sell their goods only in a limited number of
markets managed by boards set up under APMC law. People could not buy
directly from them.
➢ The government today projected wheat output at an all-time high of
97.44 million tonnes (MT) in the 2016-17 crop year ending next month due
to good monsoon. India had harvested 92.29 MT wheat during the 2015-16
crop year (July-June). Wheat, the main rabi crop, is being harvested now.
The previous record was 95.85 MT achieved in 2013-14. In its third
estimate released today, the agriculture ministry has revised the 2016-17
wheat output marginally upward by 0.8 MT from its earlier estimate as
yields got better in the absence of any major weather aberrations. Pulses
output also has been revised upward slightly to a record 22.40 MT as
against the actual output of 16.35 million tonnes in the last year. "As a
result of very good rainfall during monsoon 2016 and various policy
initiatives taken by the government, the country has witnessed record
foodgrain production in the current year," the ministry said in a statement.
The country has been able to achieve record output in some of the crops on
the back of good monsoon after two consecutive years of drought. Rains
are crucial as nearly 50 per cent farm land is rainfed in India.
➢ Jeera futures traded higher on NCDEX on rising exports demand at
the spot market. On the export front, country the exports increase by
29.6% to 1,08,513 tons in first 11 month of marketing year 2016/17.
Further, the arrivals have been lower during first 7 days of May
compared to April too fuelled the uptrend. Reports showed that 2,450
tons of jeera arrived in May (1-7) compared to 7,997 in April (1-7).
The contract for May delivery was trading at Rs 18265, up by 0.50% or
Rs 90.00 from its previous closing of Rs 18175. The open interest of
the contract stood at 3120 lots.
➢ Turmeric futures traded higher on NCDEX as participants built up
fresh positions, triggered by uptick in domestic as well export demand
in the spot market. Moreover, restricted supplies from producing
regions also added support to turmeric prices’ uptrend. The contract for
May delivery was trading at Rs 5534.00, up by 2.63% or Rs 142.00
from its previous closing of Rs 5392.00. The open interest of the
contract stood at 5750 lots. The contract for June delivery was trading
at Rs 5640.00, up by 2.77% or Rs 152.00 from its previous closing of
Rs 5488.00. The open interest of the contract stood at 13475 lots on
NCDEX.
➢ Soybean futures traded marginally lower on NCDEX on profit
booking after prices gained on lower arrivals in local mandis. However,
due to poor remuneration this year soybean growers in Madhya
Pradesh, who contribute about 70% of India's total bean output, are
expected to shift to pulses and cotton tempted by attractive prices. The
contract for May delivery was trading at Rs 2867.00, down by 0.24%
or Rs 7.00 from its previous closing of Rs 2874.00. The open interest
of the contract stood at 41690 lots. The contract for June delivery was
trading at Rs 2942.00, down by 0.17% or Rs 5.00 from its previous
closing of Rs 2947.00.

5. Technical Outlook
5
BUY CORIANDER APR ABOVE 5820 TARGET 5850 5890 5840
SL BELOW 5770
SELL TURMERIC MAYBELOW 5560 TARGET 5530 5490 5440
SL ABOVE 5610
BUY GUARGUM5 MAY ABOVE 7950 TARGET 7980 8020 8070
SL BELOW 7700

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Lovelesh
Sharma
Digitally signed by Lovelesh
Sharma
DN: cn=Lovelesh Sharma c=IN
o=Personal
Reason: I am the author of this
document
Location:
Date: 2017-05-09 21:06+05:30