Turmeric, coriander, and guargum futures closed lower, higher, and higher respectively on September 11, 2017. Soybean and jeera futures edged marginally higher and lower due to changes in supply and demand. The report provides support and resistance levels for intraday trading. It summarizes commodity market news and economic news affecting agri commodities and provides technical trading recommendations.

1. 11-September-2017
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Agri Commodity Update

2. MONTH OPEN HIGH LOW CLOSE % CHG VOL
TURMERIC
SEP 7724 7758 7610 7638 -0.57 3365
INTRADAY
LEVELS
SUPPORT SUPP.1
7579
SUPP. 2
7520
PIVOT
7668
Turmericshort term
trend is bearish and may
continue in coming days.
RESISTANCE
RES. 1
7727
RES. 2
7816
CORIANDER
SEP 4730 4730 4586 4586 -2.98 13530
INTRADAY
LEVELS
SUPPORT SUPP.1
4538
SUPP. 2
4490
PIVOT
4634
Coriander short term
trend is bearish and may
continue in coming days.
RESISTANCE
RES. 1
4682
RES. 2
4778
GUARGUM 5MT
OCT 8116 8335 8116 8264 1.95 19790
INTRADAY
LEVELS
SUPPORT SUPP.1
8141
SUPP. 2
8019
PIVOT
8238
Guargum Short term
trend is bearish and may
continue in coming days.
RESISTANCE
RES. 1
8360
RES. 2
8457
CASTORSEED
- - - - - - -
INTRADAY
LEVELS
SUPPORT SUPP.1
-
SUPP.2
-
PIVOT
-
-
RESISTANC
E
RES. 1
-
RES. 2
-
Market Views
MONTH OPEN HIGH LOW CLOSE % CHG VOL
Agri Commodity Update

3. NCDEX INDICES
Index Value Pre. Close
%
Change
Castorseed 4615 4621 -0.13
Chana - - -
Coriander 4586 4727 -2.98
Guargum5MT 8264 8106 1.95
Jeera 19685 19655 0.15
Musterseed 3759 3775 -0.42
Soybean 3097 3083 0.45
Turmeric 7638 7682 -0.57
TOP GAINERS
Symbol Expiry Date Current Price Change Change %
GUAR SEED 10 MT 18-10-2017 3829.00 37.00 0.98%
V 797 KAPAS 30-04-2018 891.50 6.00 0.68%
REF SOYA OIL 20-09-2017 662.30 2.10 0.32%
TOP LOSERS
Symbol Expiry Date Current Price Change Change %
CORIANDER 20-09-2017 4640.00 -73.00 -1.55%
MAIZE -
FEED/INDUSTRIAL
GRADE
20-09-2017 1256.00 -18.00 -1.41%
WHEAT 20-09-2017 1617.00 -11.00 -0.68%
TURMERIC 19-09-2017 7644.00 -36.00 -0.47%
Most Active Contract
Agri Commodity Update

4. ECONOMIC NEWS
 MonsantoBSE -2.71 % is selling its branded cotton seeds business in India to
Hyderabad-based Tierra Agrotech, although the US biotechnology major
would remain invested in farming segments such as corn seeds, crop
protection, vegetables and Bollgard II technologies. Industry sources said the
exit from India, where Monsanto pioneered the use of genetically modified
(GM) technology, will help secure regulatory approval for Bayer’s acquisition
of the US company. The global majors have earlier announced sales of
businesses in other markets to address regulatory concerns over the
merger. Monsanto has faced headwinds in the cotton seeds market and
threatened to exit India after New Delhi had imposed price controls. It has
also faced scrutiny under India’s competition laws, and is locked in a bitter
dispute with a major player in the Indian seeds market, Nuziveedu Seeds,
which also uses Monsanto’s Bt Cotton technology.
 India’s ability to predict the sort of devastating rainfall that struck Mumbai
last week is set to get a major boost next year. The heaviest rainfall since 2005
killed a dozen people in India’s financial capital, disrupted stock and bond
trading and halted a suburban train network that carries about 8 million
people a day. Local residents and civic authorities struggled to cope as most
roads were submerged and commuters waded through waist-deep
floodwater. While the India Meteorological Department accurately predicted
the heavy rain for the broader Mumbai region and its sprawling suburbs, its
capacity to forecast rain in a small geographical area should improve
drastically by the middle of next year when the government installs two more
supercomputers and a suite of new radars. That’ll give it the same forecasting
power as the U.K., U.S. and Australia’s, according to the man responsible for
the 142-year-old weather office. “That will help us make more probabilistic
forecast for actual rainfall in a particular area,” K. J. Ramesh, director general
of India Meteorological Department said in an interview in New Delhi.
 Soyabean futures traded marginally higher on NCDEX as speculators
enlarged their positions on improved physical demand from oil mills and
lower acreage in the country, though reports of arrival of new season
soybean in Madhya Pradesh capped some gains. The contract for October
delivery was trading at Rs 3106.00, up by 0.75% or Rs 23.00 from its
previous closing of Rs 3083.00. The open interest of the contract stood at
43240 lots. The contract for November delivery was trading at Rs 3135.00,
up by 0.77% or Rs 24.00 from its previous closing of Rs 3111.00. The open
interest of the contract stood at 41670 lots on NCDEX.
 Jeera futures edged down on NCDEX amid lower domestic and exports
demand at the spot market. Besides, ample stocks position following
higher supplies from the producing regions too fuelled the downtrend.
The contract for September delivery was trading at Rs 19645.00, down by
0.05% or Rs 10.00 from its previous closing of Rs 19655.00. The open
interest of the contract stood at 10797 lots. The contract for October
delivery was trading at Rs 19260.00, down by 0.44% or Rs 85.00 from its
previous closing of Rs 19345.00. The open interest of the contract stood at
8424 lots on NCDEX.
 Cotton futures edged higher on MCX due to rising domestic as well as
export demand in the domestic spot market. Further, delay in fresh
arrivals mainly from Haryana and Punjab due to incessant rainfall in
northern region also fuelled the uptrend. The contract for October
delivery was trading at Rs 19150.00, up by 0.52% or Rs 100.00 from its
previous closing of Rs 19050.00. The open interest of the contract stood at
2551 lots. The contract for November delivery was trading at Rs 18820.00,
up by 0.37% or Rs 70.00 from its previous closing of Rs 18750.00. The
open interest of the contract stood at 1902 lots on MCX.
Commodities In News
Agri Commodity Update

5. SELL CORIANDER BELOW 4570 TARGET 4540 4500 4450 SL ABOVE 4620 SELL TURMERIC BELOW 7600 TARGET 7570 7530 7480 SL ABOVE 7650
BUY GUARGUM5 ABOVE 8320 TARGET 8350 8390 8440 SL BELOW 8270
Technical Outlook
Agri Commodity Update

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Daily Agri Update
Lovelesh
Sharma
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Lovelesh Sharma
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Reason: I am the author of
this document
Location:
Date: 2017-09-08
21:48+05:30