The daily agri commodity report summarizes market trends for turmeric, coriander, guargum and other commodities. Turmeric, coriander and guargum futures are bearish and may continue declining in the short term. Economic news highlights a target of 16 million metric tonnes of fisheries production by 2019-20 and predictions of record foodgrain yields in the new crop year. Soybean and turmeric futures traded lower due to higher stocks while jeera edged lower on lower domestic and export demand.

1. DAILY AGRI COMMODITY REPORT
24 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
JUN 5640 5640 5452 5482 -3.01 3925
INTRADAY
LEVELS
SUPPORT SUPP. 1
5409
SUPP. 2
5336
PIVOT
5524
Turmeric short term trend
is bearish and may
continue in coming days.
RESISTAN
CE
RES. 1
5597
RES. 2
5712
CORIANDER
JUN 5397 5398 5169 5169 -3.99 14240
INTRADAY
LEVELS
SUPPORT SUPP.1
5092
SUPP. 2
5016
PIVOT
5245
Coriander short term
trend is bearish and may
continue in coming days.
RESISTAN
CE
RES. 1
5321
RES. 2
5474
GUARGUM 5MT
JUN 7859 7890 7636 7703 -1.63 20190
INTRADAY
LEVELS
SUPPORT SUPP. 1
7596
SUPP. 2
7489
PIVOT
7743
Guargum Short term
trend is bearish and may
continue in coming days.
RESISTAN
CE
RES. 1
7850
RES. 2
7997
CASTORSEED
- - - - - - -
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 4498 4492 0.13
Chana - - -
Coriander 5169 5384 -3.99
Guargum5MT 7703 7831 -1.63
Jeera 18030 18110 -0.44
Musterseed 3606 6848 -1.15
Soybean 2786 2814 -1.00
Turmeric 5482 5652 -3.01
TOP GAINERS
Symbol Expiry Date Current Price Change Change %
MAIZE -
FEED/INDUSTRIAL
GRADE
20-06-2017 1332.00 4.00 0.30%
TOP LOSERS
Symbol Expiry Date Current Price Change Change %
CORIANDER 20-06-2017 5169.00 -199.00 -3.71%
TURMERIC 20-06-2017 5482.00 -168.00 -2.97%
GUAR SEED 10 MT 20-06-2017 3584.00 -49.00 -1.35%
BARLEY 20-06-2017 1434.50 -18.50 -1.27%
COTTON SEED OIL CAKE
AKOLA
20-06-2017 1884.00 -24.00 -1.26%
V 797 KAPAS 30-04-2018 958.50 -11.00 -1.13%

4. Commodities In News
4
ECONOMIC NEWS
➢ The agriculture ministry today said it has no reservations about GM
Urging the government to double the outlay of Rs 3,000 crore for
development and management of fisheries sector, apex industry body
Assocham on Tuesday said that India could achieve about 16 million
metric tonnes (MMT) of inland and marine fisheries’ production by 2019-
20 thereby adopting a target oriented approach to achieve eight per cent
growth year-on-year. “Aided by government’s efforts to bring systemic
changes in processing sector, the domestic segment in raw and processed
fisheries sector in value terms is expected to touch Rs 1.5 lakh crore by
2020 and total domestic retail market is forecast to cross Rs 61 lakh crore
or almost triple in next 4-5 years,” noted a just-concluded Assocham study
titled ‘Fisheries in India: Potential & prospects; Reference state – West
Bengal.’ “Thus coupled with exports, fisheries sector in India should aim
at a target of Rs two lakh crore by 2020 in value terms,” added the study
conducted by agri & food processing division of Assocham.
➢ Unveiling a three-year roadmap (2017-20) intended to take farm growth
to new heights, Union agriculture minister Radha Mohan Singh said on
Monday that foodgrain production in 2016-17 had broken all records.The
new crop year too would see record yields, he added, due to the
government's policy interventions, cooperation from states', and a normal
monsoon for the second consecutive year. Earlier this month, the ministry
had estimated foodgrain production for the 2016-17 crop year (July-June)
at 273.38 million tonnes (MT), which is over 8 MT higher than the
previous record, 265.04 MT in 2013-14, and 8.67% higher than last year's
foodgrain production. The weatherman has added to the cheer. “The India
Meteorological Department has predicted a normal monsoon for this year.
If the monsoon is good, I am confident that the foodgrain production will
be a new record (in 2017-18). It will boost growth rate in agriculture and
allied sectors to more than 4.4% achieved in 2016-17,“ Singh said.
➢ Soybean futures traded lower on NCDEX as speculators trimmed
their positions due to reports of higher stocks of soybean with farmers
and traders. Soyabean prices also dropped by lower demand in spot
markets as 60 percent of soybean mills in Madhya Pradesh reported to
have shut down because of subdued demand for soymeal and lower
prices of soyoil. The contract for June delivery was trading at Rs
2788.00, down by 0.92% or Rs 26.00 from its previous closing of Rs
2814.00. The open interest of the contract stood at 125220 lots. The
contract for July delivery was trading at Rs 2856.00, down by 0.87% or
Rs 25.00 from its previous closing of Rs 2881.00. The open interest of
the contract stood at 46730 lots on NCDEX.
➢Turmeric futures edged down on NCDEX as participants reduced
exposure due to easing demand at the domestic spot markets. Further,
adequate stock position on increased supplies from the producing
regions too fuelled the downtrend. The contract for June delivery was
trading at Rs 5576.00, down by 1.34% or Rs 76.00 from its previous
closing of Rs 5652.00. The open interest of the contract stood at 15910
lots. The contract for July delivery was trading at Rs 5672.00, down by
1.08% or Rs 62.00 from its previous closing of Rs 5734.00.
➢ Jeera futures edged lower on NCDEX as speculators engaged in
trimming positions to book profits at prevailing levels amid lower
domestic and exports demand at the spot market. Furthermore, ample
stocks position following higher supplies from major growing regions
in Gujarat and Rajasthan too fuelled the downtrend. The contract for
May delivery was trading at Rs 18000, down by 0.61% or Rs 110.00
from its previous closing of Rs 18110. The open interest of the contract
stood at 16182 lots. The contract for June delivery was trading at Rs
18145, down by 0.74% or Rs 135.00 from its previous closing of Rs
18280.

5. Technical Outlook
5
SELL CORIANDER APR BELOW 5150 TARGET 5120 5080 5030
SL ABOVE 5200
SELL TURMERIC MAYBELOW 5450TARGET 5420 5380 5330 SL
ABOVE 5500
BUY GUARGUM5 MAY ABOVE 7780 TARGET 7810 7850 7900
SL BELOW 7730

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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: 2017-05-23 20:46+05:30