This daily commodity report provides information on commodity prices and market trends for turmeric, coriander, guar gum, and castorseed. Turmeric and coriander prices declined slightly, while guar gum and castorseed prices were stable. The report also includes the most active contracts, top gainers and losers, economic news on wheat and soybean imports and exports, and technical analysis trade recommendations.

1. DAILY AGRI COMMODITY REPORT
17 January 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 6612 6630 6538 6580 -0.63 720
INTRADA
Y LEVELS
SUPPORT SUPP.1
6535
SUPP. 2
6490
PIVOT
6582
Turmeric short term
trend is bearish and May
continue in coming days.
RESISTA
NCE
RES. 1
6627
RES. 2
6674
CORIANDER
JAM 7590 7971 7833 7851 -0.22 780
INTRADAY
LEVELS
SUPPORT SUPP.1
7799
SUPP. 2
7749
PIVOT
7885
Coriander short term
trend is bearish and May
continue in coming days.
RESISTA
NCE
RES. 1
7937
RES. 2
8023
GUARGUM 5MT
JAN 6265 6275 6247 6317 -0.95 430
INTRADAY
LEVELS
SUPPORT SUPP. 1
6285
SUPP. 2
6251
PIVOT
6279
Guargum short term
trend is bearish and May
continue in coming days.
RESISTA
NCE
RES. 1
6312
RES. 2
6307
CASTORSEED
FEB 4194 4236 4180 4195 0.05 116
INTRADAY
LEVELS
SUPPORT SUPP. 1
4171
SUPP. 2
4147
PIVOT
4203
Castorseed short term
trend is bearish and May
continue in coming days.
RESISTA
NCE
RES. 1
4227
RES. 2
4259

3. Most Active Contract
3
NCDEX INDICES
Index Value
Pre.
Close
%
Change
Castorseed 4195 4193 0.05
Chana - - -
Coriander 7270 7389 -1.16
Guargum5MT 6257 6317 -0.95
Jeera 18815 18610 1.10
Mustard seed 4098 4003 0.61
Soybean 3085 3066 0.62
Turmeric 6580 6622 -0.63
TOP GAINERS
Symbol Expiry Date Current Price Change Change %
SOYAMEAL-DOMESTIC 20-03-2017 24250.00 1070.00 4.62%
JEERA 20-01-2017 18815.00 325.00 1.76%
SOY BEAN 20-01-2017 3030.00 40.00 1.34%
TOP LOSERS
Symbol Expiry Date Current Price Change Change %
COTTON SEED OIL CAKE
AKOLA
20-01-2017 2146.00 -31.00 -1.42%
SUGAR M GRADE 20-03-2017 3860.00 -37.00 -0.95%
GUAR SEED 10 MT 20-01-2017 3255.00 -24.00 -0.73%
CORIANDER 20-01-2017 7270.00 -35.00 -0.48%

4. Commodities In News
4
ECONOMIC NEWS
 Indian importers have purchased 2.7 million tonnes of wheat from
Australia, France and Ukraine so far this fiscal and additional 1.2 million
tonnes of grain is expected to arrive by the end of next month. However,
traders have not signed any import deals for wheat delivery beyond March
as they are sceptical that the government may reimpose customs duty on
the grain when the harvesting of the new crop starts from April 2017. Last
month, the government had brought down wheat import duty to zero from
10 per cent to boost domestic availability and check price rise. "About 2.7
million tonnes of wheat has been imported so far in 2016-17 from Ukraine,
Australia and France. About 1.2 million tonnes of wheat will arrive by
February-end," Federation of India Ex-President M K Datta Raj told
PTI. Only 3,00,000 tonnes of wheat was imported last month as shipments
could not sail due to severe cold weather in some countries, he said.
 Drought-hit Tamil Nadu today urged the Centre to sanction Rs 39,565
crore from the National Disaster Response Fund towards mitigation
measures, with Chief Minister O Panneerselvam seeking Rs 1,000 crore
urgently as the state government does not have sufficient funds to meet the
challenge. Panneerselvam also urged Prime Minister Narendra Modi to
depute a Central team "to study the extensive damage caused to agriculture
crops and to take stock of the drinking water scarcity in the state". A
detailed memorandum on the drought situation in the state, besides a letter
from Panneerselvam to the Prime Minister, was handed over at the PMO in
New Delhi by Relief Commissioner and Commissioner of Revenue
Administration K Satyagopal and Revenue Secretary B Chandra Mohan. In
his letter, copy of which was released here, Panneerselvam said Tamil
Nadu experienced a 62 per cent deficient northeast monsoon, following the
20 per cent deficiency in southwest monsoon. All 32 districts in the state
had received rainfall which was "scanty or deficient and the range is from
35 per cent to 81 per cent," he said, adding, the state has already been
declared drought-hit.
 Turmeric futures edged lower on NCDEX on higher turmeric output
due to good sowing and favorable weather conditions at the producing
belts. Though, some losses were capped on anticipation of rising
physical as well as export demand at the spot market. The contract for
April delivery was trading at Rs 6588, down by 0.51% or Rs 34 from
its previous closing of Rs 6622. The open interest of the contract stood
at 12820 lots. The contract for May delivery was trading at Rs 6600,
down by 0.72% or Rs 48 from its previous closing of Rs 6648. The
open interest of the contract stood at 1075 lots on NCDEX.
 Soybean futures edged higher on NCDEX due to increasing demand
from the bulk buyers and oil millers at the spot market. Soybean prices
improved further after the USDA trimmed its estimate of the US 2016
soybean yield to 52.1 bushels per acre, still an all-time high, but down
from its previous figure of 52.5 and below an average of trade
estimates for 52.7. The agency also lowered its forecast of US 2016/17
soybean ending stocks to 420 million bushels, from 480 million last
month. The contract for January delivery was trading at Rs 3026.00, up
by 0.23% or Rs 7.00 from its previous closing of Rs 3019.00. The open
interest of the contract stood at 15530 lots. The contract for February
delivery was trading at Rs 3085.00, up by 0.62% or Rs 19.00 from its
previous closing of Rs 3066.00.
 Turmeric futures edged lower on NCDEX on higher turmeric output
due to good sowing and favorable weather conditions at the producing
belts. Though, some losses were capped on anticipation of rising
physical as well as export demand at the spot market. The contract for
April delivery was trading at Rs 6588, down by 0.51% or Rs 34 from
its previous closing of Rs 6622. The open interest of the contract stood
at 12820 lots. The contract for May delivery was trading at Rs 6600,
down by 0.72% or Rs 48 from its previous closing of Rs 6648. The
open interest of the contract stood at 1075 lots on NCDEX.

5. Technical Outlook
5
SELL CORIANDER APRBELOW 7820 TARGET 7805 7745 7675
SL ABOVE 7850
BUY TURMERIC 20APR ABOVE 6650 TARGET 6680 6720 6770
SL BELOW 6602
BUY GUARGUM5 FEBABOVE 6380 TARGET 6410 6470 6520
SL BELOW 6330
BUY CASTORSEED FEB ABOVE 4260 TARGET 4280 4310 SL
BELOW 4230

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