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1. DAILY AGRI COMMODITY REPORT
24 June 2016
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2. Market Views
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
TURMERIC
JUL 8126 8260 8090 8176 +0.81 10050
INTRADAY
LEVELS
SUPPORT SUPP. 1
8091
SUPP. 2
8005
PIVOT
8175
Turmeric short term
trend is bearish and
May continue in
coming days.RESISTAN
CE
RES. 1
8261
RES. 2
8345
CORIANDER
JUL 7220 7319 7210 7250 +0.17 5030
INTRADAY
LEVELS
SUPPORT SUPP.1
7200
SUPP. 2
7150
PIVOT
7260
Coriander short term
trend is bearish and May
continue in coming
days.RESISTAN
CE
RES. 1
7310
RES. 2
7369
GUARGUM
JUL 5520 5610 5460 5480 -0.90 20442
INTRADAY
LEVELS
SUPPORT SUPP. 1
5423
SUPP. 2
5367
PIVOT
5517
Guargum short term
trend is bearish and
May continue in
coming days.RESISTAN
CE
RES. 1
5573
RES. 2
5667
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 6970 6897 +1.06
CORIANDER 7250 7238 +0.17
GUARGUM 5480 5530 -0.90
JEERA 17660 17610 +0.28
MUSTARD
SEED
4707 4745 -0.80
SOYABEAN 3813 3848 -0.91
TURMERIC 8176 8110 +0.81
TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
SOY BEAN 20-07-2016 3813.00 -34.00 -0.88%
GUAR GUM 20-07-2016 5480.00 -40.00 -0.72%
BARLEY 20-07-2016 1574.00 -0.50 -0.03%
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
CHANA 20-07-2016 6970.00 72.00 1.04%
TURMERIC 20-07-2016 8176.00 66.00 0.81%
CORIANDER 20-07-2016 7250.00 30.00 0.42%

4. Commodities In News
4
ECONOMIC NEWS
As government proposes to bring new guidelines to regulate BT cotton
market, apex seed industry body NSAI today said there should not be any
need for licensing agreement with technology providers as seed firms have
right to access transgenic varieties to develop hybrids.The Union
Agriculture Ministry last month issued a notification prescribing new
guidelines for licensing and royalty/trait value fixation of BT cotton
seeds.Under the fresh norm, royalty for the new genetically modified (GM)
traits was capped at 10 per cent of the maximum sale price of BT cotton
seeds for the first 5 years. Eligible seed firms get access to the GM
technology was also ensured.But later, the government withdrew the
notification and turned it into a draft guidelines to seek comments from
stakeholders amid opposition from crop biotech industry."There is no need
of any licensing agreement for GM traits to be signed by the plant breeders,
farmers, researchers either in public or in private sector as per the
provisions under the Protection of Plant Varieties & Farmers' Right Act,
2001," National Seed Association of India (NSAI) President M Prabhakar
Rao said.He said "the breeders have a right to access any transgenic variety
for developing new varieties and need not sign any licence agreement for
carrying out the basic activities of the seed companies." Rao termed the
overall draft guidelines issued by the government as balanced."The one-
sided licensing agreement imposed by Monsanto has created monopoly in
Bt cotton seed market," NSAI Executive Director Kalyan Goswami
said.On trait value, Goswami said the association would support the
payment of royalty if it is "fair and reasonable" and encourages the
development of new GM technology.NSAI has prepared a draft response
and put it on its own website for comments from its 377 members by July
15.The government's draft policy came two months after it fixed the MSP
of Bt cotton seed packets at Rs 800 per packet for bollgard (BG)-II version
of Bt cotton hybrid, including Rs 49 for the trait value. The seed price was
fixed as per the Cotton Seeds Price Control Order issued in December
2015.As per the draft 'Licensing and Formats for GM Technology
Agreement Guidelines, 2016,' after the first 5 years, royalty would reduce
by 10 per cent of initial value every year.
Ref Soya oil on NCDEX settled down on over supply following
higher imports data. Prices also seen under pressure due to sufficient
supplies in the physical market and weak physical demand as edible oil
imports into the country decline last month. Moreover, sufficient stock
in the physical market on report of higher imports may weigh on prices
at higher levels. Oilmeal exports during May 2016 are reported at only
7,737 tons compared to 121,339 tons in May 2015 - down by 94%
according to data compiled by Solvent Extractors' Association of
India.Farmers of MP and Maharashtra may switch to pulses and other
cash crop due to lower crushing demand. According to the SOPA,
output of the soybean for 2015-16 is forecasted down at 6.9 mt,
compared to earlier estimate of 7.4 mt. According to USDA soy oil
stocks as of May 31 stood at 1.994 billion lbs. Stocks were 1.578
billion lbs a year ago and 1.943 billion at the end of April. USDA
trimmed 2015-16 United States soybean production forecast for June
and also cut its forecast for ending stockpiles, the department said in its
World Agriculture Supply and Demand Estimates report.
Jeera on NCDEX settled down on profit booking after prices gained
in last session on expectation of export demand and lower arrivals.
After suffering a setback during the last fiscal, jeera exports have
picked in the last 3-4 months with emergence of demand from China.
There are also reports that Bangladesh has removed jeera import duty.
Supplies from the other two major producers and exporters- Syria and
Turkey- are stated to be poor.Industrial buyers have already sourced
sufficient quantity for the domestic requirements but the export demand
may pick up as prices have been going down since last one month. In
the next few months, the prices will depend on export demand. At
Dhrol market in Jamnagar (Guj.), estimated market supply was at 37
quintals, up by 10 quintals as against previous day. At Patan market in
Patan (Guj.), total arrivals are at 17 quintals, down by 54 quintals from
previous day’s arrivals. At Nagaur(Raj.) total arrivals are at 100
quintals, down by 150 quintals from previous trading day. Exporters
reported active in the domestic market.

5. 5
Fundamental Watch : Castorseed
CASTORSEED PRICES AT KEY SPOT
MARKET
National Market Update
Lower arrival at this point of time, poor price realization despite good pace
of oil export may encourage farmers to retain stock until price recovers.
Maximum old stock75 to 80 % is believed to be consumed. So recovery in
cash market is expected in the near to medium term. Fear of lower area
coverage may lend support to cash market fundamental at current level.
Castor area is likely to decrease by 10 to 15% this year if producing states
receives good rainfall in next 10 days. Farmers may shift castor area to
moong, moth, turmeric, cotton, chilly, peanuts and Urad as prices of these
commodities rule considerably higher this year. Govt. has fixed MSP for
Pulses and it would buy it to make a buffer stock. So farmers are sure to get
MSP for these crops.
As of now monsoon rainfall has not been up to the mark. However,
prospects still remains intact for good rainfall in coming days. If growing
region receives good rainfall after mid July, castor price would not move up as
per our current expectation and if the region receives good rainfall in next two
weeks castor area is bound to decline.
All India average price for castor seed increased slightly by 0.17 % from Rs
3018.53 to Rs 3023.86 per qtl during the week ended18 th June-2016. It is
lower by 9.25 % from the price registered in the third week of June, 2015.
CENTER 23-Jun-16 22-May-16 Change
SUMERPUR 3000 2950 +50
PATAN 3150 3140 +10
MEHSANA 3085 3075 +10
BHABAR 3125 3075 +50
HARJI 3160 3100 +60
RAJKOT 3110 3100 +10
KADI 3130 3120 +10

6. Technical Outlook
6
SELL CORIANDER JULY BELOW 7205 TARGET 7160 7060 SL
ABOVE 7270
SELL GUARGUM JULY BELOW 5480 TARGET 5430 5360 SL
ABOVE 5540
SELL TURMERIC JULY BELOW 8150 TARGET 8106 8046 SL
ABOVE 8210

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