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Epic research weekly agri report 03 oct 2016
1. WEEKLY AGRI COMMODITY REPORT
03 OCTOBER 2016
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2. Weekly Wrap Up
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
CORIANDER
SEP 7600 7720 7519 7606 0.48 17690
INTRADAY
LEVELS
SUPPORT SUPP.1
7510
SUPP. 2
7141
PIVOT
7615
Coriander short term
trend is bearish and may
continue in coming days.
RESISTAN
CE
RES. 1
7711
RES. 2
7816
CASTORSEED
- - - - - - -
INTRADAY
LEVELS
SUPPORT SUPP. 1
-
SUPP. 2
-
PIVOT
-
-
RESISTAN
CE
RES. 1
-
RES. 2
-
TURMERIC
SEP 6938 7264 6870 7186 4.39 36115
INTRADAY
LEVELS
SUPPORT SUPP. 1
6949
SUPP. 2
6713
PIVOT
7107
Turmeric short term
trend is bearish and may
continue in coming days.
RESISTAN
CE
RES. 1
7343
RES. 2
7501
GUARGUM
OCT 6970 7050 6510 6630 -4.47 116120
INTRADAY
LEVELS
SUPPORT SUPP. 1
6410
SUPP. 2
6190
PIVOT
6730
Guargum Short term
trend is bearish and
may continue in coming
days.RESISTAN
CE
RES. 1
6950
RES. 2
7270
4. Commodities In News
4
ECONOMIC NEWS
The southwest monsoon ended with a 3% rainfall deficit, which is
considered near normal, leaving a wider area under cultivation and higher
reservoirs levels that will help the kharif, or summer, harvest and boost
planting of crops in winter. The India Meteorological Department had
initially forecast that rainfall during the June-to-September monsoon
would be 6% above the long-term average. Earlier this month, the
department scaled down the estimate and said the monsoon would be
normal at 100%, with a variation of plus or minus 4%.
The end of monsoon season report will be released by next week, said DS
Pai, director, long-range forecast, at IMD. The country received 862 mm
of rainfall compared with the normal level of 887.5 mm. Normal to excess
rainfall occurred in 27 of the 36 subdivisions. Most parts of northwest, east
and south India received subnormal rainfall, although farmers in Punjab
and Haryana have access to canal irrigation, which helps crop survive even
if rainfall is scanty.
A government think tank, Research and Information System (RIS), for
developing countries has submitted a report to the ministry of
environment, forest and climate change (MOEF CC) on a framework for
assessment of new genetically modified products, based on socio-
economic aspects. This is aimed to address concerns among farmers and
consumers regarding these crops. The report is with the ministry, which is
expected to take a call for finalisation of the framework for application, in
the coming days. “The companies which want to apply for approval of
GM products would have to factor in socio economic consideration before
government approves the products, aims the report," says Sachin
Chaturvedi, director general at RIS on the sidelines of a conference on
protest of GM mustard organized by the Swadeshi Jagran Manch- the
economic wing of the Rashtriya Swayamsevak Sangh (RSS). Companies
need to address five important aspects, namely economic, social, cultural,
health and environment - bringing relevant 58 indicators for the
assessment, says Chaturvedi.
Soybean futures traded marginally higher on NCDEX, despite forecast of
dry weather condition in Rajasthan, Madhya Pradesh and Maharashtra
which aid harvesting of new season crop. The contract for October delivery
was trading at Rs 3225.00, up by 0.59% or Rs 19.00 from its previous
closing of Rs 3206.00. The open interest of the contract stood at 51350 lots.
The contract for November delivery was trading at Rs 3250.00, up by 0.31%
or Rs 10.00 from its previous close of Rs 3240.00. The open interest of the
contract stood at 96070 lots on NCDEX.
Turmeric futures edged lower on NCDEX due to higher sowing acreage
in the current season. Though, some losses were capped on expectation of
pickup in domestic demand ahead of festival season. The contract for
October delivery was trading at Rs 7218.00, down by 0.30% or Rs 22.00
from its previous closing of Rs 7240.00.The open interest of the contract
stood at 11780 lots. The contract for November delivery was trading at Rs
7250.00, down by 0.22% or Rs 16.00 from its previous closing of Rs
7266.00. The open interest of the contract stood at 9140 lots on NCDEX.
Turmeric futures edged lower on NCDEX due to higher sowing acreage
in the current season. Though, some losses were capped on expectation of
pickup in domestic demand ahead of festival season. The contract for
October delivery was trading at Rs 7218.00, down by 0.30% or Rs 22.00
from its previous closing of Rs 7240.00.The open interest of the contract
stood at 11780 lots. The contract for November delivery was trading at Rs
7250.00, down by 0.22% or Rs 16.00 from its previous closing of Rs
7266.00. The open interest of the contract stood at 9140 lots on NCDEX.
Coriander futures declined on NCDEX as speculators trimmed their
positions on the back of easing demand in the spot market. Further, rising
arrivals from major growing belts also fuelled the downtrend. The contract
for October delivery was trading at Rs 7643.00, down by 0.59% or Rs 45.00
from its previous closing of Rs 7688.00. The open interest of the contract
stood at 11950 lots. The contract for November delivery was trading at Rs
7511.00, down by 0.03% or Rs 2.00 from its previous closing of Rs
7513.00. The open interest of the contract stood at 3190 lots on NCDEX.
5. 5
NEWS RECAP
COMMODITY HEADLINES
Jeera export reported up during the week
Cardamom Futures (October) Hit Upper Circuit Level, AW estimate lower production
Malaysia Palm Oil Exports Down 15 percent In September
Monsanto pulls new GM cotton seed from India in protest
CAI Estimates India's Cotton Production At 398 Lakh Bales In 2016 -17
Water Storage In Major Reservoirs Up 22% On Year
India likely to import 2 MT wheat to boost supplies
ICAR to train 24 lakh agri-workers by 2022
Indian sugar production estimate at 23.5 million metric tonne, down 6.5% year on year: Platts
Mahindra Univeg announces minority shareholding in MeraKisan
India gets 3% lower rainfall in June-September monsoon
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