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Epic research daily agri report 01st june 2015
1. DAILY AGRI COMMODITY REPORT
01 June 2015
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2. Market Views
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
CORIANDER
JUNE 13013 13290 12862 12980 -0.15 38890
INTRADAY
LEVELS
SUPPORT SUPP.1
12798
SUPP. 2
12616
PIVOT
13044
Coriander short term
trend is up and May
continue in coming
days.RESISTAN
CE
RES. 1
13226
RES. 2
13472
CASTORSEED
JUNE 4020 4027 3975 3987 -0.57 49250
INTRADAY
LEVELS
SUPPORT SUPP. 1
3966
SUPP. 2
3944
PIVOT
3996
Castorseed short term
trend is up and May
continue in coming
days..RESISTAN
CE
RES. 1
4018
RES. 2
4048
TURMERIC
JUNE 7586 7740 7582 7700 +1.21 8410
INTRADAY
LEVELS
SUPPORT SUPP. 1
7608
SUPP. 2
7516
PIVOT
7674
Turmeric short term
trend is down and May
continue in coming
days.RESISTAN
CE
RES. 1
7766
RES. 2
7832
GUARGUM
JUNE 11190 11210 10970 11010 -0.99 8686
INTRADAY
LEVELS
SUPPORT SUPP. 1
10917
SUPP. 2
10823
PIVOT
11063
Guargum short term
trend is down and May
continue in coming
days.RESISTAN
CE
RES. 1
11157
RES. 2
11303
3. Most Active Contract
3
NCDEX INDICES
Index Value
Pre.
Close
%
Change
CASTORSEED 3987 4010 -0.57
CHANA 4789 4684 +2.24
CORIANDER 12980 13000 -0.15
GUARGUM 11010 11120 -0.99
JEERA 17545 17405 +0.8
MUSTARD SEED 4249 4224 +0.59
SOYABEAN 3980 3962 +0.45
TURMERIC 7700 7608 +1.21
TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
CASTOR SEED NEW 19-06-2015 3995.00 -20.00 -0.50%
BARLEY 19-06-2015 1258.00 -3.00 -0.24%
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE CHANGE %
CHANA 19-06-2015 4747.00 61.00 1.30%
COTTON SEED OIL CAKE
AKOLA
19-06-2015 1806.00 22.00 1.23%
TURMERIC 19-06-2015 7688.00 80.00 1.05%
REFINED SOY OIL 19-06-2015 600.65 3.45 0.58%
RAPESEED-MUSTARD
SEED
19-06-2015 4242.00 17.00 0.40%
JEERA 19-06-2015 17470.00 60.00 0.34%
CORIANDER 19-06-2015 13015.00 15.00 0.12%
SOYABEAN 19-06-2015 3971.00 2.00 0.05%
4. Commodities In News
4
ECONOMIC NEWS
High volatility is likely to continue for the Indian Agri markets
till Monsoon arrives on the Kerala coast. Profit booking was
observed at the higher levels on Thursday as expectations of
Monsoon arriving by end of this week were there. The short term
trend would depend on Monsoon arrival in Kerala and its progress
towards rest of India in coming weeks.Spices, Chana, Guar showed
moderate dips on weather reports; oil complex too failed to recover
despite International markets remaining slight firm. No strong
movement was noted for Chana as profit booking at the higher
levels were noted. The Monsoon arrival date in Kerala remains
important for this week. Prospects of rise in MSP and increased
imports in coming weeks are likely to support the market
sentiments in coming weeks.
The Allahabad High Court has asked sugar mill owners in Uttar
Pradesh to settle 75 per cent of cane arrears to farmers by July 15.
Mill owners owe Rs 10,000 crore.The consolidated dues of private,
cooperative and government mills includes interest dues of Rs 260
crore, based on the state sugar price of Rs 280 a quintal.Hearing the
case, the high court asked the cooperative and government mills to
settle their part of the arrears in the ratios of 25 per cent each by
June 15, June 30 and July 15, respectively. The decision on the
remaining portion would be considered on the next date of hearing
on July 28, the court said in the interim order.Likewise, the private
mills have been asked to settle 25 per cent of their dues by June 15.
The court observed private millers should also settle 75 per cent of
their dues by July 15.Private mills account for the major portion of
arrears (Rs 8,900 crore, including interest payable of Rs 240 crore).
the 23 cooperative and one Uttar Pradesh State Sugar Corporation
Limited unit account for Rs 1,000 crore and Rs 25 crore.
Jeera futures recovered from losses today on short covering amid weak
arrivals. The NCDEX Jeera for the June delivery ended the day at Rs
17,545, up Rs 140 or 0.8%.Spot Jeera was stable around Rs 18k today
amid very poor arrivals in Unjha. Jeera witnessed a correction in last few
days as traders eyed the lack of demand in spot markets. Major buying
would emerge only around Ramadan now and falling arrivals might not
support prices much after a near 50% rally in spot prices over last six
months. Prices had soared above Rs 18400 levels last week and quote at
Rs 18100 per quintal today, up Rs 90 per quintal on the day. Tight arrivals
in major trading centres have kept Jeera supported in last few weeks.
Harvesting has been affected on late rains in Rajasthan and overall output
could suffer.
Turmeric futures recovered on short covering amid buying support
emerged in the physical market. The NCDEX turmeric for the June
delivery ended the day at Rs 7700, up Rs 92 or 1.21%. Turmeric edged up
a bit after recent declines amid bargain buying. Slight rainfall in Erode
capped the gains for Turmeric in last few days. Turmeric has stayed
supported off late as growers are refusing to sell at lower levels. Traders
are expecting further decline in the coming days due to possibility of new
supplies from other producing states, primarily in Karnataka in near term.
Coriander futures hit the upper limit as spot prices rose on low
availability of good quality spice and robust demand from bulk
buyers.However, imposition of an additional margin may control the
volatility in coriander prices. NCDEX has imposed an additional cash
margin of 5 percent on long and short positions in all coriander contracts,
the exchange said in a release.Coriander stocks at NCDEX warehouses
increased to 16810 tonnes on Wednesday, from 16722 tonnes previous
day. As per reports, in Rajasthan due to heavy summer rainfall during
March-April coriander yield reported damaged around 20 percent. In
Madhya Pradesh, yield loss reported 5 percent. In Gujarat, yield damage
reported 2.5 percent.Weather was dry over Gujarat region.
5. 5
Fundamental Watch : Castorseed
CASTORSEED ARRIVALS AT KEY SPOT
MARKET
National Market Update
Major cash markets traded lower on Friday. Buyers preferred to wait for clear
market direction and closed Rs 30 to Rs 50 per qtl, lower. Higher seed price restricted
planters buying as parity for same in seed crushing and oil recovery turned negative
once again. However inner tone remains firm in the medium term.
Castor seed price in Rajkot too traded up by Rs 1250 to Rs 38000 per tonne from
Rs 36750 per tonne in the third week of May. However, it is -2.56 percent lower from
the price realized during May,2014.
Castor oil First grade FOB Kandla has increased from $1215 to $1240 per tonne
and may move slightly up by $20 per tonne in fifth week of May. It may trade in the
range of $1240 to $1260 per Tonne .It was ruling $1383 in May 2014,up by11.53
percent From Current quote.
Agriculture statistics Division, DES has released Third Adv estimates of Production
of foodgrains for 2014-15 on 13.05 2015.It has revised castor production estimate
down by 87 thousan tonne to 18.24 lakh tonne. In second Adv Est. castor production
was estimated at 19.11 lakh tonne. The minor decrease in third Adv . Est is mainly
attributed to inclement weather and yield loss. India has produced 17.27 lakh tonne
castor seed in 2013-14.Target for the year was 16.65 lakh tonne.
China, EU,US may start restricted buying once again by the end of the month. There
is a gossip in the market that some forward deals have been finalized for July –August
shipment. Prices of this deal has not been disclosed .
Castor oil in Rotterdam decreased from $1700 to $1525 per tonne in last one month
and may touch $1500 per tonne in the month of March. Pressure on Indian market and
decreasing trend continue to impact global market in the weeks ahead.
CENTER 29-May-15 28-May-15 Change
SUMERPUR 1200 1200 UNCH
JODHPUR 80 NA -
RAJKOT NA 262 -
GONDAL NA 496 -
PATAN 4875 6000 -1125
MAHESANA 560 800 -240
DEESA 2000 1600 +400
6. Technical Outlook
6
BUY CORIANDER JUNE ABOVE 13150 TARGET 13175 13215 SL
BELOW 13125
SELL GUARGUM JUNE BELOW 10970 TARGET 10920 10860 SL
ABOVE 11030
SELL TURMERIC JUNE BELOW 7630 TARGET 7590 7530 SL
ABOVE 7690
SELL CASTORSEED JUNE BELOW 3975 TARGET 3950 3920 SL
ABOVE 4000
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