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DAILYAGRI COMMODITY REPORT
16 January 2015
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1
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Market Views
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
DHANIYA
APR 7362 7600 7070 7310 -2.81 20600
INTRADAY
LEVELS
SUPPORT SUPP.1
7053
SUPP. 2
6797
PIVOT
7327
Dhaniya short term
trend is down, further
more downside is
expected in comimg
days.
RESISTAN
CE
RES. 1
7583
RES. 2
7857
CASTORSEED
FEB 4620 4646 4605 4627 0.04 18420
INTRADAY
LEVELS
SUPPORT SUPP. 1
4606
SUPP. 2
4585
PIVOT
4626
Castorseed short term
trend is down, Prices
expected to go down in
coming days.RESISTAN
CE
RES. 1
4647
RES. 2
4667
TURMERIC
APR 9250 9296 9080 9130 -0.76 14865
INTRADAY
LEVELS
SUPPORT SUPP. 1
9041
SUPP. 2
8953
PIVOT
9169
Turmeric short term
trend is up and may
continue in coming
days.RESISTAN
CE
RES. 1
9257
RES. 2
9385
GUARGUM
FEB 10920 11100 10820 11070 2.98 6912
INTRADAY
LEVELS
SUPPORT SUPP. 1
10893
SUPP. 2
10717
PIVOT
10997
Guargum Short term
trend is Down,
Expecting price may go
Down in coming days.RESISTAN
CE
RES. 1
11173
RES. 2
11277
Most Active Contract
3
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
JEERA 20-01-2015 16300.00 180.00 1.12%
REFINED SOY OIL 20-01-2015 674.20 3.95 0.59%
COTTON SEED OIL CAKE
AKOLA
20-01-2015 1445.00 8.00 0.56%
SOYABEAN 20-01-2015 3390.00 17.00 0.50%
TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
CORIANDER 20-01-2015 10850.00 -257.00 -2.31%
RAPESEED-MUSTARD SEED 20-01-2015 4042.00 -33.00 -0.81%
TURMERIC 20-04-2015 9130.00 -70.00 -0.76%
CASTOR SEED NEW 20-01-2015 4739.00 -32.00 -0.67%
BARLEY 20-01-2015 1599.00 -5.00 -0.31%
GUR 20-01-2015 982.00 -3.00 -0.30%
NCDEX INDICES
Index Value
Pre.
Close
%
Change
CASTORSEED 4627 4625 0.04
CHANA 3457 3457 -
CORIANDER 7310 7521 -2.81
GUARGUM 11070 10750 2.98
JEERA 16495 16430 0.4
MUSTARD SEED 3478 3524 -1.31
SOYABEAN 3492 3461 0.90
TURMERIC 9130 9200 -0.76
Commodities In News
4
ECONOMIC NEWS
The Maharashtra government said it has issued notices to 160 sugar
cooperative factories that failed to pay the mandatory `fair
remunerative price' to sugarcane farmers. "We understand that sugar
prices have fallen around the world.But it is the responsibility of sugar
cooperative factories to pay the FRP as mandated by the Centre.If they
fail to do so, they can face action. We have issued notices to 160
factories, asking them to clear the farmers' dues in eight days.
The Modi government is set to reject the UPA's move to boost
buffer norms for foodgrains and settle for a lower increase in the
minimum stock maintained with Food Corporation of India to meet
the requirements of Food Security Act rollout besides meeting
exigencies to regulate prices in the domestic market. the cabinet
committee on economic affairs that is scheduled to meet on Friday is
expected to clear the plan for revised buffer norms for foodgrains. The
BJP government is looking to raise the buffer norms by up to 50%,
while UPA had proposed to step up the minimum stock requirement
by over 60%. Higher buffer norms would help the government meet
the commitment under the Food Security Act, which promises 5 kg of
grains per person every month at Rs 3 and Rs 2 per kg for rice and
wheat respectively. The scheme will cover two-third of the
population.But it also means higher burden on the government by way
of not just higher subsidy but for maintaining the additional stock of
grains. lowering the buffer stock norms from the UPA-propopsed level
will also have financial implications since FCI incurs expenditure of
Rs 25-32 crore as carrying cost to hold 1 lakh tonnes of wheat and rice
annually. The NDA is keen on better targeting of subsidies and has
signalled its intent through a decon trol of petrol and diesel prices and
is urging the well-off to give up subsidized cooking gas connections..
Castor seed recovered from lower levels due to strong meal export demand
along with receding supplies in local mandies. The NCDEX futures settled in
green today.As per the latest release from Solvent Extractors' Association of
India, the overall export of castor meal during December is reported at 0.48
lakh tons compared to 0.38 lakh tons in 2013 i.e. up 26 percent. The major
demand was seen in Middle East and South Korea.The prices were also
encouraged by limited supplies in local mandies. Traders mentioned that huge
premium in futures prices against spot prices have reduced the stockiest
selling in local mandies. The NCDEX Castor seed futures added 0.06 percent
today to close at Rs 4628 per quintal.
Sugar is witnessing some demand now as stocksts are buying the fresh
stocks amid festivals around the country. Mill prices have recovered from
their lowest levels in three years. However, supplies are equally good. The
domestic Sugar production is up 27.3% in the first three months of the 2014-
15 season that began in October to hit 74.61 lakh tonnes (lt) as on December
31, according to latest data released by the Indian Sugar Mills Association.
The strong gains in the output have been primarily attributed to mills in Uttar
Pradesh (UP) beginning cane crushing operations a week earlier than last
season.
Selling continued in coriander prices as prices declined by almost Rs 120
per quintal at Kota and other mandies due to favourable rainfall in major
coriander states Madhya Pradesh and Rajasthan. Traders are expecting further
selling in the near term.
Some weakness was seen in chana market due to heavy selling in tur in
local mandies. The arrivals in Delhi reported at 30 trucks today as compared
to 50 trucks average in the previous week. The prices are trading at Rs 3425-
3450 per quintal, down Rs 20 from the last day. However, traders are
expecting strong surge in chana prices in the next marketing season due to
limited supplies of old and new crop.
5
Fundamental Watch :Castor Seed
CASTOR SEED ARIVALS AT KEY SPOT
MARKET
National Market Update
Castor seed market continues to trade under pressure on sluggish seed
demand from actual users and FMC tight guidelines related to delivery and
margins.Market is well aware of the fact that some financially strong
institutions have cornered ample seed(around 6 lakh tonnes) and are trying to
drive futures market up with continued buyings in cash market. Pressure from
new crop may be felt from Feb End and seed price is expected to dip to Rs
4000 to RS4100 per qtl. during peak arrival season. However, in between the
time major stockists have potency to drag market up against the general
expectation.The extended time gave sellers more time to arrange for delivery
while the rising margin forced many speculators, who played with borrowed
money, to exit their positions. Commercial grade oil price traded firm at
89000 per tonne, almost Rs 1000 higher than previous week. Fob quote for
castor oil at Kandla was quoted at $1440 per tonne, lower by $25 per tonne.
Meal price unchanged at $135 per tonne during the week under review. Castor
meal quote bulk at kandla was registered at Rs 8100 per tonne, unchanged
from last week. Korea emerged as major castor meal buyer in the third week
of December contributing 19170 tonne out of 20831 tonne.Tiawan brought
1443 tonne during the week at an average price of $150 per tonne. Area under
castor seed was recorded at 10.35 lakh ha. on 10th Oct ,2014 against 9.84 lakh
ha covered in last year.
International oil buyers remain sidelined as prices are higher than
expectation. They are not in a hurry to buy oil at higher prices as they have
ample stock to meet their needs at least for two months from now. Castor meal
demand is likely to decrease further as prices are ruling higher. Only need
based buying is on the card. Bulk buying is expected in March –April, the
peak arrival season and likely lower price. FOB quote for oil In Kandla has
decreased considerably from $1470 to $1440 per tonne in last four weeks. And
may dip to $1420 to 25 per tonne.
CENTER 15-Jan-15 14-Jan-15 Change
SUMERPUR 160 160 UNCH
JODHPUR 160 80 +80
RAJKOT 420 CLOSED -
GONDAL 156 CLOSED -
PATAN 2625 CLOSED -
DEESA 2717 CLOSED -
KADI 2160 CLOSED -
Technical Outlook
6
SELL DHANIYA APR BELOW 7050 TGTS 7020,6970 SL 7100 BUY GUARGUM FEB ABOVE 11100 TGTS 11150,11250 SL 11010
SELL CASTORSEED FEB BELOW 4595 TGTS 4565,4515 SL 4645 BUY TMC APR ABOVE 9250 TGTS 9300,9400 SL 9160
Disclaimer
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responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most.
 Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and
up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility.
 The information given herein should be treated as only factor, while making investment decision. The report does not provide
individually tailor-made investment advice. Epic research recommends that investors independently evaluate particular investments
and strategies, and encourages investors to seek the advice of a financial adviser. Epic research shall not be responsible for any
transaction conducted based on the information given in this report, which is in violation of rules and regulations of NSE and BSE.
 The share price projections shown are not necessarily indicative of future price performance. The information herein, together with all
estimates and forecasts, can change without notice. Analyst or any person related to epic research might be holding positions in the
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Epic research daily agri report 16 jan 2015

  • 1. DAILYAGRI COMMODITY REPORT 16 January 2015 HNI & NRI Sales Contact Australia Mintara Road, Tarneit, Victoria. Post Code 3029 Phone.: +61 422 063855 HNI & NRI Sales Contact USA 2117 Arbor Vista Dr. Charlotte (NC) Cell: +1 704 249 2315 Toll Free Number 1-800-200-9454 All queries should be directed to Info@epicresearch.co 1 Epic Research India 411 Milinda Manor (Suites 409- 417) 2 RNT Marg. Opp Central Mall Indore (M.P.) Hotline: +91 731 664 2300 Alternate: +91 731 664 2320 Or give us a missed call at 026 5309 0639 Our Presence YOUR MINTVISORY Call us at +91-731-6642300
  • 2. Market Views 2 MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL DHANIYA APR 7362 7600 7070 7310 -2.81 20600 INTRADAY LEVELS SUPPORT SUPP.1 7053 SUPP. 2 6797 PIVOT 7327 Dhaniya short term trend is down, further more downside is expected in comimg days. RESISTAN CE RES. 1 7583 RES. 2 7857 CASTORSEED FEB 4620 4646 4605 4627 0.04 18420 INTRADAY LEVELS SUPPORT SUPP. 1 4606 SUPP. 2 4585 PIVOT 4626 Castorseed short term trend is down, Prices expected to go down in coming days.RESISTAN CE RES. 1 4647 RES. 2 4667 TURMERIC APR 9250 9296 9080 9130 -0.76 14865 INTRADAY LEVELS SUPPORT SUPP. 1 9041 SUPP. 2 8953 PIVOT 9169 Turmeric short term trend is up and may continue in coming days.RESISTAN CE RES. 1 9257 RES. 2 9385 GUARGUM FEB 10920 11100 10820 11070 2.98 6912 INTRADAY LEVELS SUPPORT SUPP. 1 10893 SUPP. 2 10717 PIVOT 10997 Guargum Short term trend is Down, Expecting price may go Down in coming days.RESISTAN CE RES. 1 11173 RES. 2 11277
  • 3. Most Active Contract 3 TOP GAINERS SYMBOL EXPIRY DATE CURRENT PRICE CHANGE CHANGE % JEERA 20-01-2015 16300.00 180.00 1.12% REFINED SOY OIL 20-01-2015 674.20 3.95 0.59% COTTON SEED OIL CAKE AKOLA 20-01-2015 1445.00 8.00 0.56% SOYABEAN 20-01-2015 3390.00 17.00 0.50% TOP LOSERS SYMBOL EXPIRY DATE CURRENT PRICE CHANGE CHANGE % CORIANDER 20-01-2015 10850.00 -257.00 -2.31% RAPESEED-MUSTARD SEED 20-01-2015 4042.00 -33.00 -0.81% TURMERIC 20-04-2015 9130.00 -70.00 -0.76% CASTOR SEED NEW 20-01-2015 4739.00 -32.00 -0.67% BARLEY 20-01-2015 1599.00 -5.00 -0.31% GUR 20-01-2015 982.00 -3.00 -0.30% NCDEX INDICES Index Value Pre. Close % Change CASTORSEED 4627 4625 0.04 CHANA 3457 3457 - CORIANDER 7310 7521 -2.81 GUARGUM 11070 10750 2.98 JEERA 16495 16430 0.4 MUSTARD SEED 3478 3524 -1.31 SOYABEAN 3492 3461 0.90 TURMERIC 9130 9200 -0.76
  • 4. Commodities In News 4 ECONOMIC NEWS The Maharashtra government said it has issued notices to 160 sugar cooperative factories that failed to pay the mandatory `fair remunerative price' to sugarcane farmers. "We understand that sugar prices have fallen around the world.But it is the responsibility of sugar cooperative factories to pay the FRP as mandated by the Centre.If they fail to do so, they can face action. We have issued notices to 160 factories, asking them to clear the farmers' dues in eight days. The Modi government is set to reject the UPA's move to boost buffer norms for foodgrains and settle for a lower increase in the minimum stock maintained with Food Corporation of India to meet the requirements of Food Security Act rollout besides meeting exigencies to regulate prices in the domestic market. the cabinet committee on economic affairs that is scheduled to meet on Friday is expected to clear the plan for revised buffer norms for foodgrains. The BJP government is looking to raise the buffer norms by up to 50%, while UPA had proposed to step up the minimum stock requirement by over 60%. Higher buffer norms would help the government meet the commitment under the Food Security Act, which promises 5 kg of grains per person every month at Rs 3 and Rs 2 per kg for rice and wheat respectively. The scheme will cover two-third of the population.But it also means higher burden on the government by way of not just higher subsidy but for maintaining the additional stock of grains. lowering the buffer stock norms from the UPA-propopsed level will also have financial implications since FCI incurs expenditure of Rs 25-32 crore as carrying cost to hold 1 lakh tonnes of wheat and rice annually. The NDA is keen on better targeting of subsidies and has signalled its intent through a decon trol of petrol and diesel prices and is urging the well-off to give up subsidized cooking gas connections.. Castor seed recovered from lower levels due to strong meal export demand along with receding supplies in local mandies. The NCDEX futures settled in green today.As per the latest release from Solvent Extractors' Association of India, the overall export of castor meal during December is reported at 0.48 lakh tons compared to 0.38 lakh tons in 2013 i.e. up 26 percent. The major demand was seen in Middle East and South Korea.The prices were also encouraged by limited supplies in local mandies. Traders mentioned that huge premium in futures prices against spot prices have reduced the stockiest selling in local mandies. The NCDEX Castor seed futures added 0.06 percent today to close at Rs 4628 per quintal. Sugar is witnessing some demand now as stocksts are buying the fresh stocks amid festivals around the country. Mill prices have recovered from their lowest levels in three years. However, supplies are equally good. The domestic Sugar production is up 27.3% in the first three months of the 2014- 15 season that began in October to hit 74.61 lakh tonnes (lt) as on December 31, according to latest data released by the Indian Sugar Mills Association. The strong gains in the output have been primarily attributed to mills in Uttar Pradesh (UP) beginning cane crushing operations a week earlier than last season. Selling continued in coriander prices as prices declined by almost Rs 120 per quintal at Kota and other mandies due to favourable rainfall in major coriander states Madhya Pradesh and Rajasthan. Traders are expecting further selling in the near term. Some weakness was seen in chana market due to heavy selling in tur in local mandies. The arrivals in Delhi reported at 30 trucks today as compared to 50 trucks average in the previous week. The prices are trading at Rs 3425- 3450 per quintal, down Rs 20 from the last day. However, traders are expecting strong surge in chana prices in the next marketing season due to limited supplies of old and new crop.
  • 5. 5 Fundamental Watch :Castor Seed CASTOR SEED ARIVALS AT KEY SPOT MARKET National Market Update Castor seed market continues to trade under pressure on sluggish seed demand from actual users and FMC tight guidelines related to delivery and margins.Market is well aware of the fact that some financially strong institutions have cornered ample seed(around 6 lakh tonnes) and are trying to drive futures market up with continued buyings in cash market. Pressure from new crop may be felt from Feb End and seed price is expected to dip to Rs 4000 to RS4100 per qtl. during peak arrival season. However, in between the time major stockists have potency to drag market up against the general expectation.The extended time gave sellers more time to arrange for delivery while the rising margin forced many speculators, who played with borrowed money, to exit their positions. Commercial grade oil price traded firm at 89000 per tonne, almost Rs 1000 higher than previous week. Fob quote for castor oil at Kandla was quoted at $1440 per tonne, lower by $25 per tonne. Meal price unchanged at $135 per tonne during the week under review. Castor meal quote bulk at kandla was registered at Rs 8100 per tonne, unchanged from last week. Korea emerged as major castor meal buyer in the third week of December contributing 19170 tonne out of 20831 tonne.Tiawan brought 1443 tonne during the week at an average price of $150 per tonne. Area under castor seed was recorded at 10.35 lakh ha. on 10th Oct ,2014 against 9.84 lakh ha covered in last year. International oil buyers remain sidelined as prices are higher than expectation. They are not in a hurry to buy oil at higher prices as they have ample stock to meet their needs at least for two months from now. Castor meal demand is likely to decrease further as prices are ruling higher. Only need based buying is on the card. Bulk buying is expected in March –April, the peak arrival season and likely lower price. FOB quote for oil In Kandla has decreased considerably from $1470 to $1440 per tonne in last four weeks. And may dip to $1420 to 25 per tonne. CENTER 15-Jan-15 14-Jan-15 Change SUMERPUR 160 160 UNCH JODHPUR 160 80 +80 RAJKOT 420 CLOSED - GONDAL 156 CLOSED - PATAN 2625 CLOSED - DEESA 2717 CLOSED - KADI 2160 CLOSED -
  • 6. Technical Outlook 6 SELL DHANIYA APR BELOW 7050 TGTS 7020,6970 SL 7100 BUY GUARGUM FEB ABOVE 11100 TGTS 11150,11250 SL 11010 SELL CASTORSEED FEB BELOW 4595 TGTS 4565,4515 SL 4645 BUY TMC APR ABOVE 9250 TGTS 9300,9400 SL 9160
  • 7. Disclaimer  The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most.  Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility.  The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailor-made investment advice. Epic research recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. Epic research shall not be responsible for any transaction conducted based on the information given in this report, which is in violation of rules and regulations of NSE and BSE.  The share price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice. Analyst or any person related to epic research might be holding positions in the stocks recommended. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation for which either the site or its owners or anyone can be held responsible for. Any surfing and reading of the information is the acceptance of this disclaimer. All Rights Reserved.  Investment in equity & bullion market has its own risks.  We, however, do not vouch for the accuracy or the completeness thereof. we are not responsible for any loss incurred whatsoever for any financial profits or loss which may arise from the recommendations above epic research does not purport to be an invitation or an offer to buy or sell any financial instrument. Our Clients (Paid Or Unpaid), Any third party or anyone else have no rights to forward or share our calls or SMS or Report or Any Information Provided by us to/with anyone which is received directly or indirectly by them. If found so then Serious Legal Actions can be taken.