This daily commodity report from Epic Research India provides market information and analysis on various agricultural commodities. It summarizes the key developments over the past day, including futures prices and intraday trading levels for turmeric, coriander, guar gum, and castorseed. It also discusses most active contracts, commodities in news related to the weather and crop production, technical trading recommendations, and a fundamental analysis of sugar prices.

1. DAILY AGRI COMMODITY REPORT
24 June 2015
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2. Market Views
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
TURMERIC
JULY 6950 7126 6880 6972 +0.11 13675
INTRADAY
LEVELS
SUPPORT SUPP. 1
6859
SUPP. 2
6747
PIVOT
6993
Turmeric short term
trend is down and May
continue in coming
days.RESISTAN
CE
RES. 1
7105
RES. 2
7239
CORIANDER
JULY 12050 12400 11917 12240 +1.67 22050
INTRADAY
LEVELS
SUPPORT SUPP.1
11971
SUPP. 2
11703
PIVOT
12185
Coriander short term
trend is up and May
continue in coming
days.RESISTAN
CE
RES. 1
12454
RES. 2
12669
GUARGUM
JULY 9620 9950 9450 9810 +1.87 15013
INTRADAY
LEVELS
SUPPORT SUPP. 1
9523
SUPP. 2
9237
PIVOT
9737
Guargum short term
trend is up and May
continue in coming
days.RESISTAN
CE
RES. 1
10023
RES. 2
10237
CASTORSEED
JULY 3969 4021 3957 3975 -0.45 104850
INTRADAY
LEVELS
SUPPORT SUPP. 1
3948
SUPP. 2
3920
PIVOT
3984
Castorseed short term
trend is down and May
continue in coming
days..RESISTAN
CE
RES. 1
4012
RES. 2
4048

3. Most Active Contract
3
NCDEX INDICES
Index Value
Pre.
Close
%
Change
CASTORSEED 3975 3993 -0.45
CHANA 4109 4190 -1.93
CORIANDER 12240 12039 +1.67
GUARGUM 9810 9610 +1.87
JEERA 15905 15810 +0.60
MUSTARD
SEED
4064 4032 +0.79
SOYABEAN 3479 3454 +0.72
TURMERIC 9672 6964 +0.11
TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
CHANA 20-07-2015 4109.00 -78.00 -1.86%
CASTOR SEED NEW 20-07-2015 3975.00 -11.00 -0.28%
COTTON SEED OIL CAKE
AKOLA
20-07-2015 1791.00 -2.00 -0.11%
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE CHANGE %
CORIANDER 20-07-2015 12240.00 155.00 1.28%
RAPESEED-MUSTARD
SEED
20-07-2015 4064.00 26.00 0.64%
SOYABEAN 20-08-2015 3479.00 20.00 0.58%
BARLEY 20-07-2015 1232.50 7.00 0.57%
REFINED SOY OIL 20-08-2015 581.20 1.20 0.21%
TURMERIC 20-07-2015 6972.00 12.00 0.17%
JEERA 20-07-2015 15905.00 5.00 0.03%

4. Commodities In News
4
ECONOMIC NEWS
Better-than-expected monsoon rains in the past two weeks have helped
farmers in several parts of India sow cotton, pulses and oilseeds on time,
but the country's weather office is still sticking to its forecast of a likely
drought.Although a delayed arrival of the monsoon had worried farmers,
more than two-thirds of the country has now received normal or above-
normal levels of rainfall so far this monsoon season, which starts on June
1.Overall, rainfall was 16 per cent above normal as of Monday, helping fill
up some reservoirs in a country where over half the farmland lacks
irrigation systems.Agriculture accounts for just about 15 per cent of India's
$2 trillion economy, but three-fifths of its 1.25 billion people depend on it
for their livelihood.Officials at the India Meteorological Department (IMD)
say the northern states will receive heavier monsoon rains this week but
that current weather patterns still point to total rains of just 88 per cent of
the long-term average, as predicted in early June, due to an El Nino
weather pattern.India received a similar level of rains last year but the
government did not declare a drought as the monsoon picked up in the
latter part of the season, underscoring its highly unpredictable nature,
which keeps farmers on edge.Skymet has rejected the IMD's prediction for
2015 and has forecast bountiful rains.The recent downpour has helped rice
farmers accelerate preparations for planting, which will lead to a greater
area of rice cultivation this year, said B V Krishna Rao, managing director
at Pattabhi Agro Foods, India's top non-basmati rice exporter.Soybean
cultivation has also been proceeding at full speed in key producing states
Maharashtra and Madhya Pradesh, which could drive up national output by
10 percent to over 10 million tonnes this year, said Pravin Lunkad,
president of industry body the Solvent Extractors' Association of
India.Reflecting the sowing progress, soybean, cotton and chickpea futures
inched down on Monday.Higher output of soybean and pulses is good
news for India, which spends billions of dollars importing the pulses and
edible oil widely used in the country's cooking.
Chana futures slumped right from the start amid these expectations and
traders alsoeyed good rains in states like Maharashtra and MP. Kharif
sowing is on track and tradersare cutting their longs in Chana. Spot
Chana dropped to Rs 4300 per quintal in Delhi yesterday– its lowest
levels in nearly two months for the commodity. The benchmark NCDEX
JulyChana futures also dropped amid this correction in spot. The futures
are trading at Rs4108 per quintal, down 2% on the day. The counter
neared Rs 4000 mark in early moves.The IMD noted in its latest weekly
update that conditions arefavourable for further advance of southwest
monsoon into remaining parts of north Arabiansea, Gujarat state,
Chhattisgarh, Jharkhand, entire Bihar, Uttarakhand, Himachal
Pradesh,Jammu & Kashmir, most parts of Madhya Pradesh and some
parts of Uttar Pradesh, Punjab,Haryana, Chandigarh & Delhi and
Rajasthan during next 3-4 days.
The NCDEX guar futures slumped on monday as traders are
anticipating a good harvest incase the rainfall continues its current trend.
The sowing has started well and futures arelikely to witness coninuted
selling pressure. However, steady moves were seen in the commodity
yestersay.
Jeera settled down as moderate rains in Gujarat and prospects of
Monsoon reaching soon kept sentiments weak. Low demand was noted
as traders waited for some more dips before initiating fresh demand in
the mandis. There is concern over production due to untimely rainfall in
March in Gujarat and Rajasthan. As per Government data, 2.41 lakh
hectare of cumin crop is damaged in Rajasthan. As per third advance
estimate of Gujarat State, production is expected at 1.58 lakh tonnes in
2014-15 which is 54.3 per cent lower compared to last years’ production
of 3.46 lakh tonnes.

5. 5
Fundamental Watch : Sugar
SUGAR PRICES AT KEY SPOT MARKETNational Market Update
The Karnataka govt. had put forthward a proposal to the centre asking for a
subsidy of Rs 900 crore which could be utilized for meeting up the pending
cane arrears by local sugar millers in the state.
India exported 57.5 thousand tons of sugar for the week ending 14th Jun,
2015 which was 52% higher than the sugar exported last week.
The Cabinet Committee on Economic Affairs (CCEA) announced interest
free loan worth Rs 6000 crore to the Indian sugar millers who had accrued
pending cane arrears to the local farmers in the country.
The Telengana govt. is expected to impose entry tax on sugar import as the
neighboring states such as Karnataka, Maharashtra and Tamil Nadu are
dumping their excessive sugar onto the state leading to a further fall in local
sugar prices.
Sugar prices traded steady to weak amid surplus sugar stock position
available in the market.
The Indonesian Sugar Association forecasted the country’s total sugar
(white) production in between 2.45-2.60 million tons for 2015-16 which was
last recorded at 2.58 million tons in 2014-15.
As per the UNICA report, Brazil’s Centre south region had churned around
40.1 MT of sugarcane in the second half of May, 2015 to produce 1.97 MT of
sugar during the same period. While, an y-o-y comparison shows that the
region had crushed 38 MT of sugarcane last year to produce 2.02 MT of sugar
in the corresponding period.
CENTER 23-June-15 22-June-15 Change
DELHI 2500 2480 20
MUMBAI 2592 2596 -4
VIJAYWADA 2720 2720 UNCH
NAGPUR NR 2550 -
CHENNAI 2275 2275 UNCH
AMBIKAPUR 3835 3835 UNCH
DHAMPUR 2445 2455 -10

6. Technical Outlook
6
BUY CORIANDER JULY ABOVE 12400 TARGET 12425 12465 SL
BELOW 12370
BUY GUARGUM JULY ABOVE 9950 TARGET 10000 10060 SL
BELOW 9890
SELL TURMERIC JULY BELOW 6925 TARGET 6885 6825 SL
ABOVE 6985
SELL CASTORSEED JULYBELOW 3950 TARGET 3925 3895 SL
ABOVE 3980

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