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Epic Research Weekly Agri Report 30th Nov – 4th Dec 2015
1. WEEKLY AGRI COMMODITY REPORT
30 NOVEMBER 2015
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2. Weekly Wrap Up
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
CORIANDER
DEC 10510 10650 10089 10312 +3.88 24280
INTRADAY
LEVELS
SUPPORT SUPP.1
10051
SUPP. 2
9789
PIVOT
10350
Coriander short term
trend is bullish and may
continue in coming
days.RESISTAN
CE
RES. 1
10612
RES. 2
10911
CASTORSEED
DEC 4162 4192 3735 3863 -5.11 466670
INTRADAY
LEVELS
SUPPORT SUPP. 1
3668
SUPP. 2
3473
PIVOT
3930
Castorseed short term
trend is bullish and
may continue in
coming days.RESISTAN
CE
RES. 1
4185
RES. 2
4387
TURMERIC
DEC 9782 9960 9282 9398 -2.65 56110
INTRADAY
LEVELS
SUPPORT SUPP. 1
9133
SUPP. 2
8869
PIVOT
9547
Turmeric short term
trend is bullish and may
continue in coming
days.RESISTAN
CE
RES. 1
9811
RES. 2
10225
GUARGUM
DEC 7120 7170 6580 6810 -4.22 42762
INTRADAY
LEVELS
SUPPORT SUPP. 1
6537
SUPP. 2
6263
PIVOT
6853
Guargum Short term
trend is bullish and
may continue in
coming days.RESISTAN
CE
RES. 1
7127
RES. 2
7443
4. Commodities In News
4
ECONOMIC NEWS
There is no cause of concern about less area sown to wheat so far this
rabi season as the pace of planting is expected to pick up in coming days,
Agriculture Minister Radha Mohan Singh said.Sowing of wheat, the main
rabi crop, starts in October and harvesting begins in April."The area sown
to wheat so far is lower than the year-ago period but there is no cause of
concern at present. Sowing operations will pick up soon in key growing
states like Punjab and Haryana," Singh said at an event to celebrate the
golden jubilee of Green Revolution.Wheat sowing normally continues till
December and there was no need to worry about less area been planted
during the start of the season as just 40 per cent of the total wheat area has
been covered so far, he said.Singh further said, "It is difficult to predict
weather conditions for three months down the line as we had unseasonal
rains and hailstorms last year that impacted wheat output."Farm scientists
said that wheat sowing has not yet picked up due to less soil moisture
following deficient monsoon rains. Also, the harvesting of kharif crops has
got delayed and farmers are in the process of preparing field by clearing
the residues of crops like rice.As per the Agriculture Ministry's data, area
sown to wheat was down by 36 per cent at 78.83 lakh hectares till last
week of the current 2015-16 rabi season, compared with 107.35 lakh
hectares in the year-ago period.Wheat output is estimated to have declined
to 88.94 million tonnes in the 2014-15 crop year (July-June) as against a
record 95.85 million tonnes achieved in the previous year.
With back to back drought years putting farmers under tremendous
stress, the Centre believes it's effort to bolster irrigation infrastructure and
disburse relief to farmers after extreme weather events are falling short
thanks to some states dragging their feet.Union agriculture ministry in its
periodic review of these schemes found many states not up to the mark
with minister Radha Mohan Singh asking them to pull up their socks while
emphasizing that central funds will not be a constraint as long as states do
their bit to improve the situation.Singh told a leading newspaper that he
reviewed many central schemes in presence of state agriculture secretaries
on Tuesday. "The Centre is extending all necessary helps to the states.
Soyabean settled up on higher demand for the bean in global export market
and on speculation of lower supply of the crop from Brazil. Prices of the
bean were supported United States Department of Agriculture reported
robust bean weekly export sales. As per USDA weekly export sales report,
Net sales for 2015-16 was around 1.7 million tons up by 39% from previous
week and 23% from 4-week average.Brazil's Soybean planting is 60%
complete against 63% a year ago and 71% on 5-year avg. U.S. oilseed
production for 2015/16 is projected at 116.1 million tons, up 0.7 million
from last month on increased soybean, cottonseed, and peanut production.
Similarly, US Soybean production is forecast at 3,935 million bushels, up 19
million due to a higher yield forecast. The 2015/16 U.S. season-average
soybean price is projected at $8.40 to $9.90 per bushel, unchanged from last
month. Soybean meal prices are also unchanged at $310 to $350 per short
ton.The 4th estimate released by the GOI indicated lower than the estimated
production for Indian soybean. Signs of a possible slowdown in purchases
by China, due to weak economic growth and deteriorating crush margins,
will be limiting the upside movement of soybean/soya oil in the medium
term.
Jeera settled up due to slow sowing progress at the major producing
regions of Gujarat and Rajasthan. Further, limited arrivals in the spot market
too fuelled the uptrend. Though, some gains were limited by decline in the
export demand. Slow progress of sowing at the major producing regions of
Gujarat and Rajasthan keeping prices higher in the spot market. Gujarat, the
top cumin producing state, has planted less cumin until now compared to last
year sowing progress. In Gujarat, jeera is planted in 46 per cent less area at
63,400 hectares compared to 1, 17,400 hectares last year same time.Geo-
political trouble in two major exporting countries – Syria and Turkey –
seems to have failed to spice up jeera exports from India due to higher
domestic price. According to govt data, exports for 2015-16 shows a decline
trend compared to last year until September.
5. 5
NEWS RECAP
COMMODITY HEADLINES
India on course to achieve 4% agriculture growth: Radha Mohan Singh.
Bihar government approves Rs 115 crore diesel subsidy for Rabi crops.
Unseasonal rains damaged rabi crops worth Rs 20,000 crore: CSE.
Green Revolution was not successful in rainfed areas: Govt.
Pace of wheat sowing to pick up in coming days: Government.
Farm distress: Centre wants states to properly implement its irrigation schemes.
Andhra Pradesh eyes completion of 8 minor irrigation projects in 2 years.
No govt can ensure support price sought by farmers: Nitin Gadkari.
Government may import more pulses to check prices.
Online national agriculture market may start with 200 mandis in February.
Sugar mills have contracted 104 crore litres of ethanol so far: ISMA.
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