This daily agri commodity report provides information on commodity prices, company contact details, market views and technical analysis. Key details include: - Turmeric and coriander prices were down slightly while guargum prices increased. Castorseed prices were stable. - Soybean and coriander futures fell due to higher supplies while turmeric rose on higher demand. - The budget aims to boost agriculture through higher credit, irrigation funding and crop insurance though more is needed for implementation.

1. DAILY AGRI COMMODITY REPORT
02 February 2017
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2. Market Views
2
MONT
H
OPEN HIGH LOW
CLOS
E
% CHG VOL
MONT
H
OPEN HIGH LOW
CLOS
E
% CHG VOL
TURMERIC
APR 6752 6880 6720 6840 1.21 2095
INTRADA
Y LEVELS
SUPPORT SUPP.1
6747
SUPP. 2
6653
PIVOT
6813
Turmeric short term
trend is bearish and May
continue in coming days.
RESISTA
NCE
RES. 1
6907
RES. 2
6973
CORIANDER
APR 7500 7525 7460 7460 -0.41 1750
INTRADAY
LEVELS
SUPPORT SUPP.1
7430
SUPP. 2
7417
PIVOT
7482
Coriander short term
trend is bearish and May
continue in coming days.
RESISTA
NCE
RES. 1
7503
RES. 2
7547
GUARGUM 5MT
FEB 6260 6440 6252 6400 2.27 7335
INTRADAY
LEVELS
SUPPORT SUPP. 1
6288
SUPP. 2
6176
PIVOT
6364
Guargum short term
trend is bearish and May
continue in coming days.
RESISTA
NCE
RES. 1
6476
RES. 2
6552
CASTORSEED
FEB 4014 4014 4000 4000 0.35 21
INTRADAY
LEVELS
SUPPORT SUPP. 1
3995
SUPP. 2
3991
PIVOT
4005
Castorseed short term
trend is bearish and May
continue in coming days.
RESISTA
NCE
RES. 1
4009
RES. 2
4019

3. Most Active Contract
3
NCDEX INDICES
Index Value
Pre.
Close
%
Change
Castorseed 3978 3985 -0.18
Chana - - -
Coriander 7460 7491 -0.41
Guargum5MT 6400 6258 2.27
Jeera 17900 17900 0.00
Mustard seed 3861 3834 0.70
Soybean 3039 3036 0.1
Turmeric 6840 6758 1.21
TOP GAINERS
Symbol Expiry Date Current Price Change Change %
GUAR SEED 10 MT 20-02-2017 3334.00 72.00 2.21%
TURMERIC 20-04-2017 6840.00 72.00 1.06%
COTTON SEED OIL CAKE
AKOLA
20-02-2017 2247.00 14.00 0.63%
RAPESEED-MUSTARD
SEED
20-04-2017 3861.00 22.00 0.57%
TOP LOSERS
Symbol Expiry Date Current Price Change Change %
WHEAT 20-02-2017 1860.00 -8.00 -0.43%
CORIANDER 20-04-2017 7460.00 -20.00 -0.27%
REF SOYA OIL 20-02-2017 698.00 -0.85 -0.12%

4. Commodities In News
4
ECONOMIC NEWS
 Agri-industry and farm experts today hailed the Budget for 2017-18
saying that though not a "big game changer" but will give a fillip to the
farm and allied sector even as they urged for better implementation of
schemes. Edible oil industry body SEA, however, expressed
disappointment that the government did not change import duty on edible
oils, while others expected more fund allocation to encourage farm
mechanisation, food processing and steps to curb food and fertiliser
subsidies. "It is not very dramatic (budget) that it can be a big game
changer, but it is a reasonably good and additional investment in
agriculture, which is a healthy sign," said Ashok Gulati, agri-economist and
former chairman of Commission for Agricultural Costs & Prices (CACP).
"I am happy to see that the government is focusing on water. The separate
funds to focus on irrigation show commitment to water. Now, the question
is delivery. NABARD, state governments and Ministry of Water Resources
should ensure that funds does not disappear like water," he said.
 The Central government has taken up several measures to revive
country's agriculture economy in the Union Budget 2017-18 such as higher
agricultural credit, higher allocation for irrigation projects, crop insurance
scheme, agricultural experts said. "Several measures initiated by the
government to revive the agricultural economy such as higher agricultural
credit, higher allocation for irrigation projects, crop insurance scheme and,
MGNREGA scheme, besides expansion in coverage of eNAM, will help
fertilisers companies in the medium term through higher demand," rating
agency ICRA's Group Head, Corporate Sector ratings K Ravichandran
said. Commenting on budget proposals announced for fertilizer sector,
Ravichandran said the subsidy provided for fertilizer sector is Rs 70,000
crore for 2017-18, similar to the level in 2016-17. However, ICRA believes
there could be a shortfall of around Rs 32,000 crore, which is largely the
carried forward amount from 2016-17. However, ICRA believes there
could be a shortfall of around Rs 32,000 crore, which is largely the carried
forward amount from 2016-17.
 Soybean futures extended weakness on NCDEX amid ample
supplies in the physical market as production during kharif is higher by
more than 57% this season compared to last year. Soyabean prices fell
further by tracking lower prices in international markets as record
Brazilian production and improving weather in Argentina boosted
world supply prospects. The contract for February delivery was trading
at Rs 3022.00, down by 0.46% or Rs 14.00 from its previous closing of
Rs 3036.00. The open interest of the contract stood at 131600 lots. The
contract for March delivery was trading at Rs 3076.00, down by 0.49%
or Rs 15.00 from its previous closing of Rs 3091.00. The open interest
of the contract stood at 96470 lots on NCDEX.
 Coriander futures showed mixed trend on NCDEX as April contract
edged higher on pickup in demand at the spot market, while May
contract edged lower on rising arrivals from major growing regions.
The contract for April delivery was trading at Rs 7500.00, up by 0.12%
or Rs 9.00 from its previous closing of Rs 7491.00. The open interest
of the contract stood at 14800 lots. The contract for May delivery was
trading at Rs 7550.00, down by 0.07% or Rs 5.00 from its previous
closing of Rs 7555.00. The open interest of the contract stood at 840
lots on NCDEX.
 Turmeric futures traded up on NCDEX on account of rising spot
demand from the stockists and up-country buyers. Further, arrivals of
medium and poor quality turmeric from the producing regions capped
some gains. The contract for April delivery was trading at Rs 6816, up
by 0.86% or Rs 58 from its previous closing of Rs 6758. The open
interest of the contract stood at 13430 lots. The contract for May
delivery was trading at Rs 6770, up by 0.83% or Rs 56 from its
previous closing of Rs 6714. The open interest of the contract stood at
1710 lots on NCDEX.

5. Technical Outlook
5
SELL CORIANDER APR BELOW 7415 TARGET 7300 7370 7320
SL ABOVE 7445
BUY TURMERIC 20APR ABOVE 6800 TARGET 6815 6845 6895
SL BELOW 6770
BUY GUARGUM5 FEB ABOVE 6360 TARGET 6375 6405 6455
SL BELOW 6330
SELL CASTORSEED FEB BELOW 3990 TARGET 3975 3945 3895
SL ABOVE 4020

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