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Daily agri commodity report by epic research of 6 january 2017
1. DAILY AGRI COMMODITY REPORT
06 Janyary 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 6760 6764 6724 6750 -0.06 775
INTRADA
Y LEVELS
SUPPORT SUPP.1
6728
SUPP. 2
6706
PIVOT
6746
Turmeric short term
trend is bearish and May
continue in coming days.
RESISTA
NCE
RES. 1
6768
RES. 2
6786
CORIANDER
JAN 7240 7348 7216 7240 - 3130
INTRADAY
LEVELS
SUPPORT SUPP.1
7188
SUPP. 2
7136
PIVOT
7268
Coriander short term
trend is bearish and May
continue in coming days.
RESISTA
NCE
RES. 1
7320
RES. 2
7400
GUARGUM
JAN 6292 6380 6290 6371 1.55 3505
INTRADAY
LEVELS
SUPPORT SUPP. 1
6314
SUPP. 2
6257
PIVOT
6347
Guargum short term
trend is bearish and May
continue in coming days.
RESISTA
NCE
RES. 1
6404
RES. 2
6437
CASTORSEED
- - - - - - -
INTRADAY
LEVELS
SUPPORT SUPP. 1
-
SUPP. 2
-
PIVOT
-
-
RESISTA
NCE
RES. 1
-
RES. 2
-
3. Most Active Contract
3
NCDEX INDICES
Index Value
Pre.
Close
%
Change
Castorseed - - -
Chana - - -
Coriander 7240 7240 0.00
Guargum5MT 6371 6274 1.55
Jeera 18085 18025 0.33
Mustard seed 4265 4218 1.11
Soybean 3021 3018 0.1
Turmeric 6750 6754 -0.06
TOP GAINERS
Symbol Expiry Date Current Price Change Change %
COTTON SEED OIL CAKE
AKOLA
20-01-2017 2115.00 36.00 1.73%
29 MM COTTON 20-01-2017 19980.00 420.00 2.15%
RAPESEED-MUSTARD
SEED
20-01-2017 4265.00 52.00 1.23%
TOP LOSERS
Symbol Expiry Date Current Price Change Change %
CORIANDER 20-01-2017 7240.00 -9.00 -0.12%
REF SOYA OIL 20-01-2017 728.30 -3.20 -0.44%
SUGAR M GRADE 20-03-2017 3820.00 -4.00 -0.10%
MAIZE -
FEED/INDUSTRIAL
GRADE
20-01-2017 1415.00 -1.00 -0.07%
4. Commodities In News
4
ECONOMIC NEWS
Sugar prices are expected to remain firm in the near term despite
demonitisation due to the high domestic demand and tight stock position
triggered by the low production this sugar year (SY), views rating agency
ICRABSE -0.64 %. Sabyasachi Majumdar, Head, Corporate Ratings,
ICRA, said, “The expected decline in the sugar production during SY2017,
coupled with the decline in the domestic sugar stocks during SY2016 and
the impact of the global sugar deficit scenario has firmed up domestic sugar
prices to Rs 36,200/MT in October 2016, although there was a dip in
November following the demonetisation and the arrival of the new
crop." Further, Majumdar said, "The sugar prices dipped further to Rs
34,500-34,750/MT in the first week of December following subdued
demand from traders due to the cash crunch. However, with the demand
having recovered owing to the ongoing festive season, the prices have
improved slightly to Rs 35,000/MT currently.
The country is expected to produce about 345 lakh bales during 2016-17
as compared to around 338 lakh bales produced in 2015-16 crop year,
Cotton Association Of India (CAI) said here. "Due to the improvement in
productivity expected on account of better weather conditions across all
cotton growing regions of the country, the country expects to produce
about 345 lakh bales during 2016-17," former CAI President Dhiren Sheth
said at the association's annual general meeting (AGM) here. The
production of cotton in the country which had reached a record high of
over four crore bales during the 2013-14 crop year fell to about 386 lakh
bales in 2014-15, Sheth added. The production declined further during the
2015-16 crop year to around 338 lakh bales, the lowest during the last five
years. This drastic reduction in the crop during 2015-16 was mainly due to
the white-fly attack especially in the northern region, he added.
Productivity of cotton continues to remain well below the world average
productivity mark. However, looking at the initiatives taken by the Centre
and continued research by scientists, one can hope that India would soon
achieve the world average productivity mark, he said.
Coriander futures traded marginally higher on NCDEX as
participants created fresh positions amid pickup in demand in the
domestic spot market. Further, tight stock positions following restricted
arrivals from major growing regions also added support to coriander
prices’ uptrend. The contract for January delivery was trading at Rs
7242.00, up by 0.03% or Rs 2.00 from its previous closing of Rs
7240.00. The open interest of the contract stood at 9220 lots. The
contract for April delivery was trading at Rs 7841.00, up by 0.04% or
Rs 3.00 from its previous closing of Rs 7838.00. The open interest of
the contract stood at 8050 lots on NCDEX.
Soyabean futures trade higher on good demandJan 05,2017 12:04
Hrs ISTSoyabean futures traded higher on NCDEX on account of good
demand from the bulk buyers and oil millers. Soyabean prices
improved further by tracking international prices due to concerns about
planting delays in Argentina, the world's No.3 exporter of the oilseed.
However, higher production estimates by Soybean Processors
Association of India (SOPA) and expectations of higher arrivals from
the major producing belts, capped some gains. The contract for January
delivery was trading at Rs 3032.00, up by 0.46% or Rs 14.00 from its
previous closing of Rs 3018.00. The open interest of the contract stood
at 100050 lots. The contract for February delivery was trading at Rs
3081.00, up by 0.55% or Rs 17.00 from its previous close of Rs
3064.00. The open interest of the contract stood at 75960 lots on
NCDEX.
Jeera futures edged higher on NCDEX on account of increasing
demand from the stockists and traders at the spot market.Though, some
gains were capped on reports of higher acreage and good climatic
condition for a good harvest in the producing belts. The contract for
January delivery was trading at Rs 18115, up by 0.5% or Rs 90.00 from
its previous closing of Rs 18025. The open interest of the contract
stood at 3339 lots.
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