Turmeric, coriander, and guargum futures prices closed slightly down, while support and resistance levels are provided. The short-term trends for these commodities are expected to remain bearish. Economic news includes Spices Board plans to introduce an online settlement mechanism for cardamom auctions. Trading recommendations are given to sell coriander and buy turmeric and guargum based on technical analysis.

1. 30-May-2018
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Agri Commodity Update

2. MONTH OPEN HIGH LOW CLOSE % CHG VOL
TURMERIC
JUN 7138 7210 7080 7142 0.81 2905
INTRADAY
LEVELS
SUPPORT SUPP.1
7078
SUPP. 2
7014
PIVOT
7144
Turmericshort term
trend is bearish and may
continue in coming days.
RESISTANCE
RES. 1
7208
RES. 2
7274
CORIANDER
JUN 4520 4600 4514 4529 -0.24 7380
INTRADAY
LEVELS
SUPPORT SUPP.1
4495
SUPP. 2
4461
PIVOT
4547
Coriander short term
trend is bearish and may
continue in coming days.
RESISTANCE
RES. 1
4581
RES. 2
4633
GUARGUM 5MT
JUN 8113 8150 7845 8109 -2.87 18850
INTRADAY
LEVELS
SUPPORT SUPP.1
7919
SUPP. 2
7729
PIVOT
8034
Guargum Short term
trend is bearish and may
continue in coming days.
RESISTANCE
RES. 1
8224
RES. 2
8339
CASTORSEED
- - - - - - -
INTRADAY
LEVELS
SUPPORT SUPP.1
-
SUPP.2
-
PIVOT
-
-
RESISTANC
E
RES. 1
-
RES. 2
-
Market Views
MONTH OPEN HIGH LOW CLOSE % CHG VOL
Agri Commodity Update

3. NCDEX INDICES
Index Value Pre. Close
%
Change
Castorseed 3958 3979 -0.53
Chana 3581 3611 -0.83
Coriander 4518 4529 -0.24
Guargum5MT 8880 8785 1.08
Jeera 16355 16380 -0.15
Musterseed 3937 3974 -0.93
Soybean 3624 3640 -0.44
Turmeric 7200 7142 0.81
TOP GAINERS
Symbol Expiry Date Current Price Change Change %
COTTON SEED OIL CAKE
AKOLA
20-06-2018 1356.50 41.50 3.16%
TURMERIC 20-06-2018 7190.00 68.00 0.95%
WHEAT 20-06-2018 1826.00 13.00 0.72%
MAIZE -
FEED/INDUSTRIAL
GRADE
20-06-2018 1200.00 5.00 0.42%
TOP LOSERS
Symbol Expiry Date Current Price Change Change %
GUAR GUM 5 MT 20-06-2018 7870.00 -245.00 -3.02%
GUAR SEED 10 MT 20-06-2018 3717.50 -82.50 -2.17%
RAPESEED-MUSTARD
SEED
20-06-2018 3938.00 -31.00 -0.78%
CASTOR SEED 20-06-2018 3950.00 -28.00 -0.70%
Most Active Contract
Agri Commodity Update

4. ECONOMIC NEWS
 Technically Cardamom market is under long liquidation as market has
witnessed drop in open interest by 4.33% to settled at 199 while prices down
7.9 rupees. Now MCX Cardamom is getting support at 897.8 and below same
could see a test of 888.9 level, And resistance is now likely to be seen at 922.8,
a move above could see prices testing 938.9. Cardamom on MCX settled down
by 0.86% at 906.7 on reports of bumper output on the back of favourable
weather amid poor stocks of quality goods. There has been raining in the
producing centres of Kerala and present weather is conducive to the coming
crop. Spice Board cut the number auctions due to falling arrivals at the auction
centres. Producing centres of Kerala are getting good rains and monsoon is also
expected to hit Kerala coast three days before schedule. India exported 4,180
ton cardamom valued at Rs 4.56 billion during April-December 2017, data
from Spices Board showed.
 Technically Jeera market is under short covering as market has witnessed
drop in open interest by 1.25% to settled at 4746. Now NCDEX Jeera is getting
support at 16105 and below same could see a test of 15825 level, And
resistance is now likely to be seen at 16540, a move above could see prices
testing 16695. Jeera on NCDEX settled up by 1.71% at 16380 tracking
firmness in spot demand amid fresh export buying. There reports of rains Syria
is and there may be production loss, which is positive of India. A trade body-
The Federation of Indian Spices Stakeholders (FISS) - projected India's 2017-
18 jeera output at 6.92 million bags up 19% on year on the back of higher
acreage and favourable weather. Last year, India produced 5.83 million bag
jeera. India exported 104,260 ton jeera during April-October 2017 up from
91,024 ton a year ago due to increased demand from China and Bangladesh.
Daily arrivals hovered around 30,000 bags (each of 55 kg), as against the
expectation of 50,000 bags considering the bumper crop.
 In a bid to further streamline e-auction of cardamom, Spices Board plans
to Introduce an online settlement mechanism that would tremendously help
all the stakeholders by ensuring timely payment to the growers of this spice
and providing all information about transactions online or through a mobile
app. For developing such an online settlement mechanism for cardamom
auction, the Board enlisted the services of a bank. A team from the bank
visited the e-auction centre at Spices Park, Puttady and analyzed the
parameters for formulation of such a mechanism. Consequently, the bank
presented an ‘escrow’ settlement model to the Board.
 Technically Mentha Oil market is under fresh selling as market has
witnessed gain in open interest by 6.68% to settled at 990 while prices
down 22.5 rupees. Now MCX Mentha Oil is getting support at 1098.9 and
below same could see a test of 1087 level, And resistance is now likely to
be seen at 1126.8, a move above could see prices testing 1142.8. Mentha
oil on MCX settled down by 1.99% at 1110.8 driven by anticipation of
bumper crop harvest and nearing of harvesting season. Besides, ample
stocks position on higher supplies from major producing belt of Chandausi
in Uttar Pradesh too fuelled the downtrend. Anticipation of bumper crop
harvest and nearing of harvesting season also weighing on prices.
 Technically Cotton market is under fresh buying as market has witnessed
gain in open interest by 2.86% to settled at 8025 while prices up 90 rupees.
Now MCX Cotton is getting support at 21400 and below same could see a
test of 21270 level, And resistance is now likely to be seen at 21630, a
move above could see prices testing 21730. Cotton on MCX settled up by
0.42% at 21530 tracking firm trend in international markets, higher exports
and expectation of lower acreage in the country in next season. Till last
week, India kharif cotton acreage is 782,000 ha vs 11.2 lakh ha yr ago.
Commodities In News
Agri Commodity Update

5. SELL CORIANDER MAY BELOW 4500 TARGET 4470/4430/4380 SL 4550 BUY TURMERIC MAY ABOVE 7220 TARGET 7250/7290/7340 SL 7170
BUY GUARGUM5 MAY ABOVE 7930 TARGET 7960/8000/8050 SL 7880
Technical Outlook
Agri Commodity Update

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