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1. DAILYAGRI COMMODITY REPORT
05 Feb 2015
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2. Market Views
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
DHANIYA
APR 7600 7617 7380 7396 -1.74 21250
INTRADAY
LEVELS
SUPPORT SUPP.1
7312
SUPP. 2
7227
PIVOT
7464
Dhaniya short term
trend is down, further
more downside is
expected in comimg
days.
RESISTAN
CE
RES. 1
7549
RES. 2
7701
CASTORSEED
MAR 4186 4198 4030 4053 -3.43 36290
INTRADAY
LEVELS
SUPPORT SUPP. 1
3989
SUPP. 2
3926
PIVOT
4094
Castorseed short term
trend is down, Prices
expected to go down in
coming days.RESISTAN
CE
RES. 1
4157
RES. 2
4262
TURMERIC
APR 8188 8290 8004 8030 -1.74 13940
INTRADAY
LEVELS
SUPPORT SUPP. 1
7926
SUPP. 2
7822
PIVOT
8108
Turmeric short term
trend is down and may
continue in coming
days.RESISTAN
CE
RES. 1
8212
RES. 2
8394
GUARGUM
MAR 10520 10610 10090 10240 -2.29 5952
INTRADAY
LEVELS
SUPPORT SUPP. 1
10017
SUPP. 2
9793
PIVOT
10313
Guargum Short term
trend is Down,
Expecting price may go
Down in coming days.RESISTAN
CE
RES. 1
10537
RES. 2
10833
3. Most Active Contract
3
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
REFINED SOY OIL 20-02-2015 630.65 21.55 3.54%
TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
JEERA 20-02-2015 14365.00 -595.00 -3.98%
CASTOR SEED NEW 20-02-2015 3994.00 -143.00 -3.46%
CORIANDER 20-04-2015 7396.00 -131.00 -1.74%
TURMERIC 20-04-2015 8030.00 -142.00 -1.74%
REFINED SOY OIL 20-02-2015 625.95 -7.80 -1.23%
CHANA 20-02-2015 3450.00 -43.00 -1.23%
BARLEY 20-04-2015 1210.00 -9.00 -0.74%
RAPESEED-MUSTARD
SEED
20-04-2015 3314.00 -24.00 -0.72%
COTTON SEED OIL CAKE
AKOLA
20-02-2015 1450.00 -10.00 -0.68%
NCDEX INDICES
Index Value
Pre.
Close
%
Change
CASTORSEED 4053 4197 -3.43
CHANA 3450 3493 -1.23
CORIANDER 7396 7527 -1.74
GUARGUM 10240 10480 -2.29
JEERA 14365 14960 -3.98
MUSTARD SEED 3314 3338 -0.72
SOYABEAN 3449 3437 +0.35
TURMERIC 8030 8172 -1.74
4. Commodities In News
4
ECONOMIC NEWS
India's wheat exports are poised to fall this year as an increase in
supplies from Australia, Russia and Europe has pulled down global
prices and made shipments from India non-viable. This could put
pressure on the government as it would be forced to procure more of
the grain at the state-set price as India is expected to have another
bumper harvest. "French milling wheat is now the flavour of the
season," "The price of French wheat climbed down from $245 to $210
free-on-board (fob) with the depreciation of the euro." The weakening
euro and a stronger rupee have both enlarged the spread of disparity.
Even the US soft red winter wheat is quoted cheaper than Indian
variety, at around $232 fob. According to him, French 'feed' wheat is
available still cheaper, at $200 a tonne."This year, commitment for a
new crop for shipments from March till May has been nil. Compared
to it, in the previous year it was 2.5-3 lakh tonne,""The government
will end up buying again 30-32 million tonne of wheat in April-May
2015 unless there is some dramatic reversal in the market or the rupee
depreciates to 65-66 to a dollar, a possibility that appears to be remote.
The Cotton Corporation of India(CCI)'s market intervention
operations are in full swing with the procurement of Cotton crossing
the target. CCI's cotton procurement target was 60 lakh bales and it
expects to purchase over 75 lakh bales this year.CCI's cotton sale is
also going well as the prices are above market rates. US based
International Cotton Advisory Committee (ICAC) recently said area of
cotton cultivation in India may fall by 5% to 11.6 million hectares.In
2015/16, cotton is likely to be much less attractive to plant due to
falling cotton prices have fallen while prices for competing crops such
as maize and soy have recovered from price downturns last September
and October, Although the Indian government raised its minimum
support price in 2014/15, for many farmers the price was still too low
compared to production costs, and area in India is forecast down 5%
to 11.6 million hectares.
Sugar is witnessing some demand now as stocksts are buying the
fresh stocks amid festivals around the country. Mill prices have
recovered from their lowest levels in three years. However, supplies are
equally good. The domestic Sugar production is up 27.3% in the first
three months of the 2014-15 season that began in October to hit 74.61
lakh tonnes (lt) as on December 31, according to latest data released by
the Indian Sugar Mills Association. The strong gains in the output have
been primarily attributed to mills in UP beginning cane crushing
operations a week earlier than last season.
Poor offtake from upcountry traders are affecting Turmeric prices.
Good arrivals were noted in Nizamabad today as well and the prices
tumbled amid thin demand. The traders are expecting this momentum
to continue, keeping prices slightly on a bearish track. Prices have
already soared by around 30% in last three weeks, hitting highs above
Rs 8000 per quintal. The counter is trading at Rs 7541 per quintal mark
in Nizamabad today, almost unchanged on the day.
Chana down amid profit booking due to weak domestic demand in
spot market. Though, Farmers had cultivated chana on 8.2 million
hectares, compared with 9.87 million hectares a year earlier. India
2014-15 rabi gram sowing until Jan 30 fell by 15% to 8.39 million
hectares as compared to previous year. Pulses sowing fell by 10.2% to
13.86 million hectare as compared to last year due to lower rains and
late harvesting to kharif crops in Madhya Pradesh, Maharashtra and
Andhra Pradesh. Acreage of the crop harvested in 2015 is forecasted
13% lower at 8.19 million hectare as compared to 10.19 million hectare
in previous season.
Castorseed prices fell by 3.46 per cent on Wednesday at the NCDEX
as a result of fresh supply of the commodity in the major mandies as
well as strong production estimates. It touched the intra-day low of Rs.
4,115 till the trading. Castor oil, extracted from castor seed is the
largest vegetable oil exported out of India.
5. 5
Fundamental Watch :Castorseed
CASTORSEED ARRIVALS AT KEY SPOT
MARKET
National Market Update
Higher delivery in the month of January hints that planters have fulfilled its
immediate requirements and they are in no hurry to build up stock at this point
of time. Lower buying by planters and likely higher arrivals in the market
would pressurize cash market in the weeks ahead. In declining trend buyers
may opt for restricted buying. FMC, the market regulator's attempt to check
abnormal fluctuation and unexpected huge open interest with 100 percent
margin bore fruits to some extent. The highest delivery was registered in jan-
2015 on the NCDEX. Resultantly, delivery started from29th Dec instead of pre
set date from 11th Jan.It had levied 100 percent margin from December
26th,2014. Because of this action stock increased from205,000 tonne to
430,000 tonne in one month. Open interest too reduced from346,000 tonne to
36,000 tonne during this period. In Jan total delivery was recorded at 203000
tonne Castor Oil (First Grade) FOB Kandla (Export) quote decreased from
$1450 to $1395 per tonne in January. The net decline of $55 per tonne in a
month due to higher stock and increased availability of seed. Around $15 to
$20per tonne more dip is expected. Castor Oil commercial is being traded at
Rs 85,500 per tonne, almost Rs 3000 per tonne higher than the beginning of
January,2015.However, it is 0.49 percent lower than the price realized in Jan
2014. Castor meal ex Kandla is being traded at Rs 7700 per tonne,almost 4.49
percent lower than the price realized in December,2014.However is 21.22
percent higher than the price of Jan,2014.
Some fresh buying interest has been reported at $1390 per tonne for castor
oil at Kandla Port. Buyers are interested to buy at $1380/1390 per tonne.As
seed is under pressure dip in oil price seems to be on card. Castor meal
demand may improve as availability of meal around $125/128 seems possible
in the weeks ahead with higher seed availability for crushing. It is being traded
at $132 per tonne at kandla. Bulk buying is expected in March –April, the peak
arrival season and likely lower price.
CENTER 04-Feb-15 03-Feb-15 Change
SUMERPUR 1200 400 +800
JODHPUR 80 80 UNCH
RAJKOT 450 440 +10
GONDAL 294 470 -176
PATAN 1500 1550 -50
DEESA 582 CLOSED -
MAHESANA 240 NA -
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