This daily commodity report provides information on price movements and trading levels for various agricultural commodities. It summarizes recent price changes for dhaniya, castorseed, turmeric and guargum. It also provides the most active futures contracts, economic news affecting commodities, and a technical outlook with trading recommendations. The report is from Epic Research, an Indian commodity research firm, and contains contact details for their domestic and international offices.

1. DAILY AGRI COMMODITY REPORT
08 January 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 8277 8418 8133 8292 +0.33 8610
INTRADAY
LEVELS
SUPPORT SUPP.1
8144
SUPP. 2
7996
PIVOT
8281
Dhaniya short term
trend is down, further
more downside is
expected in comimg
days.
RESISTAN
CE
RES. 1
8429
RES. 2
8566
CASTORSEED
FEB 4741 4787 4741 4779 +0.84 28980
INTRADAY
LEVELS
SUPPORT SUPP. 1
4751
SUPP. 2
4723
PIVOT
4769
Castorseed short term
trend is down, Prices
expected to go down in
coming days.RESISTAN
CE
RES. 1
4797
RES. 2
4815
TURMERIC
APR 9260 9450 9080 9152 -2.03 18875
INTRADAY
LEVELS
SUPPORT SUPP. 1
9005
SUPP. 2
8857
PIVOT
9227
Turmeric short term
trend is up and may
continue in coming
days.RESISTAN
CE
RES. 1
9375
RES. 2
9597
GUARGUM
FEB 11930 12140 11820 12070 +0.58 6781
INTRADAY
LEVELS
SUPPORT SUPP. 1
11880
SUPP. 2
11690
PIVOT
12010
Guargum Short term
trend is Down,
Expecting price may go
Down in coming days.RESISTAN
CE
RES. 1
12200
RES. 2
12330

3. Most Active Contract
3
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
REFINED SOY OIL 20-01-2015 664.40 9.95 1.52%
BARLEY 20-01-2015 1642.00 11.00 0.67%
CHANA 20-01-2015 3468.00 22.00 0.64%
GUR 20-01-2015 978.00 5.00 0.51%
CORIANDER 20-01-2015 11470.00 27.00 0.24%
COTTON SEED OIL CAKE
AKOLA
20-01-2015 1434.00 3.00 0.21%
TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
TURMERIC 20-04-2015 9164.00 -178.00 -1.91%
JEERA 20-01-2015 15025.00 -40.00 -0.27%
RAPESEED-MUSTARD SEED 20-01-2015 4066.00 -9.00 -0.22%
SOYABEAN 20-01-2015 3384.00 -2.00 -0.06%
NCDEX INDICES
Index Value
Pre.
Close
%
Change
CASTORSEED 4779 4739 +0.84
CHANA 3544 3487 +1.63
CORIANDER 8292 9265 +0.33
GUARGUM 12070 12000 +0.58
JEERA 15380 15355 +0.16
MUSTARD SEED 3549 3505 +1.26
SOYABEAN 3529 3512 +0.48
TURMERIC 9152 9342 -2.03

4. Commodities In News
4
ECONOMIC NEWS
The volume of rice procured by the government agencies in India in
the current marketing year is still lagging behind last year's
figures.The agencies have procured 15.14 million tons (MT) so far
compared with 16 MT in the year-ago period. The Food Corporation
of India (FCI) and state agencies undertake procurement of rice and
wheat to ensure that farmers get a Minimum Support Price (MSP).The
procurement of rice in state of Punjab has been 7.78 MT so far this
year compared to 8.10 MT in the year-ago period while in Haryana it
reached 1.99 MT as against 2.4 MT in the review period. Rice
purchase touched 1.24 MT in Telangana and 483,000 tons in Andhra
Pradesh so far this year, as compared with 1.49 MT of rice
procurement in undivided Andhra Pradesh in the same period last
year. Rice marketing year runs from October to September and the
annual procurement target for this year is 30 MT. Kharif rice
procurement was 26.6 MT last year as against the target of 32.06 MT.
India government purchase from farmers to meet emergencies and for
welfare programmes providing subsidised food to the poor.
Low cotton prices represent a long-term problem, the International
Cotton Advisory Committee said, even as it forecast the first drop in
world inventories in six years, spurred by the impact of weaker values.
The committee, an intergovernmental group, in its first estimates for
the 2015-16 season, which begins in August, forecast a drop in output
of 1.53m tonnes to 24.55m tonnes. That would represent a fourth
successive annual decline in production, to the lowest level in six
years and continue the drops expected for this season in southern
hemisphere countries, for which the June-July slump in cotton prices
came in time to deter plantings. In response to low world prices,
Brazil's 2014-15 production is forecast to fall by 10% to 1.5m tonnes,
the ICAC said. Meanwhile, low prices and a significant drought are
expected to reduce Australia's production by 47% to 470,000 tonnes.
Jeera futures surged as demand improved amid sluggish arrivals. The
NCDEX Jeera February delivery ended the day at Rs 15,380, up Rs 25 or
0.16%. Jeera stayed above Rs 15000 per quintal, consolidating around 15
month high amid steady demand. Prices soared in last few days on good
buying support following persistent worries over the acreage. The commodity
is quoting at Rs 15100, down Rs 30 per quintal on the day. The total daily
arrivals stand at just 7000 bags- witnessing a slack season lull. Overseas
demand remains steady and the weakness in INR is supporting sentiments.
Rajasthan crop is seen taking a hit to the tune of around 30% on poor
weather.Jeera recovered on good demand and weak arrivals. Jeera February
delivery closed the day at Rs 15,380, up Rs 25 or 0.16%. The open interest
added 429 tonnes to 12,051 tonnes, indicating fresh buying.
Turmeric dropped on the back of strong new supplies in local mandies along
with limited offtake by traders at higher levels. The NCDEX April futures
ended the day at Rs 9160, down Rs 182 or 1.95%. Good arrivals were noted in
Nizamabad today. 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 Rs 8000 per quintal mark in
Nizamabad. The commodity currently trades at Rs 8002 per quintal, almost
unchanged on the day.Turmeric futures eased from the high of Rs 9680 level
and eased on inflow of fresh crop arrivals. The NCDEX April futures ended
the day at Rs 9160, down Rs 190 or 2.03% and the open interest added 495
tonnes to 26,725 tonnes, indicating short selling.
Spot Chana market is trading steady though the arrivals have picked up pace
as traders' eye the start of the new season. The worries over rabi sowing are
keeping sentiments supported. Major losses have emerged in the area under
Gram or Chana. The area under sowing of Gram is at 79.65 lakh hectares this
year while the last year's figure was 95.03 lakh hectares- down 16%. Area
coverage under Total Pulses is at 129.99 lakh hectares while the last year's
sowing area coverage was 144.79 lakh hectares. In other pulses, some buying
is emerging in Masur on thin stocks. Spot rates for Chana are hovering around
Rs 3450 per quintal in Delhi. Arrivals soared to 50 trucks today.

5. 5
Fundamental Watch : Cotton
COTTON ARRIVALS AT KEY SPOT
MARKET
National & International Market Update
Cotton market noticed mixed tone on Wednesday.The International
Cotton Advisory Committee see the growth in cotton consumption this
season 2014-15, with a estimated surplus of 1.7 million tons in world
output of cotton. Ending stocks would stand around 21.3 million tonnes by
the end of current season, around 9% higher from the previous season.
Cotton output in India would remain stable at 6.8 million tonnes due to
unfavorable situation of monsoon. India could soon see the withdrawal of
subsidy from textile export as the it has breached the permissiblelimit liable
to get subsidy. As per the WTO’s Agreement on Subsidies and
Countervailing Measures, any developing country with the per capita
income below USD 1000, would be liable to get export subsidy benefits
only if the share of the country remain below 3.25% in that product
category. The same would be phased out from the benefits of export
subsidy, if the share rises above the limit for the two consecutive years,
making the product export competitive. India’s share since 2005 is
breaching up, which is likely to cause withdrawal of export subsidy. Cotton
industry in India noticed overall growth in 2014-15 and production is likely
to be around 40.2 million bales, said Cotton Association of India.
Cotton production in China stood 2.2% lower to 6.16 million tonnes in
2014 when compared to the previous year. The reason for this decline is the
falling acreage, which decreased around 3% on year on year basis. Deficit
in cotton output in China brings delight to the cotton exporting nations as it
increases the possibilities of larger cotton export demand from China, the
major consumer in the world. China’s decision to keep cotton import up to
the quota limit of 894,000 tonnes has kept the market under the bearish
pressure. Global prices are moving downtrend amid the expectation of
lesser imports by China, the top importer of cotton in the world. According
to USDA china is likely to import 1.52 million tonnes, around 50.5% lower
when compared to the 3.075 million tonnes of imports previous year.
CENTER 07-Jan-15 06-Jan-15 Change
AMRAVATI 8500 9400 -900
RAJKOT 5100 5400 -300
MAHESANA 30000 35000 -5000
PATAN 13370 15653 -2283
DEESA 3675 2700 975
BHIWANI 2000 3000 -1000
GONDAL 2053 2424 -371

6. Technical Outlook
6
SELL DHANIYA APR BELOW 8260 TGTS 8230,8180 SL 8310 BUY GUARGUM FEB ABOVE 12150 TGTS 12200,12300 SL 12060
BUY CASTORSEED FEB ABOVE 4790 TGTS 4820,4870 SL 4740 BUY TMC APR ABOVE 9300 TGTS 9350,9450 SL 9210

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