This document provides a daily commodity report with information on commodity prices, trading volumes, technical analysis and market views for various agricultural commodities. It includes the previous day's closing prices and trading volumes for dhaniya, castorseed, turmeric and guargum futures on the NCDEX. It also lists the top gainers and losers, most active contracts and NCDEX indices. Additionally, it provides economic news on cotton and chana prices and production, as well as Jeera sowing areas. Fundamental information on sugar prices in various spot markets in India is also given. The document concludes with some technical trading recommendations and a disclaimer.

1. DAILY AGRI COMMODITY REPORT 09 December 2014
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2. Market Views
2
MONTH
OPEN
HIGH
LOW
CLOSE
% CHG
VOL
MONTH
OPEN
HIGH
LOW
CLOSE
% CHG
VOL
DHANIYA
JAN
13020
13290
13020
13281
+1.92
6820
INTRADAY LEVELS
SUPPORT
SUPP.1
13104
SUPP. 2
12927
PIVOT
13197
Dhaniya shortterm trend is down, further more downsideis expected in comimg days.
RESISTANCE
RES. 1
13374
RES. 2
13467
CASTORSEED
JAN
4558
4590
4485
4553
-
85400
INTRADAY LEVELS
SUPPORT
SUPP. 1
4496
SUPP. 2
4439
PIVOT
4543
Castorseed short term trend is down,Prices expected to go downin coming days.
RESISTANCE
RES. 1
4600
RES. 2
4647
TURMERIC
APR
7376
7478
7366
7440
+1.09
4030
INTRADAY LEVELS
SUPPORT
SUPP. 1
7374
SUPP. 2
7308
PIVOT
7426
Turmeric shortterm trend is down and may continue in coming days.
RESISTANCE
RES. 1
7492
RES. 2
7544
GUARGUM
JAN
13220
13220
12780
12830
-3.53
7142
INTRADAY LEVELS
SUPPORT
SUPP. 1
12640
SUPP. 2
12450
PIVOT
12970
Guargum Short term trend isdown, Expecting price may go downin coming days.
RESISTANCE
RES. 1
13160
RES. 2
13490

3. Most Active Contract
3
TOP GAINERS
SYMBOL
EXPIRY DATE
CURRENT PRICE
CHANGE
CHANGE %
RAPESEED-MUSTARD SEED
19-12-2014
4057.00
159.00
4.08%
CHANA
19-12-2014
3086.00
106.00
3.56%
JEERA
19-12-2014
12730.00
320.00
2.58%
REFINED SOY OIL
19-12-2014
581.60
11.50
2.02%
SOYABEAN
19-12-2014
3282.00
55.00
1.70%
COTTON SEED OIL CAKE AKOLA
19-12-2014
1364.00
10.00
0.74%
TURMERIC
19-12-2014
6408.00
28.00
0.44%
GUR
19-12-2014
944.00
4.00
0.43%
TOP LOSERS
SYMBOL
EXPIRY DATE
CURRENT PRICE
CHANGE
CHANGE %
BARLEY
19-12-2014
1647.00
-11.00
-0.66%
CORIANDER
19-12-2014
12785.00
-66.00
-0.51
NCDEX INDICES
Index
Value
Pre. Close
% Change
CASTORSEED
4553
4553
0
CHANA
3141
3044
3.22
CORIANDER
13281
13031
1.92
GUARGUM
12830
13300
-3.53
JEERA
12975
12610
2.89
MUSTARD SEED
4096
3939
3.99
SOYABEAN
3339
3294
1.37
TURMERIC
7440
7360
1.09

4. Commodities In News
4
ECONOMICNEWS
ThecottonpricecrashhasdealtwithaheavyblowtothefarmersinIndia.Thedesperatefarmersaresellingcottonatthrowawaypricesduetothelowerpriceregimeandpooryield.PricesarerulingaroundRs3,900asagainstRs4,900-Rs5,150lastyear.PromptedbythedistresssalesthemandisinNortIndiahavealreadyregisteredanarrivalofaround17lakhbalesthisseason.ThepricehaveplungedbelowMSPandtheModigovernmenthasaskedCottonCorporationofIndiaLimitedtobuycotton.BytheendofNovember,2014CCIhasprocuredapproximately11,58,000balesofcottonvaluingaround2700Croresformarketstablisationandtherebyalleviatingfarmers’distress.CCIhasinitiatedactionforprocurementofCottonfromthegrowersattheMinimumSupportPrice(MSP)in341centreslocatedin92Districtsin11CottongrowingStates.Ithaspurchased70,000balesofcottonatanMSPofRs3,950inPunjab,HaryanaandlowerRajasthan.PricesofCottonarebelowMSPintheStatesofAndhraPradesh,TelanganaandMaharashtra.DomesticCottonpricesdependonanumberoffactorsincludingpreviousbalance,currentsupply,currentaswellasfuturedemandforcottoninbothdomesticandinternationalmarkets.Atpresent, CottonpricesininternationalmarketsarerulinglowerthanthepricesthatprevailedduringthecorrespondingperiodlastyearprimarilyduetolowerdemandbyChinaandincreasedsupplyfromtheUSA.India'sexportprospectswerehurtbyChina’sdecisiontoplaceanimportquota.Indiaexportsnearly60percentofitscottontoChina,theworld’slargestimporter,whichhasastockpilenearly63millioncottonbales.CCIhadearlersaidthereisa19%dipinIndia'scottonsupplysofarinthenewseasonthatbeganonOctober1.
ChanafuturesweretradinguponMondaybuttheoveralltoneremainsbearishforthepulse.Higheravailabilityofimportedchickpeasandliquidationonhigherlevelsarenegativefactorfortheprices.Chanajanuarycontractgained3.22%to3141levelsonMondayatIndia'sNationalCommodity&DerivativesExchangeLimited(NCDEX).DryweatherisexpectedtocontinueovermajorgrowingbeltsofcentralandNorthwestIndiaandsouthcentralIndia.Sowingareaunderchanahasreached63.85lakhhectareasonNov29whichis-15.75%lowerasagainstlastyear.TheacreageunderRabipulseshasreached32.08lakhhectarewhichis2.59%higherthanpreviousyear. Chickpea/ChanaproductionhasbeenreviseddowninAustraliato435thousandtonnesinthelatestproductionestimatesbytheAustralianAgriculturalDepartmentreleasedonDecember02,2014.Theproductionshallbe-31.17%loweryearonyearwhileestimatehasbeenreviseddownbyaround6%fromtheearliercropproductionestimateduringSeptember2014.
JeerafuturesresumedupmovementonMondayleadbystrongbuyingsupportamidweaksowingcues.TheNCDEXJeerabenchmarkJanuarydeliveryendedthelastdayatRs12,975,upRs365or2.89%. Aspermarketsources,poorrealizationfromJeeracropinthecurrentyearcoupledwithdelayinkharifharvestinginmajorproducingareaswillreduceJeerasowinginthecurrentyear.Thetotalsowingareaislikelytodeclineby20-25percentinthecurrentyearascultivatorsareplanningtoshifttowardsotherlucrativecrop.Moreover,recedingsuppliesofJeerainmajormandieswillalsoprovidesomesupporttofuturesprices.Thetotaldailyarrivals7-8thousandbagshavebeenreportedinmajormandies,down4thousandbagsfromthelastweek'saveragedailyarrivals.Jeerarosemorethan3.4%intheintradaytradingtothesessionhighofRs13040perquintal.ThecounterclosedthedayatRs12,975,upRs365or2.89%andtheopeninterestadded477tonnesto7,518tonnes,indicatingfreshbuying.

5. 5
FundamentalWatch : Sugar
SUGAR PRICES AT KEY SPOT MARKETS National & International Market Update
SugarpricesremainedunchangedwithalittlevolatilityseeninDelhiandMumbaimarketforGrade-MandS.TendersareinvitedbyANDHRAPRADESHSTATECIVILSUPPLIESCORPORATIONLIMITED(APSCSC)forsupplyofISSGradeS-30/S-31canesugarunderPDSforthemonthofJanuary2015throughe-procurement.Openingdatefortenderhasbeenfixedat06thDec,2014.Indiaproduced17.81lakhtonsofsugartill3rdNov,2014whichwas56%higherthanthequantityproducedduringthesameperiodlastyear.Similarly,thecountryalsosawanupsurgeinthenumberofcrushingunitsfrom262(in2013)to287(in2014)forthesameduration.31sugarmillsinKarnatakachurnedaround3.36lakhtonsofsugarthisyear(ason30thNov,2014)comparedto3.28lakhtonsofsugarayearback.CrushinghadalsostartedrecentlyinstateslikeGujaratwhichhadproducedaround1.6lakhtonsofsugartill30thNov,2014.CanecrushingstartedinU.Pandthestatehadchurnedaround196.86lakhquintalofsugarcanetoproduce16.91lakhquintalofsugartill02ndDec,2014.Notonlythis,thecanerecoveryrateinU.Phadalsoimprovedfrom7.48%in2013to8.59%in2014.SugarproductioninMaharashtrafor2014-15((till02ndDec,2014)standsoutat11.2lakhtonswhichis115%morethantheproductionmadelastyearduringsametime. Notably,thestatecrushed119.1lakhtonsofsugarcanethisseason((till02ndDec,2014)withanaveragerecoveryrateof9.4%.
IndianindicativerawsugarCIFpricesfromBrazilquotedat$483.07perton(including25%importduty)andIndiandomesticrefinedsugarFOBpricesquotedat$438.82pertonKolhapurbased.OnInternationalfront, BrazilsugarFOBpricesquotedat$400/Ton.Indiansugarexportdeclinedby50%from1.73lakhtonsinNov,2013to0.87lakhtonsthisyearinNov, 2014.Thiswasprimarilybecausethedomesticproducerherestoppedproducingrawsugaramidloominguncertaintyovergovt.exportsubsidy.
CENTER
08-Dec-14
06-Dec-14
Change
DELHI
2950
2990
-40
DHAMPUR
2950
2950
UNCH
MUMBAI
2996
3050
-54
KOLHAPUR
2675
2675
UNCH
VIIJAYWADA
3250
3250
UNCH
NAGPUR
3000
3000
UNCH
KOLKATA
NA
NA
-

6. Technical Outlook
6
BUY DHANIYA JAN ABOVE 13300 TGTS 13330,13380 SL 13250
SELL GUARGUM JAN BELOW 12790 TGTS 12740,12640 SL 12880
SELL CASTORSEED JAN BELOW 4540 TGTS 4510,4460 SL 4590
SELL TMC APR BELOW 7430 TGTS 7380,7280 SL 7520

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