This daily commodity report provides market views and analysis on turmeric, coriander, guargum, and castorseed futures prices. It also discusses most active contracts, top gainers and losers, and commodities in the news including economic news on expected crop production and monsoon rains, as well as fundamentals on chana prices and technical outlook on trades for coriander, guargum, and turmeric futures.

1. DAILY AGRI COMMODITY REPORT
19 May 2016
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2. Market Views
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
TURMERIC
JUNE 8160 8200 8130 8184 +0.84 5285
INTRADAY
LEVELS
SUPPORT SUPP. 1
8143
SUPP. 2
8101
PIVOT
8171
Turmeric short term
trend is bullish and
May continue in
coming days.RESISTAN
CE
RES. 1
8213
RES. 2
8241
CORIANDER
JUNE 7300 7300 7131 7180 -1.63 8920
INTRADAY
LEVELS
SUPPORT SUPP.1
7107
SUPP. 2
7034
PIVOT
7204
Coriander short term
trend is bearish and May
continue in coming
days.RESISTAN
CE
RES. 1
7276
RES. 2
7373
GUARGUM
JUNE 5010 5140 4960 5040 0.00 21499
INTRADAY
LEVELS
SUPPORT SUPP. 1
4953
SUPP. 2
4867
PIVOT
5047
Guargum short term
trend is bearish and
May continue in
coming days.RESISTAN
CE
RES. 1
5133
RES. 2
5227
CASTORSEED
- - - - - - -
INTRADAY
LEVELS
SUPPORT SUPP. 1
-
SUPP. 2
-
PIVOT
-
-
RESISTAN
CE
RES. 1
-
RES. 2
-

3. Most Active Contract
3
NCDEX INDICES
Index Value
Pre.
Close
%
Change
CASTORSEED - - -
CHANA 5949 5963 -0.23
CORIANDER 7144 7239 -1.31
GUARGUM 4990 4990 -
JEERA 16560 16250 +1.91
MUSTARD
SEED
7373 47387 -0.32
SOYABEAN 3826 3890 -1.65
TURMERIC 8550 8548 +0.02
TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
CORIANDER 20-05-2016 7144.00 -122.00 -1.68%
SOY BEAN 20-05-2016 3826.00 -54.00 -1.39%
CHANA 20-05-2016 5949.00 -27.00 -0.45%
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE CHANGE %
JEERA 20-05-2016 16560.00 260.00 1.60%
BARLEY 20-05-2016 1530.00 9.50 0.62%
TURMERIC 20-05-2016 8550.00 20.00 0.23%

4. Commodities In News
4
ECONOMIC NEWS
With above-normal monsoons expected to start by the first week of June,
farmers have started preparing for the cultivation of paddy, soyabean,
pulses, cotton, bajra, jowar, groundnut and maize , raising hopes of a
bigger harvest of grain this year.Although the country faced two successive
years of monsoon shortfall, India's food grain production increased
marginally to 252.23 million tonnes in the 2015-16 crop year from 251.12
million tonnes in 2014-15. Output was lower than in 2013, when food grain
production was 265.04 million tonnes.This year, cultivation of rice,
soyabean and pulses may increase, while the area under cotton may reduce
and sugarcane planting may remain unchanged, experts said. The weather
office forecast rainfall would be 6% above the longperiod average this
year, although the onset of the monsoon over Kerala could be delayed by a
week from the normal date of June 1.The total area of kharif crops sown as
of October 1 was 103.14 million hectares compared with 101.79 million
hectares in 2014 and 104.47 million hectares in 2013."The delay in
monsoon by a week should not make a difference as we are looking at a
normal monsoon. Planting should be at 2013 levels and even more," said
Trilochan Mohapatra, director general of the Indian Council of Agricultural
Research, the country's top agriculture research institute.He said if rains
were normal and evenly distributed, farmers would not miss the chance to
plant rice."Planting of rice can easily cover 43-44 million hectares," he
said. Farmers have started preparing land and raising nurseries, from where
plants will be transplanted to fields by the second week of June.The area
under soyabean, which is the second-largest cultivable crop followed by
cotton and pulses - tur/arhar and moong - may increase this year."A good
monsoon will ensure increase in productivity of soya by 5% over the
previous year. We see decent recovery of groundnut acreage in Gujarat,
where planting was less last year due to poor rains," said Davish Jain,
chairman of India's Soyabean Processors Association.
Soyabean on NCDEX settled down on profit booking after prices
gained on speculation that a late start to the monsoon might delay
sowing. USDA forecasts India soybean production for 2016/17 at
11.70 mt, up 58% from last year. The increase is based on the
assumption of normal yields. In 2015-16, SOPA forecast production at
69.29 lt but government in third estimate forecasts 89.2 lt.According to
the WASDE report, U.S soybean production for 2016/17 is projected at
103.4 mt, down 0.35 mt from the previous year on lower harvested area
and yields. US Soybean exports are forecast at 51.3 mt, up 3.95 mt
from the revised 2015/16 projection. However, global soybean
production in 2016/17 is forecast to rise to a record 324 mt. Chinese
soybean imports surged 33 percent higher in April from a year ago,
setting a monthly record, amid strong demand for soymeal and soyoil.
China imported 7.07 million tonnes of soybeans in April, up 15.9
percent compared to the previous month, preliminary figures issued by
the General Administration of Customs showed.
Ref Soya oil on NCDEX settled down tracking weakness in spot
demand amid weakness in other oilseed counters. India’s refined oils
imports surged alarmingly high during the first six months of the oil
marketing year – November to October – leaving the refining industry
nervous. Comparatively, lower landed cost of refined oils against that
of the crude oils pushed up refined oil imports by 168 per cent to 13.23
lakh tonnes (lt) during November 2015 to April 2016 period as against
4.92 lt in the same period previous year, data by Solvent Extractors’
Association of India (SEA) revealed.The overall import of vegetable
oils during the first six months of the current oil year 2015- 16,
increased by 17 per cent growth from 6,466,902 tonnes in the same
period last year to 7,557,169 tonnes now. India's edible oil import bill
is likely to rise by 15-20 per cent this oil year (November '15-October
'16), on a sharp increase in the price of crude palm oil (CPO) in global
markets and a widening supply deficit. Moreover, Import of soyoil
during Apr increased by over 86 per cent to 3.5 lt in April from 1.87 lt
in the year-ago period.

5. 5
Fundamental Watch : Chana
CHANA PRICES AT KEY SPOT MARKETNational Market Update
According to the third advance estimate, India Urad production has
increased to 1.88 MMT which is around 8% higher than the second advance
estimate. Second advance estimate was 1.74 MMT. At present Urad from
Burma in Chennai is coming at $1560 for FAQ and $1650 for SQ per tonne.
Future contract is being made at Rs 11200-11300 per tones for June shipment.
According to the local trader of Kanpur region of Uttar Pradesh, new moong
started hitting in the mandi. Moisture level is high and overall crop quality is
good. This moong is smaller crop and arrival may continue till 1 month. At
present, prices of moong in Kanpur mandi is hovering around Rs5800-6000
per quintal with arrival of 20-30 bags per day.
The WPI has rises from 346.6 in March 2016 to 360.4 in April 2016 for
pulses. There has been a considerable rise in WPI of Gram (282.4 for March
2016 and 301.8 for April 2016), Tur (274.1 for March 2016 and 383.8 for April
2016), Urad (495.6 for March 2016 and 505.5 for April 2016) and Moong
(390.5 for March 2016 and 398.4 for April 2016).
According to the Third advance estimate, Chana production has been
lowered down to 7.48 MMT which is around 7.5 lower than previous estimate.
Second production estimate of chana was of 8.09 MMT. Lower production is
due to lower rainfall in major producing states.
CENTER 17-May-15 16-May-15 Change
AHMEDNAGAR 5800 5600 +200
ALWAR 5900 5650 +250
GWALIOR 5900 5700 +200
JAIPUR 6050 5925 +125
KANPUR NA NA -
NAGPUR 6100 6000 +100
VIJAYWADA 5800 5500 +300

6. Technical Outlook
6
SELL CORIANDER JUN BELOW 7130 TARGET 7085 6985 SL
ABOVE 7195
SELL GUARGUM JUN BELOW 5050 TARGET 5000 4930 SL
ABOVE 5110
BUY TURMERIC JUN ABOVE 8200 TARGET 8244 8304 SL
BELOW 8140

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