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1. DAILYAGRI COMMODITY REPORT
21 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 7492 7575 7310 7485 +0.29 16660
INTRADAY
LEVELS
SUPPORT SUPP.1
7338
SUPP. 2
7192
PIVOT
7457
Dhaniya short term
trend is down, further
more downside is
expected in comimg
days.
RESISTAN
CE
RES. 1
7603
RES. 2
7722
CASTORSEED
FEB 4351 4448 4300 4402 -0.02 76770
INTRADAY
LEVELS
SUPPORT SUPP. 1
4319
SUPP. 2
4235
PIVOT
4383
Castorseed short term
trend is down, Prices
expected to go down in
coming days.RESISTAN
CE
RES. 1
4467
RES. 2
4531
TURMERIC
APR 9116 9190 8902 8940 -1.93 14760
INTRADAY
LEVELS
SUPPORT SUPP. 1
8831
SUPP. 2
8723
PIVOT
9011
Turmeric short term
trend is up and may
continue in coming
days.RESISTAN
CE
RES. 1
9119
RES. 2
9299
GUARGUM
FEB 11000 11200 10870 11180 +1.08 5157
INTRADAY
LEVELS
SUPPORT SUPP. 1
10967
SUPP. 2
10753
PIVOT
11083
Guargum Short term
trend is Down,
Expecting price may go
Down in coming days.RESISTAN
CE
RES. 1
11297
RES. 2
11413
3. Most Active Contract
3
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
V 797 KAPAS 27-02-2015 738.00 12.50 1.72%
CORIANDER 20-04-2015 7540.00 77.00 1.03%
RAPESEED-MUSTARD SEED 20-04-2015 3493.00 24.00 0.69%
CHANA 20-02-2015 3431.00 21.00 0.62%
CASTOR SEED NEW 20-02-2015 4408.00 5.00 0.11%
TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
TURMERIC 20-04-2015 8970.00 -146.00 -1.60%
JEERA 20-02-2015 16650.00 -185.00 -1.10%
REFINED SOY OIL 20-02-2015 643.85 -3.30 -0.51%
BARLEY 20-04-2015 1254.00 -2.50 -0.20%
SOYABEAN 20-02-2015 3456.00 -4.00 -0.12
NCDEX INDICES
Index Value
Pre.
Close
%
Change
CASTORSEED 4402 4403 -0.02
CHANA 3413 3410 +0.09
CORIANDER 7485 7463 +0.29
GUARGUM 11180 11060 +1.08
JEERA 16790 16835 -0.27
MUSTARD SEED 3506 3469 +1.07
SOYABEAN 3455 3460 -0.14
TURMERIC 8940 9116 -1.93
4. Commodities In News
4
ECONOMIC NEWS
The Cotton Corporation of India's market intervention operation is
set for a record cotton buying from the open market this season and
nearly half its 10 million tonne of cotton buying target has already
been completed. The body so far has purchased 4.82 million bales
(170 kg each) from areas wherever prices have fallen below minimum
support price. This year's crop is estimated around 40 million bales.
Previous record was in 2008-09 when it registered the highest
procurement of 8.9 million bales. The continued arrivals in states like
Gujarat at a time when demand from exporters and from users is
virtually absent is forcing the CCI to procure more and hold it. Cotton
market is turning in glut as even yarn spinners are not buying cotton
and yarn export window has also shrunk.a prevailing glut of cotton in
the market is assumed to be reason for CCI's reluctance to release
cotton in the open market. there were reports that CCI itself it holding
more cotton and may start auctioning it but that is not likely anytime
soon. He apprised that 4.8 million bales of cotton have been procured
during this season (cotton season lasts from October to September)
and the arrivals are in full swing in the states of Maharashtra, Gujarat
and Andhra Pradesh."Even with the help of line of credit from banks
as was guaranteed by the central government the corporation has also
arranged warehouses for storing the same. "We have a plan to procure
approximately ten million bales and can store this much of stock
comfortably. Considering the volume of procurement in the last few
years this would be the highest procurement if we achieve the target.
So far, in the year 2008-09 registered the highest procurement of 8.9
million bales", The CCI till now has spent close to Rs 9,600 crore on
the procurement of cotton and Rs 1060 per quintal is average cost of
procurement. The corporation is conscious of releasing cotton as in a
depressed market it unlikely get a viable price for the cotton. CCI is
likely to consult union Ministry of Agriculture before taking decision
of off-loading cotton to the millers.
Jeera prices stabilized today after breaking above Rs 16000 per quintal
today on resurgence in buying as traders are eying major crop losses in key
producing states. Prices soared in last few days on good buying support
following persistent worries over the acreage. The commodity is trading at Rs
16390 per quintal, Rs 10 on the day. However, the arrivals surged as stockists
responded to soaring prices. The total daily arrivals hit 20000 bags- nearing
the normal seasonal trend even as the market is in a lull period for the
supplies. Rajasthan crop is seen taking a hit to the tune of around 30% on poor
weather. Gujarat crop is also seen taking major losses.
Some bargain buying is emerging in Chana after the recent drop. Arrivals
have dropped today and traders are eying the drop in acreage. Rising Tur
arrivals and steady inflow of old Chana stocks are keeping a check on the
sentiments and Delhi Chana prices dropped near Rs 3400 per quintal
yesterday - marking the lowest levels in nearly a month for the commodity.
However, prices edged up by Rs 30 to Rs 3424 per quintal today. Major losses
have emerged in the area under Gram or Chana. The area under sowing of
Gram is at 81.98 lakh hectares this year while the last year's figure was 98.16
lakh hectares. Area coverage under Total Pulses is at 133.41 lakh hectares
while the last year's sowing area coverage was 149.17 lakh hectares. These are
the lowest levels in nearly three weeks for the commodity. Arrivals came in at
25 trucks today after witnessing an inflow of 50 trucks yesterday.
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 Uttar
Pradesh (UP) beginning cane crushing operations a week earlier than last
season.
5. 5
Fundamental Watch :Castor Seed
CASTOR SEERD ARIVALS AT KEY SPOT
MARKET
National Market Update
Seed market continues to slip southward on bearish fundamentals and sellers
activeness in futures despite reports of crop loss in major growing regions of
Gujarat. As market has decreased considerably in last three-four days,
correction at this level is expected. Demand for seed from planters is expected
at this level and it may support market in the near term. Oil quote at Kandla
port stayed steady at $1440 per tonne. Some fresh deals for unspecified
quantity at $1430 has been reported this week.Major buyers are waiting for
stabilization in the market.Total stock of seed could be over 6.0 lakh tones at
this point of time. Market experts assume that this year total crushing up to
December has not been more than 9 lakh tones as export demand for oil was
seen lower than normal expectation. Despite various estimates of lower crop
size ranging from 11.5 to 12.5 lakh tonne, outlook remains bearish for seed in
the medium term. FOB quote In Kandla remained almost unchanged at $1440
per tonne during the week under review. It is likely to rule in the range of
$1430 to $1440 in the month of January. Major players would buy only need
based buying until arrival gets its peak. We expect peak up in arrivals from
Mid March. Meal price unchanged at $135 per tonne during the week under
review.
International oil buyers remain sidelined on bearish inner tonnne. Major
buyers may wait till April when arrivals attain its peak. Castor meal demand is
likely to decrease further as prices are ruling higher. It is being traded at $133
per tonne at kandla.Only need based buying is on the card. Bulk buying is
expected in March –April, the peak arrival season and likely lower price. FOB
quote for oil In Kandla has decreased considerably from $1440 to $1420 per
tonne in last one weeks and more dip is expected from this level too. Korea
emerged as major castor meal buyer in the third week of December
contributing 19170 tonne out of20831 tonne.
CENTER 20-Jan-15 19-Jan-15 Change
SUMERPUR 160 240 -80
JODHPUR NA NA -
RAJKOT 460 560 -100
GONDAL 266 311 -45
PATAN 1715 1434 281
DEESA 1484 2400 -916
MAHESANA 120 120 UNCH
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