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1. DAILYAGRI COMMODITY REPORT
24 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 6420 6600 6301 6514 +1.40 26590
INTRADAY
LEVELS
SUPPORT SUPP.1
6944
SUPP. 2
6473
PIVOT
6772
Dhaniya short term
trend is down, further
more downside is
expected in coming
days.
RESISTAN
CE
RES. 1
7243
RES. 2
7071
CASTORSEED
MAR 3736 3736 3614 3614 -3.99 59170
INTRADAY
LEVELS
SUPPORT SUPP. 1
3573
SUPP. 2
3533
PIVOT
3655
Castorseed short term
trend is down, Prices
expected to go down in
coming days.RESISTAN
CE
RES. 1
3695
RES. 2
3777
TURMERIC
APR 9060 9148 8802 8824 -2.90 22470
INTRADAY
LEVELS
SUPPORT SUPP. 1
8701
SUPP. 2
8578
PIVOT
8925
Turmeric short term
trend is up and may
continue in coming
days.RESISTAN
CE
RES. 1
9047
RES. 2
9271
GUARGUM
MAR 8720 8500 8850 8500 -3.95 6795
INTRADAY
LEVELS
SUPPORT SUPP. 1
8427
SUPP. 2
8353
PIVOT
8573
Guargum Short term
trend is Down,
Expecting price may go
Down in coming days.RESISTAN
CE
RES. 1
8647
RES. 2
8793

3. Most Active Contract
3
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
JEERA 20-03-2015 15540.00 260.00 1.70%
V 797 KAPAS 27-02-2015 741.50 1.50 0.20%
TURMERIC 20-04-2015 8886.00 8.00 0.09%
TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
CASTOR SEED NEW 20-03-2015 3614.00 -183.00 -4.82%
REFINED SOY OIL 20-04-2015 593.50 -12.70 -2.10%
BARLEY 20-04-2015 1145.00 -20.00 -1.72%
CHANA 20-04-2015 3631.00 -63.00 -1.71%
CORIANDER 20-04-2015 6512.00 -83.00 -1.26%
COTTON SEED OIL CAKE
AKOLA
20-03-2015 1498.00 -15.00 -0.99%
RAPESEED-MUSTARD
SEED
20-04-2015 3337.00 -16.00 -0.48%
SOYABEAN 20-04-2015 3381.00 -9.00 -0.27%
NCDEX INDICES
Index Value
Pre.
Close
%
Change
CASTORSEED 3614 3764 -3.99
CHANA 3624 3672 -1.31
CORIANDER 6514 6424 +1.4
GUARGUM 8500 8850 -3.95
JEERA 15600 15290 +2.03
MUSTARD SEED 3336 3375 -1.16
SOYABEAN 3385 3390 -0.15
TURMERIC 8824 9088 -2.9

4. Commodities In News
4
ECONOMIC NEWS
 Wheat prices are to remain under substantial pressure next season
so much so that the US is also factoring in a drop in its sowings of the
grain for the 2016 harvest. The US Department of Agriculture, in its
first full forecasts for the domestic wheat balance sheet in 2015-16,
forecast inventories of the grain building to end the season at a five-
year high of 763m bushels. While US sowings are expected to fall by
1.3m acres to 55.5m acres, as the USDA revealed on Thursday, a
lower incidence of drought will provoke higher productivity. Drought
remains a concern in the Great Plains but crop conditions have
improved significantly from this time last year, the USDA said, noting
that 45% of wheat in the top four hard red winter wheat states of
Kansas, Nebraska, Oklahoma, and Texas is rated in good or excellent
condition, compared with 32% a year ago.” Improved weather
conditions are expected to reduce abandonment and increase yields
this year.The USDA, expanding on a forecast of domestic wheat
prices averaging $5.10 a bushel in 2015-16, a six-year low, said that
wheat prices are expected to remain under substantial pressure from
large world supplies”.
 World cotton stocks will fall in 2015-16 for the first time in six
years, helped by a drop in Chinese production to a 12-year
low,although the decline will not be significant enough to revive
prices of the fibre. The US Department of Agriculture, in its first
forecasts for 2015-16, forecast world cotton output falling 5.4% to
133.0m bales, sapped by lower, or flat, harvests in all major producing
countries. US output will fall particularly far, by 2.1m bales to 14.1m
bales, a reflection of lower sowings, due mainly to relative prices and
net returns that favour alternative crops, the USDA said. Chinese
output will fall 2.0m bales to 28.0m bales, the lowest since 2003-04,
the top growing province, over producers in other areas. China, which
was the top cotton producer from 1981-82 before being overtaken by
India this season, will remain in second place, with Indian output seen
falling a more modest 500,000 bales to 30.0m bales.
 Jeera futures to remain supportive in the near term due to limited
production in the current years along with strong demand by stockiest
and traders at lower levels.The NCDEX futures to test 15410-15450
levels in the near term. As per the market sources, the current year crop
size is estimated 40 lakh bags, down 40% from last year crop. The
carry over stock levels projected at 20 lakh bags whereas annual
demand excluding export demand is projected at 45 lakh bags. The
estimated annual export demand will be in the range of 90,000-
1,20,000 tonnes for Indian cumin seed.The prices will also be
encouraged by limited arrivals in local mandies. The total daily arrivals
of around 4000-5000 bags have been reported in local mandies, down
almost 20-30 percent from the previous week due to restricted selling
by traders at lower levels.The NCDEX March futures settled flat with
nominal losses in the last week at Rs 15290 per quintal.
 Weakness continued in castor seed futures due to bumper production
in the current year along with weak export demand of castor oil in the
major mandies. The NCDEX futures declined by almost 4 percent
today.The market sources suggested that castor seed production is
likely to reach 13-14 lakh tonnes in the current year on the account of
strong production in Gujarat and Rajasthan. Moreover, around 2-3 lakh
bags of castor seed stocks were reported in major mandies. This has
encouraged the stockiest to liquidate their stocks at higher levels.The
prices were also hammered by limited export demand of castor oil in
major mandies. Traders stated that anticipation of strong production
have reduced the demand of Indian castor oil in both domestic and
international market. The total exports of castor oil during April to
December 2014 have been reduced by 5.20 percent from the last year
in the same period.The NCDEX March futures declined by 4 percent
today to close at Rs 3614 per quintal.

5. 5
Fundamental Watch :Castorseed
CASTORSEED ARRIVALS AT KEY SPOT
MARKET
National Market Update
 Overall steady to weak sentiments witnessed in major cash market of castor
on Monday except Patan and Halwad.Castor cash market continues to rule
under pressure and overall inner tone remains weak as arrivals are expected to
increase by the end of this month. In bench mark markets it is being traded in
the range of Rs 735 to Rs750 per 20kg.Major buyers /planters are not
aggressive buyers at this point of time.However, market may recover around
May and may follow the previous year trend as carryout would decrease.
Traders expects production of 1.75 crore bags this year that comes near 13
lakh tonne. However, major stake holders/stockists expect 11 lakh tonne crop
this year. Bulls operators/major stockists would try to buy more stock this year
at lower price so that they could drag market in their own favour in the second
half. Farmers too may hold stock if prices go below 725 per 20 kg. So any
major dip from this level is unlikely.Castor seed in Gujarat decreased by 1,250
per tonne in comparison to last week from Rs 39000 to Rs 37750 per tonne. It
is lower by Rs 3163 per tonne from the price realised on Feb, 2014. Castor
meal in bulk volume for export at Kandla is being quoted at $130 per tonne. It
is 34.02 percent higher than price realised on Feb-2014. Meal price is being
quoted at Rs 7400 per tonne at Kandla. FOB quote at Kandla decreased
considerably by $35 per tonne from $1310 per tonne to $1275 per tonne during
the week under review. Major players would go for restricted buying until
arrival gets its peak. We expect higher arrival from feb end/Mid March.
 Some fresh buying interest has been reported at $1275 per tonne for castor
oil at Kandla Port.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 $130 per tonne at kandla. Bulk
buying is expected in March –April, the peak arrival season and likely lower
price.
CENTER 23-Feb-15 21-Feb-15 Change
SUMERPUR 800 800 UNCH
JODHPUR NA 24 -
RAJKOT 300 250 +50
GONDAL 373 313 +60
PATAN 2000 7729 -5729
DEESA 1061 1600 -539
KADI CLOSED 2052 -

6. Technical Outlook
6
SELL DHANIYA APR BELOW 6470 TGTS 6440,6390 SL 6520 SELL GUARGUM MAR BELOW 8500 TGTS 8450,8350 SL 8590
SELL CASTORSEED MAR BELOW 3610 TGTS 3580,3530 SL 3660 SELL TMC APR BELOW 8780 TGTS 8730,8630 SL 8870

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