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DAILY AGRI COMMODITY REPORT

31 MAY 2017

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Market Views
MONT CLOS MONT CLOS
OPEN HIGH LOW % CHG VOL OPEN HIGH LOW % CHG VOL
H E H E

CORIANDER CASTORSEED

JUN 5005 5107 4927 4927 -3.99 18700 - - - - - - -

SUPPORT SUPP.1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2

4867 4807 - -

PIVOT Coriander short term PIVOT


INTRADAY INTRADAY
trend is bearish and may -
LEVELS LEVELS -
4987
continue in coming days.
RES. 1 RES. 2 RESISTA RES. 1 RES. 2
RESISTAN
CE NCE - -
5047 5167

TURMERIC GUARGUM 5MT

JUN 5300 5378 5250 5340 0.64 5050 JUN 7412 7496 7331 7407 0.72 7551

SUPPORT SUPP. 1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2

5267 5194 7326 7246

PIVOT Turmeric short term trend PIVOT Guargum Short term


INTRADAY INTRADAY
is bearish and may trend is bearish and may
LEVELS LEVELS 7411
5322
continue in coming days. continue in coming days.
RESISTAN RES. 1 RES. 2 RESISTAN RES. 1 RES. 2
CE 5395 5450 CE 7491 7576

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Most Active Contract
NCDEX INDICES
TOP GAINERS

Symbol Expiry Date Current Price Change Change % Pre. %


Index Value
Close Change

TURMERIC 20-06-2017 5340.00 20.00 0.38%


Castorseed 4324 4354 -0.69

JEERA 20-06-2017 17600.00 45.00 0.26% Chana - - -

GUAR SEED 10 MT 20-06-2017 3433.00 3.00 0.09% Coriander 4927 5132 -3.99

TOP LOSERS Guargum5MT 7407 7396 0.15


Symbol Expiry Date Current Price Change Change %

CORIANDER 20-06-2017 4927.00 -205.00 -3.99% Jeera 17600 17475 0.72

COTTON SEED OIL CAKE


20-06-2017 1800.00 -24.00 -1.32% Musterseed 3491 3514 -0.65
AKOLA

BARLEY 20-06-2017 1428.00 -14.00 -0.97% Soybean 2701 2699 0.07

RAPESEED-MUSTARD
20-06-2017 3491.00 -21.00 -0.60%
SEED Turmeric 5340 5306 0.64

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Commodities In News
ECONOMIC NEWS
Jeera futures traded higher on NCDEX, supported by increased The government is "actively considering" lowering interest rate on the Rs
buying by retailers and stockists at the spot market. Moreover, firming 1,000 crore loan given to state-run fertiliser firm FACT for its revival and
trend in futures market and lower stocks following restricted supplies in expansion of production capacity to one million tonnes this fiscal. Kochi-
the domestic market also added support to jeera prices uptrend. The based Fertilisers and Chemicals Travancore LtdBSE 3.96 % FACT), which
contract for June delivery was trading at Rs 17650, up by 1.00% or Rs is facing a liquidity crunch, currently produces about 6 lakh tonnes of NPK
175.00 from its previous closing of Rs 17475. The open interest of the fertilisers such as aluminium sulphate with an annual turnover of about Rs
contract stood at 8967 lots. The contract for July delivery was trading 2,000 crore. "FACT is asking for reduced interest rate on Rs 1,000 crore
at Rs 17750, up by 1.14% or Rs 200.00 from its previous closing of Rs loan that the Government of India has sanctioned. We are actively
17550. The open interest of the contract stood at 7752 lots on NCDEX. considering it," Union Chemicals and Fertilisers Minister Ananth Kumar
told PTI. As per the agreement, FACT has to repay the loan amount along
Turmeric futures traded lower on NCDEX on easing demand from with interest in five years, with a moratorium of one year. The loan is being
retailers and stockists at the spot market. Moreover, adequate stocks used for working capital requirement, clearing its pending dues and
position on increased arrivals from producing belts too fuelled the maximising capacity utilisation. Blaming the previous UPA government
downtrend. The contract for June delivery was trading at Rs 5294.00, for not providing timely help to the firm, Kumar said, "No funds or revival
down by 0.23% or Rs 12.00 from its previous closing of Rs 5306.00. package was given to FACT during the UPA despite six ministers
The open interest of the contract stood at 12935 lots. The contract for including A K Antony and Vayalar Ravi being from Kerala.
July delivery was trading at Rs 5364.00, down by 0.48% or Rs 26.00
from its previous closing of Rs 5390.00. The open interest of the An 11% increase in fair and remunerative price (FRP) for sugarcane is
contract stood at 5995 lots on NCDEX. likely to impact sugar millers margins, says rating agency ICRABSE 0.00
%. The Cabinet Committee on Economic Affairs (CCEA) has fixed the
Coriander futures edged down on NCDEX as speculators trimmed FRP at Rs 255 per quintal for sugar season (SY) 2017-18. The increase in
their positions, tracking easing demand in the spot market. Further, the FRP by Rs 25 per quintal for sugarcane, by the Central Government for
adequate stocks position on increased supplies from major producing the season SY2017-18, is likely to result in an increase in the cost of
regions also weighed on coriander futures. The contract for June production by around Rs 2,5002,700 per ton of sugar. Sabyasachi
delivery was trading at Rs 5025.00, down by 2.08% or Rs 107.00 from Majumdar, senior vice-president and group head, ICRA Ratings, said, At
its previous closing of Rs 5132.00. The open interest of the contract the current sugar realisations, the mills are likely to be able to absorb the
stood at 33830 lots. The contract for July delivery was trading at Rs higher costs, although the margins are likely to fall from the current levels.
5090.00, down by 2.38% or Rs 124.00 from its previous closing of Rs On the other hand, hike in FRP is likely to incentivise farmers to increase
5214.00. The open interest of the contract stood at 23090 lots on cane acreage and thus ensure better raw material security for the sugar year
NCDEX. SY2018-19 onwards.

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Technical Outlook

SELL CORIANDER APR BEOW 4900 TARGET 4870 4830 4780 BUY TURMERIC MAYBELOW 5350 TARGET 5580 5620 5670 SL
SL ABOVE 4950 BELOW 5300

SELL GUARGUM5 MAY ABOVE 7360 TARGET 7330 7290


7240 SL BELOW 7410

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Lovelesh Sharma
DN: cn=Lovelesh Sharma c=IN
o=Personal
Reason: I am the author of this
Sharma document
Location:
Date: 2017-05-30 21:42+05:30