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DAILY AGRI COMMODITY REPORT

06 JULY 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

JUL 4778 4835 4711 4780 0.44 6520 - - - - - - -

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

4715 4651 - -

PIVOT Coriander short term PIVOT


INTRADAY INTRADAY
trend is bearish and may -
LEVELS LEVELS -
4775
continue in coming days.
RES. 1 RES. 2 RESISTA RES. 1 RES. 2
RESISTAN
CE NCE - -
4839 4899

TURMERIC GUARGUM 5MT

JUL 6376 6418 6328 6374 -0.53 4150 JUL 6650 6739 6640 6725 1.34 8020

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

6328 6283 6663 6602

PIVOT Turmeric short term trend PIVOT Guargum Short term


INTRADAY INTRADAY
is bearish and may trend is bearish and may
LEVELS LEVELS 6701
6373
continue in coming days. continue in coming days.
RESISTAN RES. 1 RES. 2 RESISTAN RES. 1 RES. 2
CE 6418 6463 CE 6701 6762

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Most Active Contract
NCDEX INDICES
TOP GAINERS

Symbol Expiry Date Current Price Change Change % Pre. %


Index Value
Close Change

SUGAR M GRADE 20-07-2017 3700.00 50.00 1.37%


Castorseed 4329 4317 0.28

CORIANDER 20-07-2017 4810.00 51.00 1.07%


Chana - - -

GUAR SEED 10 MT 20-07-2017 3216.00 33.00 1.04% Coriander 4780 4759 0.44

TOP LOSERS
Guargum5MT 6725 6636 1.34
Symbol Expiry Date Current Price Change Change %

SOY BEAN 20-07-2017 2942.00 -26.00 -0.88% Jeera 18440 18290 0.82

V 797 KAPAS 30-04-2018 859.50 -4.50 -0.52% Musterseed 3597 3593 0.11

TURMERIC 20-07-2017 6366.00 -30.00 -0.47% Soybean 2938 2958 -0.68

BARLEY 20-07-2017 1430.00 -5.00 -0.35% Turmeric 6374 6408 -0.53

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Commodities In News
ECONOMIC NEWS
Coriander futures edged higher on NCDEX as participants built up Indian farmers forced into giving up their land for industry face
fresh positions on the back of rising demand in the spot market. dwindling earnings and fewer job options, increasing the likelihood of
Besides, limited arrivals from major producing belts also added support more bloody conflicts as demand for scarce land rises, experts say.
to coriander prices uptrend. The contract for July delivery was trading Increased mechanisation is taking away some manual labour, while a lack
at Rs 4816.00, up by 1.2% or Rs 57.00 from its previous closing of Rs of training of farmers and farm workers for alternate jobs is leaving them
4759.00. The open interest of the contract stood at 18720 lots. The with few livelihood options. The Indian government's rural employment
contract for August delivery was trading at Rs 4901.00, up by 0.99% or programme and construction work to build ever-growing cities are
Rs 48.00 from its previous closing of Rs 4853.00. The open interest of inadequate to bridge the income gap, analysts say. "These are people who
the contract stood at 31840 lots on NCDEX. have known only this one job all their lives," said Bina Agarwal, a
professor of development economics in the University of
Jeera futures traded higher on NCDEX as the jeera arrival in June is Manchester. "These resource-poor, little educated people have few options
lower this year compared to May as well as June last year. Though, outside agriculture except casual work, which would leave them poorer.
some gains were capped on lower domestic as well as exports demand Moving to the cities to work does not reduce poverty -- it may even
at the spot market. The contract for July delivery was trading at Rs increase it," she said. Employment in Indian agriculture shrank by 26
18365.00, up by 0.41% or Rs 75.00 from its previous closing of Rs million jobs in the period 2011 to 2015, according to the McKinsey Global
18290.00. The open interest of the contract stood at 4905 lots. The Institute.
contract for August delivery was trading at Rs 18360.00, up by 0.38% Ahead of the visit of an Indian delegation to the EU to resolve the
or Rs 70.00 from its previous closing of Rs 18290.00. The open interest basmati rice issue, grain exporters body AIREA today said tough norms by
of the contract stood at 10353 lots on NCDEX. the European Commission will hit the exports badly as the trade worth over
Rs 1,700 crore could shift to Pakistan. The European Commission has
Soybean futures traded marginally higher on NCDEX as speculators recently brought down in basmati rice the maximum residue limit (MRL)
enlarged their positions on expectation of good physical buying due to level for Tricyclazole, a fungicide used by farmers against a disease, to
good rally in edible oils. Further, lower pace in physical arrivals and 0.01 mg per kg from the next year. This was done for all countries. "The
lagging sowing data also supported soybean prices. The contract for EU has virtually imposed ban on import of Indian basmati rice by reducing
July delivery was trading at Rs 2963.00, up by 0.17% or Rs 5.00 from 100-fold the import tolerance level of 'Tricyclazole'. It is not possible to
its previous closing of Rs 2958.00. The open interest of the contract bring down the pesticide level all of a sudden to nearly zero," AIREA
stood at 58160 lots. The contract for August delivery was trading at Rs President Vijay Sethia told reporters here. The Indian government team is
3030.00, up by 0.07% or Rs 2.00 from its previous closing of Rs scheduled to visit Brussels, Belgium, on July 12 to discuss the matter. Two
3028.00. The open interest of the contract stood at 62520 lots on aromatic basmati rice varieties -- PB1 and 1401 -- are maximum exported
NCDEX. to the EU. The shipments of these varieties with Tricyclazole MRL at 0.03
mg per kg were accepted so far from India. At least, two crop cycles are
required to effect the desired change.

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Technical Outlook

BUY CORIANDER APR ABOVE 4800 TARGET 4830 4870 4920 SELL TURMERIC MAY BELOW 6350 TARGET 6320 6280 6230
SL BELOW 4750 SL ABOVE 6400

BUY GUARGUM5 MAY ABOVE 6750 TARGET 6780 6820 6870


SL BELOW 6700

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