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DAILY AGRI COMMODITY REPORT 12 February 2016 Our Presence HNI & NRI Sales Contact Australia Toll Free Number 1-800-200-9454 All queries should be directed to Info@epicresearch.co Epic Research India 411 Milinda Manor (Suites 409- 417) 2 RNT Marg. Opp Central Mall Indore (M.P.) Hotline: +91 731 664 2300 Alternate: +91 731 664 2320 Or give us a missed call at 026 5309 0639 Mintara Road, Tarneit, Victoria. Post Code 3029 Phone.: +61 422 063855 HNI & NRI Sales Contact USA 2117 Arbor Vista Dr. Charlotte (NC) Cell: +1 704 249 2315 1 YOUR MINTVISORY YOUR MINTVISORY Call us at +91 Call us at +91- -7 731 31- -6642300 6642300
Market Views MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL CORIANDER CASTORSEED APR 6946 6946 6640 6680 -0.95 9260 - - - - - - - SUPPORT SUPP.1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2 6565 6449 - - Coriander short term trend is bearish and May continue in coming days. PIVOT PIVOT INTRADAY LEVELS INTRADAY LEVELS - 6755 - RES. 1 RES. 1 RES. 2 RES. 2 RESISTAN CE RESISTAN CE 7061 - 6871 - TURMERIC GUARGUM APR 8996 9156 8840 8848 -0.65 16240 MAR 5560 5730 5500 5710 +2.51 21992 SUPPORT SUPP. 1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2 8740 8632 5563 5417 Turmeric short term trend is bearish and May continue in coming days. Guargum short term trend is bullish and May continue in coming days. PIVOT PIVOT INTRADAY LEVELS INTRADAY LEVELS 8948 5647 RES. 1 RES. 1 RES. 2 RES. 2 RESISTAN CE RESISTAN CE 9264 9056 5793 5877 2
Most Active Contract NCDEX INDICES TOP LOSERS Pre. Close % CURRENT PRICE CHANGE % Index Value SYMBOL EXPIRY DATE CHANGE Change CORIANDER 20-04-2016 6680.00 -80.00 -1.18% CASTORSEED - - - TURMERIC 20-04-2016 8848.00 -30.00 -0.34% CHANA +1.92 4344 4262 TOP GAINERS CORIANDER -0.95 6680 6744 CURRENT PRICE SYMBOL EXPIRY DATE CHANGE CHANGE % GUARGUM +2.93 5630 5470 SOYABEAN 19-02-2016 3786.00 80.00 2.16% JEERA +1.87 14705 14435 JEERA 18-03-2016 14705.00 280.00 1.94% CHANA 20-04-2016 4344.00 79.00 1.85% MUSTARD SEED +0.82 3920 3888 RAPESEED-MUSTARD SEED 20-04-2016 3920.00 43.00 1.11% SOYABEAN +1.99 3786 3712 BARLEY 20-04-2016 1407.50 10.00 0.72% COTTON SEED OIL CAKE AKOLA TURMERIC -0.65 8848 8906 19-02-2016 2037.00 12.00 0.59% 3
Commodities In News ECONOMIC NEWS Soyabean settled down driven by subdued demand for soybean crushing as feed industry planning to import meals. Besides, recently released data by the industry body Solvent Extractors' Association (SEA), showed export of soya meal has touched a record low at 69,263 tonnes in the first ten months of 2015-16, down 87 % from 5.49 tonnes in the same period last year, also weighing on prices. Further, crop prospects are improving for soybeans in South America after weekend rains eased concerns about dryness in Argentina, too added pressure on soyabean prices.The United States department of agriculture (USDA) maintained 2015-16 United States soybean production forecast for February month while hiked its forecast for ending stockpiles, the department said in its World Agriculture Supply and Demand Estimates report. The USDA maintained US, the world's biggest bean grower, 2015-16 production estimates to 107 million tons in February unchanged from the previous month and 106.9 million tons a year ago. India has received deficit rainfall for nine consecutive months, the driest phase since 2009, but now as harvesting approaches, winter rainfall may extend up to April, which is again bad news for farmers."Models are showing March-April rains to be above normal. It is going to be wetter," said Laxman Singh Rathore, director general, India Meteorological Department.He said it was early to say anything about the quantity and spread of the rains and whether to attribute it entirely to El Nino phenomenon.Rathore said other factors from southeasterly winds bringing moisture from the Bay of Bengal where anti cyclones would form and the convection in atmosphere where land warms up thereby heating the air leading to rains could spell rains as late as April.Some meteorologists at the weather office said the spread of winter rains usually happened in an El Nino year. "It is usually observed that in El Nino year such as 2015 or 2009, the winter season extended till April. It might happen this year too," said a meteorologist, who did not wish to be named.Indu Sharma, a former director at the Indian Institute of Wheat and Barley Research in Karnal said that mild rains with low temperatures till the end of March did not pose a problem to the crop, but heavy rains will hit the standing ripe crop."Rains in March-April will be a huge blow to farmers. Last year, too, we lost a lot of crop due to waterlogging in fields," said Sharma.He said since January this year the weather has remained congenial for the wheat crop. The weather office has forecast gradual rise in day and night temperatures over central and west India by 2-3°C in the next two days.Between June and September 2015, the southwest monsoon rain deficit was 14%. This was followed by a 23% deficit of the northeast monsoon from October to December. From January 1 to February 3 of this year the deficit was 63%. "Even as the country received deficit rain in October-December, south India got good rains," said DS Pai, head of the long range forecast at the India Meteorological Department. Chana settled down by due to limited demand of millers in local mandies. The government has issued a tender for importing 5,000 tons of pulses to boost local supply and control the rise in prices. For curbing the rally in prices during 2016 the government has directed MMTC to import more pulses to improve supply in domestic market.According to the recent tender document, MMTC has invited global bids for import of 5,000 tons of pigeon peas of the latest crop from Myanmar, Malawi, Mozambique or any other origin. Also, this year in Burma the production of pulses is bumper due to which prices of pulses have dropped $50 per tons there. There is expectation that delay in new crop arrival which was supposed to start in to market will support downward pressure on the prices.On the other side, during this crop season chana acreage is also normal till now due to which normal production is expected in the country. Meanwhile, India's pulses import during first half of this fiscal rose 14.2% to 22.5mtn due to fall in domestic output caused by poor monsoon for the second successive years. 4
Fundamental Watch : Chana National Market Update CHANA PRICES AT KEY SPOT MARKET According to IBIS (provisional data), import of pulses in the week (01 Feb- 07 Feb) was around 119 Thousand tonnes at major ports in India, around 12% lower than previous week’s (25 Jan-31 Jan) import of 135 Thousand tonnes. Chana, Masoor, Pigeon Pea and Yellow Pea were imported lower this week whereas Green Pea, Urad, Cow Pea, Kidney Bean and Moong were imported higher as compared to last week. CENTER 11-Feb-15 10-Jan-15 Change AHMEDNAGAR 4400 4350 +50 Chana markets’ including futures recovered smartly in last few days despite new crop is round the corner. There is a gossip in market that stockiest are trying to drag market up so that they could sell their old stock at higher level and get fund for procurement from new crop. Actually, market, especially futures market has been on rise against all expectation. Generally before season stockiest intend to sell their stock at higher level and they have intentionally brought in futures to drag futures market up. When their old stocks are released, they would start selling in futures. ALWAR 4300 4400 -100 GWALIOR 4300 4300 UNCH JAIPUR 4625 4600 +25 Standing pea crop in Kanpur region of Uttar Pradesh is in dire need of rains as size of the grain is feared to be affected in absence of rains. Moisture stress would not allow pea under developing stage to develop fully. Lower rainfall has already affected area coverage under peas and if rains do not occur in this region this week, yield is feared to be lower than normal and reluctantly lower size of the crop. Early sowed crop is in grain filling stage while late sowed crop is in flowering stage. KANPUR 4775 4800 -25 NAGPUR 4100 4100 UNCH According to the Ministry of Agriculture, final area under Rabi pulses throughout the country stood at 139.08 Lakh hectares as on 28th January this year, around 3% lower compared to the area of 143.01 Lakh hectares sown during corresponding period last year. VIJAYWADA 4700 4600 +100 5
Technical Outlook BUY GUARGUM MAR ABOVE 5730 TARGET 5780 5850 SL BELOW 5670 SELL CORIANDER APR BELOW 6640 TARGET 6595 6445 SL ABOVE 6705 SELL TURMERIC APRIL BELOW 8800 TARGET 8756 8696 SL ABOVE 8860 6
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