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DAILY AGRI COMMODITY REPORT

29 June 2016

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Market Views
MONTH

OPEN

HIGH

LOW

CLOSE

% CHG

VOL

MONTH

OPEN

HIGH

CORIANDER

JULY

7301

7369

7255

SUPPORT

SUPP.1

SUPP. 2

7237

7189

7285

7303
RESISTAN
CE

RES. 1

RES. 2

7351

7417

-0.59

4720

Coriander short term


trend is bearish and May
continue in coming
days.

SUPPORT

SUPP. 1

SUPP. 2

8370

8420

8280

SUPPORT

SUPP. 1

SUPP. 2

8289

8215

8364

8355
RESISTAN
CE

RES. 1

RES. 2

8429

8495

% CHG

VOL

PIVOT

LEVELS

RESISTAN
CE

RES. 1

RES. 2

GUARGUM

PIVOT

INTRADAY
LEVELS

INTRADAY

TURMERIC

JULY

CLOSE

CASTORSEED

PIVOT

INTRADAY
LEVELS

LOW

+0.43

8220

Turmeric short term


trend is bearish and
May continue in
coming days.

JULY

5420

5650

5400

SUPPORT

SUPP. 1

SUPP. 2

5437

5293

5580

PIVOT

INTRADAY
LEVELS

5543
RESISTAN
CE

RES. 1

RES. 2

5687

5793

+1.82

18560

Guargum short term


trend is bearish and
May continue in
coming days.

Most Active Contract


NCDEX INDICES
TOP LOSERS

SYMBOL

SOY BEAN
WHEAT

EXPIRY DATE

20-07-2016
20-07-2016

CURRENT
PRICE

3791.00
1762.00

CHANGE

-22.00
-10.00

Index

Value

Pre.
Close

%
Change

CASTORSEED

CHANA

7626

7335

+3.97

CORIANDER

7285

7328

-0.59

GUARGUM

5580

5480

+1.82

JEERA

18380

18180

+1.10

MUSTARD
SEED

4773

4709

+1.36

SOYABEAN

3793

3796

-0.08

TURMERIC

8364

8328

+0.43

CHANGE
%

-0.58%
-0.56%

TOP GAINERS

SYMBOL

CHANA

GUAR GUM

EXPIRY DATE

20-07-2016

20-07-2016

CURRENT
PRICE

7626.00

5580.00

CHANGE

291.00

120.00

CHANGE
%

3.97%

2.20%

TURMERIC

20-07-2016

8364.00

36.00

0.43%

BARLEY

20-07-2016

1585.50

3.50

0.22%

Commodities In News
Cotton on MCX settled up on weak sowing prospects in domestic
markets. Large drop in sowing due to late and below normal rains are
pushing the prices of cotton. Cotton sowing for year 2016-17 has
lagged behind by against the last year due to delay in monsoon whereas
estimation of fall in cotton acreages could keep supply outlook weaker
in upcoming season too. About cotton sowing stood lower at 1.9
million hectare as against 3.48 million hectares a year ago. Larger
acreages of cotton are likely to shift to other cash crop especially pulses
due to better realization expectations.Moreover, in the kharif sowing
progress data released by Government pegged only 9.87 lakh hectares
in current season compared to 14.30 lakh hectares last year. Both the
Union government and the trade expect cotton acreage to shrink by
about 5-7 per cent over last years 118 lakh hectares (lh). Currently,
CCI is actively auctioning cotton bales from its reserves to keep the
supplies adequate. Cotton acreage is likely to drop by 20% in season
2016-17 in Punjab and Haryana compared to the last season as the
wary farmers opt for other Kharif crops after bearing heavy crop
damage due to whitefly pest attack in the last season.
Mustard Seed on NCDEX settled up on global supply worries.
Mustard seed were supported by supply worries after USDA in its
monthly report trimmed rape seed output of Canada, the world's biggest
seed producer, by 9.9% to 15.5 million tons on year. Rapeseed meal
exports from India slipped 91.21% to 3,090 tons in May compared to
35,188 tons a month ago, data released from Solvent Extractors
Association of India (SEA) showed. New arrivals were reported in the
range of 2-2.50 lakh bags.The latest survey report from SEA of India,
the total mustard seed crop for marketing year 2015-16 is estimated at
57.28 lakh tonnes against 50 lakh tonnes of the last year in the same
period. The total crop size of Rajasthan is estimated at 26.02 lakh
tonnes against 23.02 lakh tonnes of the previous year. Mustard seed
arrivals have entered a lean period, with daily arrivals of nearly
180,000 bags.

ECONOMIC NEWS
Union Agriculture and Farmers' Welfare Minister Radha Mohan Singh
asked the Indian Council for Agriculture Research (ICAR) to step up its
activities in the eastern region to bring the "second green revolution" in the
country.Addressing the steering committee meeting of the Second Green
Revolution (SGR) at ICAR Research Complex for Eastern Region, he said
ICAR should work out coordination and convergence of different
agricultural activities being implemented by the Centre to expedite
agricultural development in the region.Noting that the eastern region has
potential to increase production of milk, meat, pulses and oilseeds through
overall development of the agriculture and allied sectors, he said that the
states in this region were producing only 50 per cent rice, 45 per cent
vegetables and 38 per cent fish respectively of the total production of the
country.Singh also drew the attention of the agriculture scientists towards
adverse effect of the climate change on the agriculture production and
asked them to mitigate the problem by developing smart technologies for
plantation of short duration crops among other measures.There is also a
need to rehabilitate the waterlogged areas in the region which accounts for
41 lakh hectare through integrated farming system approach, he said.Singh
said state coordination, technical coordination and steering committees had
been formed to discuss policy, investment, convergence and related issues
for successful implementation of the second green revolution.Excessive
rains in tea producing areas of north Bengal and in certain parts of Assam
from the middle of June is likely to affect India's tea production which
stood at 1208.66 million kg in 2015. Incessant rains coupled with no
sunshine in the tea gardens has become a major concern for the tea
industry.May crop has already been affected in north India (Assam and
West Bengal) due to a dry spell in May. While in May 2015 tea estates in
north India had produced 95 million kg of tea, production in May 2016 is
expected to be around 90 million kg. South Indian production will also be
around 22 million kg from 26 million kg in May 2015.However, though
production is worrying the producers, prices of teas have not fallen at the
auctions.

Fundamental Watch : Cotton


National Market Update
The Cotton Association of India (CAI) has estimated Indias cotton output in
2015 -16 at 341.50 lakh bales (of 170 kg each), around 10.8 per cent lower
Thicompared to the previous years production of 383 lakh bales. The
projected balance sheet drawn by the CAI for 2015-16 pegs total supply at
429.10 lakh bales, while domestic consumption is seen at 305 lakh bales, thus
leaving an available surplus of 124.10 lakh bales.
Major importer of Indian cotton during the week (13 -19 June, 2016) was
Bangladesh. According to the data released by IBIS, Bangladesh imported
0.257 lakh bales of cotton from India in the past week (13 -19 June, 2016).
Other major importers were Vietnam, China, Indonesia and Pakistan and their
imported volumes were 0.052 lakh bales, 0.031 lakh bales, 0.013 lakh bales
and 0.013 lakh bales respectively.

Department of Agriculture, Ministry of Agriculture (MoA) in its second


advance estimates, has revised the cotton production estimates downwardly
for the season 2015-16 at 306.92 lakh bales (of 170 kg each). For the season
2014-15, the estimate was 346.23 lakh bales according to the first advance
estimates for the season.
The Foreign Agriculture Services (FAS), division of USDA has lowered the
production forecast for India in its latest report to 356 lakh bales. The reason
for the downfall in the revision is lower yield expectation in Punjab and
Haryana due to the attack of white fly and impact of pink bollworm in Gujarat.

COTTON PRICES AT KEY SPOT MARKET


CENTER

27-Jun-16

25-May-16

Change

RAJKOT

5870

5910

-40

BHIWANI

5700

5700

UNCH

ADAMPUR

5850

5825

+25

AHMEDABAD

5875

5750

+125

GONDAL

5895

5925

-30

GUNTUR

NA

NA

RAICHUR

6009

5220

+789

Technical Outlook

SELL CORIANDER JULY BELOW 7250 TARGET 7205 7105 SL


ABOVE 7315

SELL GUARGUM JULY BELOW 5570 TARGET 5520 5450 SL


ABOVE 5630

BUY TURMERIC JULY ABOVE 8400 TARGET 8444 8504 SL


BELOW 8340

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