daily agri report by epic research 25 aug 2014
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YOUR MINTVISORY Call us at +91-731-6642300
DAILY AGRI COMMODITY REPORT 25th AUGUST 2014
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DAILY WRAP UP
MONTH OPEN HIGH LOW CLOSE % CHG OI (in Lots) VOL
DHANIYA
SEP
12250
12305
12150
12185
-0.90
7080 5720
INTRADAY LEVELS
SUPPORT
SUPP. 1
12122
SUPP. 2
12058
PIVOT
12213
RESISTANCE RES. 1
12277
RES. 2
12368
Dhaniya short term trend is down, and furthermore
down is expected in coming days.
MONTH OPEN HIGH LOW CLOSE %
CHANGE OI (in lots)
VOL
CASTORSEED
SEP
4313
4313
4250
4272
-1.45
44750
30020
INTRADAY LEVELS
SUPPORT SUPP. 1
4244
SUPP. 2
4215 PIVOT
4278
RESISTANCE RES. 1
4307
RES. 2
4341
Castorseed Short term trend is down. Price expected to go
down in coming days
.
SOYABEAN
OCT. 3488 3488 3398 3414 0.12 73470 61110
INTRADAY LEVELS
SUPPORT SUPP. 1
3379
SUPP. 2
3343
PIVOT
3433
RESISTANCE RES. 1
3469
RES. 2
3523
Soyabean price is in down trend and may continue in
upcoming days.
GUARGUM
OCT. 17860 18000 17590 17600 -3.93 544 456
INTRADAY LEVELS
SUPPORT SUPP. 1
17460
SUPP. 2
17320
PIVOT
17730
RESISTANCE RES. 1
17870
RES. 2
18140
Guargum Short term trend is up, Expecting price may
go up in coming days.
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NCDEX INDICES
FUNDAMENTAL AND MANDI REPORT
Index Value Pre. Close % Change
CASTORSEED
4208
4266
-1.36
CHANA
2892
2935
-1.47
CORIANDER
11825
11945
-1.00
COTTON SEED OILCAKE
1799
1807
-0.44
JEERA
11190
11270
-.71
MUSTARD SEED
3496
3448
1.39
SOYBEAN
3414
3410
0.12
SUGAR M GRADE
3055
3038
0.56
TURMERIC
6598
6692
-1.4
TOP LOSERS
SYMBOL EXPIRY DATE CURRENT
PRICE CHANGE
CHANGE %
REFINED SOY OIL 19-09-2014 615.00 -10.40 -1.66%
CHANA 19-09-2014 2892.00 -43.00 -1.47%
TURMERIC 19-09-2014 6598.00 -94.00 -1.40%
CASTOR SEED NEW 19-09-2014 4208.00 -58.00 -1.36%
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT PRICE
CHANGE CHANG
E %
RAPESEED-MUSTARD SEED 19-09-2014 3488.00 40.00 1.16%
SUGAR M GRADE 19-09-2014 3053.00 15.00 0.49%
SOYABEAN 20-10-2014 3422.00 12.00 0.35%
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COMMODITIES IN NEWS SUGAR
Sugar prices were down by 0.33 per cent to Rs 3,040 per quintal in futures trade today as speculators reduced positions on subdued demand from bulk consumers in the spot market amid ample stock positions. At the Na-tional Commodity and Derivatives Exchange, sugar for delivery in Octo-ber fell by Rs 10, or 0.33 per cent, to Rs 3,040 per quintal with an open interest of 2,030 lots. The September contract shed Rs 2, or 0.07 per cent, to Rs 3,036 per
GUARGUM
Guar gum prices declined by Rs 470 to Rs 17,650 per quintal in futures trading today as speculators trimmed positions in tune with weak export and domestic spot demand. .Market men said participants offloaded positions amid weak cues from global markets. Besides, increased supply of guar seed from growing belts amid slackness in demand of guar gum at physical markets too weighed onprices, they added. At the National Commodity and Derivatives Ex-change counter, guar gum prices for October contract slipped by Rs 470, or 2.59 per cent, to Rs 17,650 per quintal,
REF. SOYA OIL
Refined soya oil prices declined 0.66 per cent to Rs 621.25 per 10 kg in fu-tures trading today as speculators reduced positions amid sluggish demand in the spot market. At the National Commodity and Derivatives Ex-change, refined soya oil for delivery in September fell by Rs 4.15, or 0.66 per cent, to Rs 621.25 per 10 kg with an open interest of 95,785 lots. The October contract shed Rs 2.20, or 0.38 per cent, to Rs 584.40 per 10 kg in 87,720 lots. Analysts said offloading of positions by speculators due to subdued demand in the spot market against adequate stocks position mainly led to the fall in refined soya oil prices at futures trade.
ECONOMIC NEWS
Crop plantings have picked up further over the past week but remain lower than year-earlier levels, with monsoon rain deficits alarming wide in the northern bread-basket states. Average rainfall in this monsoon season that started in June was 19% below what is con-sidered normal based on a 50-year average. According to data from the India Meteorological Department, 21 out of the country's 36 subdivisions received normal rainfall this season. But in Haryana and Punjab, the states considered as India's bread basket, rains were 63% and 62% below normal, respectively. In West Uttar Pradesh, the deficit was 54%, while it was 59% in the Marathwada region and 53% in Telangana Strong rainfall in east and south India helped rice plantings expand to 33.52 million hectares from 33.38 million a year ago.
Officials however said sowing was slow in Maharash-tra, Assam and Andhra Pradesh. particularly in Guja-rat, Andhra Pradesh and Tamil Nadu, at 16.83 million hectares, Area under pulses - pigeon pea, urad bean and moong bean - has dropped, largely in Maharashtra, Karnataka and Rajasthan.
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FUNDAMENTAL AND MANDI REPORT
CASTORSEED National Market Report
No major change in sentiments has been witnessed in castor market on Friday. Cash market is likely to trade range bound in the weeks ahead as weak demand restricts upward momentum. Planters are offering Rs 795 per 20 kg. In Mehsana and are unwilling to offer higher price for castor seed at this point of time. Castor oil FOB quote is hovering in the range of $1440 to $1442 per tonne. As area coverage has improved considera-bly amid sluggish demand, any uptrend in the short term is unlikely. Area coverage till 14th August has been registered at 5.52 lakh ha.,
higher than last year (4.89 lakh ha.) till date. Normal area for whole kharif season is 10.37 lakh ha. Area under castor seed is likely to increase at least by 9 to 10 percent from 9.83 to 10.54 lakh ha. in 2014-15. How-ever, it would not impact price much in the third quarter.
International Update FoB quote for castor oil at Kandla has increased from $1430 to $1440 for export in last three days. Price has increased almost $10 per tonne today despite lower quotes for seed. Buyers like China,EU and Japan may enter in to the market in second half of August for bulk buying. Demand for castor meal continues from EU, USA and China. However, recent dip has slowed down fresh deal for the same. As buyers remain inactive FOB price is bound to stay steady in the third week of August. Export quote for meal increased slightly by $2 to $108 per tonne today. Price of castor oil in Rotterdam too has increased from $1705to $1725 per metric tonne during last one week. Buyers like EU, USA and China remain sidelined. No major export trade was reported on Thursday and buyers are waiting for a clear directional clue.
MARKET
20-Aug-14
19-Aug-14
MADHYA PRADESH
22000
20000
MAHARASTRA
3000
8000
STOCK POSITION AT NCDEX WAREHOUSES
CENTER
22-Aug-14
21-Aug-14
%Change
SUMERPUR
3525
3950
-25
JODHPUR
3800
3800
UNCH
RAJKOT
3800
3750
UNCH
PATAN
NR
4150
-
DEESA
NR
4200
-
GONDLAL 3755
3780
-25
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COMMODITY NAME LOCATION PRICE Bajra
Jaipur
1245
Barley Jaipur 1490
Castor Seed Disa 4252.25
Castor Seed 1 MT Disa 4252.25
Chana Bikaner 2850
Chana Delhi 2960
Chana Indore 2984.8
Chana 1 MT Delhi 2960
Chilli Guntur 7363.65
Chilli Teja Khammam 10275
Coriander Kota 11343.2
Cotton Kadi 18644.55
COMMODITY NAME LOCATION PRICE
Maize - Feed/Industrial Grade Davengere 1360
Maize - Feed/Industrial Grade Karimnagar
1372.5
Maize - Feed/Industrial Grade Sangli
1475
Maize - Feed/Industrial Grade Delhi 1240
Mustardseed Jaipur
3617.6
Mustardseed Alwar
3661.5
Pepper Kochi 72290
Polyvinyl Chloride Mumbai 75185.2
RBD Palm Olein Kakinada 529.75
RBD Palmolein Kandla 527.5
Ref Soya Oil Nagpur 652.8
Ref Soya Oil Indore 633.25
SPOT QUOTES
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RECOMMENDATIONS
SELL DHANIYA BELOW 11810 TGT 11780-11730 SL 11860 BUY DHANIYA ABOVE 11905 TGT 11935-11985 SL 11855
SELL GUARGUM (BELOW 17400 TGT 17350-17250 SL 17490 BUY GUARGUM ABOVE 17730 TGT 17780-17880 SL 17640
SELL CASTORSEED BELOW 4185 TGT 4155-4105SL 4235 BUY CASTORSEED ABOVE 4235 TGT 4265-4315 SL 4185
SELL SOYBEAN BELOW 3375 TGT 3345-3295 SL 3425 BUY SOYBEAN ABOVE 3450 TGT 3480-3530 SL 3400
DHANIYA (SEP.) GUARGUM (OCT.)
SOYABEAN (OCT.) CASTORSEED (SEP.)
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