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Weekly agri report by epic research 18 aug 2014
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WEEKLY COMMODITY REPORT
18th AUGUST 2014
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WEEKLY WRAP UP
MONTH OPEN HIGH LOW CLOSE % CHG
OI (in
Lots)
VOL
DHANIYA
SEP. 12150 12289 11551 11656 -4.91 85250 85250
INTRADAY
LEVELS
SUPPORT SUPP. 1
11375
SUPP. 2
11094
PIVOT
11832
RESISTANCE
RES. 1
12113
RES. 2
12570
WEEKLY TREND
Dhaniya short term trend is up ,
may continue in coming days
MONTH OPEN HIGH LOW CLOSE
%
CHANGE
OI (in
lots)
VOL
CASTORSEED
SEP. 4327 4368 4251 4308 -0.32 108160 428880
INTRADAY
LEVELS
SUPPORT
SUPP. 1
4250
SUPP. 2
4192
PIVOT
4309
RESISTANCE
RES. 1
4367
RES. 2
4426
WEEKLY TREND
Castorseed short term trend is up ,
may continue in coming days.
SOYABEAN
OCT. 3566 3678 3510 3510 1.40 65420 289750
INTRADAY
LEVELS
SUPPORT
SUPP. 1
3454
SUPP. 2
3398
PIVOT
3566
RESISTANCE
RES. 1
3622
RES. 2
3734
WEEKLY TREND
Soybean price is in down trend and
may continue in upcoming days
GUARGUM
OCT. 15100 16400 14920 15990 5.33 7174 38758
INTRADAY
LEVELS
SUPPORT
SUPP. 1
15140
SUPP. 2
14290
PIVOT
15770
RESISTANCE
RES. 1
16620
RES. 2
17250
WEEKLY TREND
Guargum short term trend is up ,
may continue in coming days
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BUY DHANIYA SEP ABOVE 11700 TGTS 11800,11900 SL 11550
SELL DHANIYA SEP BELOW 11550 TGTS 11450,11350 SL 11700
WEEKLY RECOMMENDATIONS
DHANIYA (SEP.)
GUARGUM (OCT.)
GUARSEED (AUG.)
BUY GUARGUM OCT ABOVE 16060 TGTS 16260,16460 SL 15810
SELL GUARGUM OCT BELOW 15760 TGTS 15560 , 15360 SL 16010
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COMMODITIES IN NEWS
CORIANDER
Coriander prices fell by 1.75 per cent on Thursday at the National Commodity & Derivatives
Exchange Limited (NCDEX) as the adequate stocks availability in the physical market put
pressure on coriander prices. At the NCDEX, coriander futures for August 2014 contract were
trading at Rs. 11,365 per quintal, down by 1.75 per cent, after opening at Rs. 11,330 against
the previous closing price of Rs. 11,567. It touched the intra-day low of Rs. 11,300 till the
tradesman in the market. Coriander is common in South Asian, Middle Eastern, Central
Asian, Mediterranean, Indian, Tex-Mex, Latin American, Portuguese, Chinese, African, and
Scan dinavianing. (At 11.33 AM today). Sentiment weakened further as speculators reduced
their positions on the back of sluggish
.
JEERA
Jeera futures pared the previous gains on short selling on improved arrivals, weak demand
amid on technical cues. The NCDEX Jeera September delivery settled the day at Rs 11,225,
down Rs 85 or 0.75%. Selling extended in spot Jeera amid lack of demand at elevated levels
following rising arrivals. The total stocks in local mandies were almost double of the previous
year's level of 35 lakh bags due to record production in the current year.
SOYABEAN
According to ministry of agriculture, Kharif soybean sowing area has progressed to 107.77
lakh hectares as on 14 August 2014, but is still 10.96% lower than the 121.04 lakh hectares
sown by this time last year. Rains during the last 2-3 weeks support the sowing pace over key
growing belts and the numbers are likely to improve in the days ahead. State wise details, in
MP soybean has been sown in 56.59 lakh hectares, in Maharashtra sowing reached to 35.12
lakh hectares and in Rajasthan sowing reached to 8.16 lakh hectares.
ECONOMIC NEWS
The July wholesale price inflation (WPI) came in at
5.19 percent (provisional), marginally higher than
CNBC-TV18 poll of 5.16 percent. The 2013 July
wholesale price inflation stood higher at 5.85 per-
cent. Alongside, the government has revised May
inflation numbers higher at 6.18 percent, marking it
the third revision of prices in recent months. How-
ever, July core inflation declined to 3.32 percent
against 3.9 percent in the previous month. The
movement of the index for the various commodity
groups is summarized below Primary Articles
(Weight 20.12 percent): This index rose by 2.7 per-
cent due to a spike in certain food articles like fruits
& vegetables, wheat and poultry & meat products.
However, Primary Articles inflation saw a slight de-
cline to 6.78 percent versus 6.84 percent (MoM). The
non-food articles index rose marginally by 0.8 per-
cent. Food Article Index: This index rose to 3.56 per-
cent in July whereas food articles inflation grew to
8.43 percent Vs 8.14 percent (MoM). Fuel & Power
(Weight 14.91 percent): The index for this major
group rose by 1.1 percent since June due to higher
petrol, high speed diesel and aviation turbine fuel
prices. But fuel and power group inflation declined
to 7.40 percent from 9.04 percent in June. Manufac-
tured Products
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NEWS RECAP
COMMODITY HEADLINES
High interest rates will help in long-run: Rajan
Inflation in services more evident than merchandise: ASSOCHAM study
USDINR likely to trade with positive bias, upside resistance capped at 60.70s
China Soybean Imports climb to 7.475 mn tons in July
India raises Sugar export subsidy to Rs 3371/ ton: Govt
India food inflation may not rise on Monsoon progress: CRISIL
NCDEX to have new membership category for its proposed forward contracts
WPI inflation eases to 5-month low of 5.19% in July
New Base Import Price For Edible oils
Low growth, high inflation not acceptable: Jaitley
Petrol prices may fall by Rs 2.50 by Independence day
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SOYABEAN
Soybean (plant delivery, Indore) edged-up on supportive buying while RM seed, Jaipur, eased on slack in demand as the buy-
ers are anticipating further fall in the seed prices. China sold out 23.07% at 82,489 metric tons (tones) of the 357,598 tones of
state reserve soybeans available at an auction on Tuesday - National Grain and Oil Trade Center. Soybean arrivals in Madhya
Pradesh remained flat at 22,000 bags compared to Wednesday’s level. All India arrivals of RM seed too remained steady at
95,000 bags compared Wednesday's level. Besides, RM seed arrivals in Rajasthan too remained flat at 0.5 lakh bags compared
to Wednesday’s level US soybean crop is reported under good condition. Soybean blooming, as on Aug 10, is reported at 92%
which is slightly above 5 year average of 91% and above 87% compared to the same period last year. The crop is 72% in pod
formation stage which is above 5 year average of 65% and also higher as compared to 55% during the same period last year.
Further, the crop is 70% in good to excellent condition, which is better than last year. The Chinese government is set to sell a
total of 3 million tones of soybeans from reserves this year which is estimated to produce 500,000 tones of soy oil and will fur-
ther weigh on the 1-million-tonnes of commercial edible oil stocks.
COTTON
FUNDAMENTAL & MANDI NEWS
Cotton mills in Tamil Nadu have asked the state government to relax cabotage rules, so that foreign flag vessels can be used to
transport cotton from Gujarat and Maharashtra to mills in the state, and thereby reduce freight charges on the material. The
mills have said that cotton production in the state is just a fraction of the total demand of 12 million bales.
Confirming the industry's request to the government for the relaxation, T Rajkumar, chairman, Southern India Mills Associa-
tion (SIMA) said, "The reason we are demanding this is that cotton production in the state is only 500,000 to 600,000 bales as
against the requirement of 12 million nbales cotton."
Registration of cotton yarn exports during the year increased significantly to 1,415 million kgs, 32.6 per cent higher than pre-
vious year's 1,067 million kgs. Average month-end stock of all yarn stood at 194 million kgs, 14.84 per cent higher than previ-
ous year's 169 million kgs, he said. Though there has been an increase in the registrations of cotton yarn exports, the average
month-end stock during the year stood at 126 million kgs, 12.5 per cent higher than previous year's 112 million kgs. There
was no no shortage of cotton yarn at any point of time during 2013-14 in the domestic market, Rajkumar noted.
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