TODAY AGRI COMMODITY MARKET TREND AND LEVELS UPDATE 15 MAY 2017.

AGRI COMMODITY MARKET OUTLOOK

Soybean

Soybean Jun futures fell more than 2.2% during last week tracking international market and sufficient supplies in the domestic market. As per USDA latest report, soybean production in the country is kept at the same level at 115 mt as last year while the crushing volume will be improved while meal exports and soy oil imports will be higher in 2017/18 compared to last year. However, IMD forecast for higher monsoon than previous forecast in April may keep the prices sideways.

Refine Soy Oil

MCX CPO closed higher last week tracking firm Malaysia market. There is expectation of good demand in the physical market. The government cut the base import prices of Crude palm oil by $22 per tonne and RBD palmolein by $17 per tonne for first half of May. Moreover, last week rupee hit its strongest level in 25 month results into cheap palm oil imports.

Jeera

Jeera Jun futures closed little higher for the week and continue its range bound trade mostly due to lack of increase in export interest. The arrivals have now slowed down in the physical market. As per Agmarknet data, about 4,316 tonnes of jeera arrived in May (1-14) compared to 17,494 in April (1-14). On the export front, country the exports increase by 29.6% to 1,08,513 tonnes in first 11 month of marketing year 2016/17 as per the data release by Dept of commerce, GOI. Recently, Gujarat Agriculture Department in its 3rd advance estimates for 2016/17 has revised down the production estimates to 2.12 lt, down 4% from its 2nd estimates and almost 11% compared to last year production of 2.38 lt.

Turmeric

NCDEX Turmeric closed higher last week on fresh buying on expectation of good demand during the off season. There was lower demand all season from industrial buyers. Turmeric arrivals in the country are lower in first 14 days of May at 28,212 tonnes compared to 69,452 tonnes during April (1-14), as per the Agmarknet data. The lower arrivals are due to poor realization by the farmers. On the export front, country exported about 97,596 tonnes during April-Feb period, up by 26.6% compared to last year exports of 77,087 tonnes, as per government data. There are expectations of improved demand in coming weeks as prices are lower.

AGRI COMMODITY MARKET LEVELS

JEERA

P. POINT-18545

S1 - 18400                                                          R1 -18700

S2 –18250                                                          R2 -18850

SOYABEAN

P. POINT-2900

S1 - 2885                                                             R1-2925

S2 - 2870                                                             R2-2945

CORIANDER

P. POINT-5679

S1- 5600                                                               R1-5770

S2- 5520                                                               R2-5860

R.M SEED

P. POINT-3761

S1 - 3730                                                              R1-3785

S2 - 3700                                                              R2-3800

TURMERIC

P. POINT-5698

S1- 5645                                                                R1-5750

S2- 5550                                                                R2-5785

TODAY AGRI COMMODITY MARKET TREND & LEVELS UPDATE 11 MAY 2017.

AGRI COMMODITY MARKET OUTLOOK

Soybean

Soybean Jun futures closed lower on Wednesday due to weak trend in the International market but spot prices improve on good meal exports data. According the latest forecast by IMD, India may receive higher monsoon than previous forecast in April. As per USDA latest report, soybean production in the country is kept at the same level at 115 mt as last year while the crushing volume will be improved while meal exports and soy oil imports will be higher in 2017/18 compared to last year. This indicates that there will be ample supplies available in the next season too.

Refine Soy Oil

Refined soy oil futures closed little lower despite firm trend in the physical market mainly due to profit booking. There is expectation of improving physical demand in coming months due to festival season. However, there is still good domestic supplies due to cheap imports and good domestic crushing. Government increases the tariff value for crude soyoil for the first half of May by $10 to $780 per tonnes. World Soybean oil production is forecast to rise to 56.2 mt in 2017/18 from 54.3 mt last year as per USDA latest report.   

Jeera

Jeera Jun futures continue its range bound trade this week to closed lower on Wednesday. The arrivals have been lower during first 7 days of May compared to April. As per Agmarknet data, about 2,450 tonnes of jeera arrived in May (1-7) compared to 7,997 in April (1-7). On the export front, country the exports increase by 29.6% to 1,08,513 tonnes in first 11 month of marketing year 2016/17 as per the data release by Dept of commerce, GOI. Recently, Gujarat Agriculture Department in its 3 rd advance estimates for 2016/17 has revised down the production estimates to 2.12 lt, down 4% from its 2nd estimates and almost 11% compared to last year production of 2.38 lt.

Turmeric

NCDEX Turmeric corrected on Wednesday after surging over 3.5% in the previous session on profit booking. During the current season, there was lower demand from industrial buyers and higher stocks available in the country. Turmeric arrivals in the country are lower in first 7 days of May at 11,528 tonnes compared to 20,703 tonnes during April (1-7), as per the Agmarknet data. The lower arrivals are due to poor realization by the farmers. On the export front, country exported about 97,596 tonnes during April-Feb period; up by 26.6% compared to last year exports of 77,087 tonnes, as per government data. There are expectations of improved demand in coming weeks as prices are lower.

AGRI COMMODITY MARKET LEVELS

JEERA

P. POINT-18410

S1 - 18300                                                          R1 -18550

S2 –18200                                                          R2 -18650

SOYABEAN

P. POINT-2926

S1 - 2920                                                             R1-2945

S2 - 2910                                                             R2-2960

CORIANDER

P. POINT-6567

S1- 6500                                                               R1-6620

S2- 6450                                                               R2-6720

R.M SEED

P. POINT-3759

S1 - 3710                                                              R1-3770

S2 - 3685                                                              R2-3810

TURMERIC

P. POINT-5602

S1- 5550                                                                R1-5750

S2- 5450                                                                R2-5850

TODAY AGRI COMMODITY MARKET TREND REPORT 08 MAY 20107.

AGRI COMMODITY MARKET OUTLOOK

Soybean

Soybean May futures continue its recovery in the last two session of the seek on Friday mostly due to lower level buying tracking firm trend in US soybeans. For the week, the prices were down on ample available stocks in the country. As per Agmarknet, arrivals of soybean during first week of May, lower by 33% compared to first week arrivals in April. Moreover, the stocks of soybean in NCDEX warehouse as on 1st May 2017 is about 1.21 lakh tonnes against the 55, 133 tonnes last year. This indicates that there are ample supplies available in the physical market.

Refine Soy Oil

Refined soy oil futures continue its uptrend in the current week on expectation of improving physical demand in coming months. However, there is still good domestic supplies due to cheap imports and good domestic crushing. Last week, government increases the tariff value for crude soyoil for the first half of May. Base import price of crude soyoil was increased by $10 to $780 per tonnes.  

Jeera

Jeera May futures closed down by more than 4.3% for the week due to weak trend in physical market is pressurizing prices in futures. Recently, Gujarat Agriculture Department in its 3rd advance estimates for 2016/17 has revised down the production estimates to 2.12 lt, down 4% from its 2nd estimates and almost 11% compared to last year production of 2.38 lt. The arrivals have been lower during first 7 days of May compared to April. As per Agmarknet data, about 2,450 tonnes of jeera arrived in May (1-7) compared to 7,997 in April (1-7). On the export front, country the exports increase by 29.6% to 1,08,513 tonnes in first 11 month of marketing year

Turmeric

NCDEX Turmeric prices plunge about 11.7% this week tracking weak physical market prices amid lower demand from industrial buyers and reports of higher stocks available in the country. Turmeric arrivals in the country are lower in first 7 days of May at 11,528 tonnes compared to 20,703 tonnes during April (1-7), as per the Agmarknet data. The lower arrivals are due to poor realization by the farmers. On the export front, country exported about 97,596 tonnes during April-Feb period, up by 26.6% compared to last year exports of 77,087 tonnes, as per government data. There are expectations of improved demand in coming weeks as prices are lower.

AGRI COMMODITY MARKET

AGRI COMMODITY MARKET LEVELS

JEERA

P. POINT-18275

S1 - 18000                                                          R1 -18500

S2 –17700                                                          R2 -18700

SOYABEAN

P. POINT-2896

S1 - 2825                                                             R1-2920

S2 - 2860                                                             R2-2940

CORIANDER

P. POINT-6567

S1- 6500                                                               R1-6620

S2- 6450                                                               R2-6720

R.M SEED

P. POINT-3759

S1 - 3710                                                              R1-3770

S2 - 3685                                                              R2-3810

TURMERIC

P. POINT-5374

S1- 5280                                                                R1-5460

S2- 5200                                                                R2-5560

TODAY AGRI COMMODITY MARKET TREND AND LEVELS UPDATE 02 MAY 2017.

AGRI COMMODITY MARKET OUTLOOK

Soybean

Soybean May futures see a steep fall of 2% on Tuesday due to long liquidation on anticipation of lower demand by the market participants at higher levels. The open interest too decline by 7500 tonnes. As per Agmarknet, arrivals of soybean during Apr 1- 25 is 2,32,853 tonnes while during in Mar it was about 2,83,644 tonnes during same time frame. As per latest SEA data, Soymeal exports from the country jumped by 137% to 916,306 tonnes in 2016/17 Vs 387,298 tonnes during last financial year 2015/16, however, m/m the exports have declined to 107,059 tonnes in Mar compared to 207,977 tonnes in Feb 2017.

Refine Soy Oil

Refined soy oil futures recovers on Friday after steeply fall in the previous day as government increase the tariff value for crude soyoil for the first half of May. Government base import price of crude soyoil was increased by $10 to $780 per tonnes. There is still weak trend in the International markets. Moreover, good domestic supplies and steady demand is pressurizing prices. As per SEA data, soy oil imports for March down more that 28.5% Y/Y to 2.3 lt and down 8.7 lt m/m.   

Jeera

Jeera May futures corrected for the second successive day on Friday on profit booking but closed higher for the week on lower production estimates by Gujarat Agriculture Department in its 3rd advance estimates for 2016/17. As per third advance estimates for 2016/17, production of Jeera in Gujarat revised down to 2.12 lt, down 4% from its 2nd estimates and almost 11% compared to last year production of 2.38 lt. The arrivals have been lower during the first half of current month compared to second half of last month. As per Agmarknet data, during first half of April about 16,441 tonnes of jeera arrived compared to 22,108 during second half of last month. On the export front, country the exports increase by 32.7% to 1,01,188 tonnes in first 10 month of marketing year 2016/17 as per the data release by Dept of commerce, GOI.

Turmeric

NCDEX Turmeric prices recover for the third successive session on Friday on lower arrivals and steady increase in demand at lower levels. Turmeric arrivals in the country is declining in first 20 days in April to 66,025 tonnes (Apr 1-20) compared to 1,15,768 tonnes during the same period in March, as per the Agmarknet data. On the export front, country exported about 89,704 tonnes during April-Jan period, up by 28.3% compared to last year exports of 69,870 tonnes, as per government data. There are expectations of improved demand in coming weeks as prices are lower.

AGRI COMMODITY MARKET LEVELS

JEERA

P. POINT-19,490

S1 - 19200                                                          R1 -19600

S2 –19000                                                          R2 -19850

SOYABEAN

P. POINT-2934

S1 - 2900                                                             R1-2965

S2 - 2860                                                             R2-2990

CORIANDER

P. POINT-6567

S1- 6500                                                               R1-6620

S2- 6450                                                               R2-6720

R.M SEED

P. POINT-3759

S1 - 3710                                                              R1-3770

S2 - 3685                                                              R2-3810

TURMERIC

P. POINT-6058

S1- 6000                                                                R1-6160

S2- 5920                                                                R2-6245

TODAY AGRI COMMODITY MARKET TREND & LEVELS REPORT 26 APRIL 2017.

AGRI COMMODITY MARKET OUTLOOK

Soybean

Soybean May futures see a steep fall of 2% on Tuesday due to long liquidation on anticipation of lower demand by the market participants at higher levels. The open interest too decline by 7500 tonnes. As per Agmarknet, arrivals of soybean during Apr 1- 25 is 2,32,853 tonnes while during in Mar it was about 2,83,644 tonnes during same time frame. As per latest SEA data, Soymeal exports from the country jumped by 137% to 916,306 tonnes in 2016/17 Vs 387,298 tonnes during last financial year 2015/16, however, m/m the exports have declined to 107,059 tonnes in Mar compared to 207,977 tonnes in Feb 2017.

Refine Soy Oil

Refined soy oil futures fell on Tuesday tracking steep fall in soybean prices in the domestic market. There is good supplies and steady demand in domestic market. The prices have been trading in a range since one month on good supplies. As per SEA data, soy oil imports for March down more that 28.5% Y/Y to 2.3 lt and down 8.7 lt m/m. Meanwhile, government lowered base import price for the fifth consecutive fortnight for crude soyoil by $14 to $770 per tonnes for second half of April.

  

Jeera

Jeera May futures corrected for the second successive day on Friday on profit booking but closed higher for the week on lower production estimates by Gujarat Agriculture Department in its 3rd advance estimates for 2016/17. As per third advance estimates for 2016/17, production of Jeera in Gujarat revised down to 2.12 lt, down 4% from its 2nd estimates and almost 11% compared to last year production of 2.38 lt. The arrivals have been lower during the first half of current month compared to second half of last month. As per Agmarknet data, during first half of April about 16,441 tonnes of jeera arrived compared to 22,108 during second half of last month. On the export front, country the exports increase by 32.7% to 1,01,188 tonnes in first 10 month of marketing year 2016/17 as per the data release by Dept of commerce, GOI.

Turmeric

NCDEX Turmeric prices recover for the third successive session on Friday on lower arrivals and steady increase in demand at lower levels. Turmeric arrivals in the country is declining in first 20 days in April to 66,025 tonnes (Apr 1-20) compared to 1,15,768 tonnes during the same period in March, as per the Agmarknet data. On the export front, country exported about 89,704 tonnes during April-Jan period, up by 28.3% compared to last year exports of 69,870 tonnes, as per government data. There are expectations of improved demand in coming weeks as prices are lower.

AGRI COMMODITY MARKET LEVELS

JEERA

P. POINT-19,400

S1 - 19200                                                          R1 -19700

S2 –19000                                                          R2 -19900

SOYABEAN

P. POINT-2986

S1 - 2960                                                             R1-3020

S2 - 2930                                                             R2-3065

CORIANDER

P. POINT-6855

S1- 6800                                                               R1-6910

S2- 6750                                                               R2-6970

R.M SEED

P. POINT-3779

S1 - 3750                                                              R1-3780

S2 - 3720                                                              R2-3830

TURMERIC

P. POINT-6220

S1- 6150                                                                R1-6280

S2- 6070                                                                R2-6350

AGRI COMMODITY MARKET OUTLOOK

Soybean

Soybean May futures closed higher last week as supplies are diminishing but the demand for crushing is intact due to encouraging soy meal exports. As per Agmarknet, arrivals of soybean during Apr 1-20 is 1,75,634 tonnes while during in Mar it was about 2,09,993 tonnes during same time frame. As per latest SEA data, Soymeal exports from the country jumped by 137% to 916,306 tonnes in 2016/17 Vs 387,298 tonnes during last financial year 2015/16, however, m/m the exports have declined to 107,059 tonnes in Mar compared to 207,977 tonnes in Feb 2017.

Refine Soy Oil

Refined soy oil futures were under pressure last week due to good supplies and steady demand. The prices have been trading in a range since one month on good supplies. As per SEA data, soy oil imports for March down more that 28.5% Y/Y to 2.3 lt and down 8.7 lt m/m. Meanwhile, government lowered base import price for the fifth consecutive fortnight for crude soyoil by $14 to $770 per tonnes for second half of April.

  

Jeera

Jeera May futures corrected for the second successive day on Friday on profit booking but closed higher for the week on lower production estimates by Gujarat Agriculture Department in its 3rd advance estimates for 2016/17. As per third advance estimates for 2016/17, production of Jeera in Gujarat revised down to 2.12 lt, down 4% from its 2nd estimates and almost 11% compared to last year production of 2.38 lt. The arrivals have been lower during the first half of current month compared to second half of last month. As per Agmarknet data, during first half of April about 16,441 tonnes of jeera arrived compared to 22,108 during second half of last month. On the export front, country the exports increase by 32.7% to 1,01,188 tonnes in first 10 month of marketing year 2016/17 as per the data release by Dept of commerce, GOI.

Turmeric

NCDEX Turmeric prices recover for the third successive session on Friday on lower arrivals and steady increase in demand at lower levels. Turmeric arrivals in the country is declining in first 20 days in April to 66,025 tonnes (Apr 1-20) compared to 1,15,768 tonnes during the same period in March, as per the Agmarknet data. On the export front, country exported about 89,704 tonnes during April-Jan period, up by 28.3% compared to last year exports of 69,870 tonnes, as per government data. There are expectations of improved demand in coming weeks as prices are lower.

AGRI COMMODITY MARKET LEVELS

JEERA

P. POINT-18915

S1 - 18800                                                          R1 -19150

S2 –18750                                                          R2 -19300

SOYABEAN

P. POINT-3047

S1 - 3020                                                             R1-3070

S2 - 2980                                                             R2-3090

CORIANDER

P. POINT-6814

S1- 6750                                                               R1-6900

S2- 6650                                                               R2-7000

R.M SEED

P. POINT-3791

S1 - 3760                                                              R1-3830

S2 - 3730                                                              R2-3855

TURMERIC

P. POINT-6214

S1- 6120                                                                R1-6345

S2- 6020                                                                R2-6470

TODAY AGRI COMMODITY MARKET TREND & LEVELS UPDATE 24 APRIL 2017

AGRI COMMODITY MARKET OUTLOOK

Soybean

Soybean May futures closed higher last week as supplies are diminishing but the demand for crushing is intact due to encouraging soy meal exports. As per Agmarknet, arrivals of soybean during Apr 1-20 is 1,75,634 tonnes while during in Mar it was about 2,09,993 tonnes during same time frame. As per latest SEA data, Soymeal exports from the country jumped by 137% to 916,306 tonnes in 2016/17 Vs 387,298 tonnes during last financial year 2015/16, however, m/m the exports have declined to 107,059 tonnes in Mar compared to 207,977 tonnes in Feb 2017.

Refine Soy Oil

Refined soy oil futures were under pressure last week due to good supplies and steady demand. The prices have been trading in a range since one month on good supplies. As per SEA data, soy oil imports for March down more that 28.5% Y/Y to 2.3 lt and down 8.7 lt m/m. Meanwhile, government lowered base import price for the fifth consecutive fortnight for crude soyoil by $14 to $770 per tonnes for second half of April.

  

Jeera

Jeera May futures corrected for the second successive day on Friday on profit booking but closed higher for the week on lower production estimates by Gujarat Agriculture Department in its 3rd advance estimates for 2016/17. As per third advance estimates for 2016/17, production of Jeera in Gujarat revised down to 2.12 lt, down 4% from its 2nd estimates and almost 11% compared to last year production of 2.38 lt. The arrivals have been lower during the first half of current month compared to second half of last month. As per Agmarknet data, during first half of April about 16,441 tonnes of jeera arrived compared to 22,108 during second half of last month. On the export front, country the exports increase by 32.7% to 1,01,188 tonnes in first 10 month of marketing year 2016/17 as per the data release by Dept of commerce, GOI.

Turmeric

NCDEX Turmeric prices recover for the third successive session on Friday on lower arrivals and steady increase in demand at lower levels. Turmeric arrivals in the country is declining in first 20 days in April to 66,025 tonnes (Apr 1-20) compared to 1,15,768 tonnes during the same period in March, as per the Agmarknet data. On the export front, country exported about 89,704 tonnes during April-Jan period, up by 28.3% compared to last year exports of 69,870 tonnes, as per government data. There are expectations of improved demand in coming weeks as prices are lower.

AGRI COMMODITY MARKET LEVELS

JEERA

P. POINT-19,100

S1 - 18900                                                          R1 -19300

S2 –18750                                                          R2 -19650

SOYABEAN

P. POINT-3057

S1 - 3030                                                             R1-3070

S2 - 3000                                                             R2-3090

CORIANDER

P. POINT-6894

S1- 6800                                                               R1-7010

S2- 6700                                                               R2-7150

R.M SEED

P. POINT-3804

S1 - 3780                                                              R1-3830

S2 - 3750                                                              R2-3855

TURMERIC

P. POINT-6216

S1- 6120                                                                R1-6345

S2- 6020                                                                R2-6470