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

TODAY AGRI COMMODITY MARKET OVERVIEW UPDATE 11 APRIL 2017.

AGRI COMMODITY MARKET OUTLOOK

Soybean

Soybean May futures closed lower on Monday and continues its decline as supplies have improved last week but demand remains steady at lower levels. The supplies have increased during the last week compared to previous week. As per Agmarknet, arrivals of soybean during Apr 3-8 is 43,753 while during Mar 27- Apr 1 were about 32,514 tonnes Vs 90,767 tonnes during previous week. 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 fells on Monday and continue its range bound to lower trend tracking reports of high stocks with the stockists and good cheap imports. Prices are week at the moment mainly due to weakness in US and bearish trend in Malaysian palm oil. Meanwhile, government lowered the base import price of crude soyoil by $21 to $784 per tonnes for first half of April which may pressurize edible oil. There is expectations of bumper oilseeds output and higher availability of edible oil in the country.

Jeera

Jeera April futures closed higher on Monday due to expectation of good demand for exports coupled with lower than expected supplies. The arrivals have been lower during the second half of current month compared to last month same period while the demand have increased. As per Agmarknet data, during second half of March about 21,722 tonnes of jeera arrived compared to 22,108 during first half. 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. As per second advance estimates for 2016/17, production of Jeera in Gujarat will be 2.21 lt, down almost 11% compared to last year production of 2.38 lt.

Turmeric

NCDEX Turmeric continue its down trend on Monday tracking lower prices in spot market due to higher supplies and steady demand. However, turmeric arrivals in the country is on higher side during second half of March at 79,534 tonnes compared to 63,965 tonnes during last month same period, 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-19,190

S1 - 19000                                                          R1 -19400

S2 –18750                                                          R2 -19600

SOYABEAN

P. POINT-2913

S1 - 2900                                                             R1-2935

S2 - 2880                                                             R2-2960

CORIANDER

P. POINT-7307

S1- 7250                                                               R1-7450

S2- 7180                                                               R2-7570

R.M SEED

P. POINT-3869

S1 - 3850                                                              R1-3890

S2 - 3830                                                              R2-3940

TURMERIC

P. POINT-6264

S1- 6200                                                                R1-6350

S2- 6130                                                                R2-6420

TODAY AGRI COMMODITY MARKET NEWS & LEVEL REPORT UPDATE 05 APRIL 2017.

AGRI COMMODITY MARKET OUTLOOK

Soybean

Soybean April futures closed higher on Monday due to bargain buying and lower arrivals. The supplies have been decreased drastically last week compared to previous week. As per Agmarknet, arrivals of soybean during Mar 27- Apr 1 were about 32,514 tonnes Vs 90,767 tonnes during previous week. The mills have procured large volumes of soybean earlier in the season lower levels which helps in more competitive prices of meals for record exports.

Refine Soy Oil

Refined soy oil futures continue its range bound movement tracking steady demand from the physical market and reports of high stocks with the stockists. Prices are week at the moment mainly due to weakness in US and bearish trend in Malaysian palm oil.  

Jeera

Jeera April futures hit upper circuit on Monday triggered by good demand for exports coupled with lower than expected supplies. The arrivals have been lower during the second half of current month compared to last month same period while the demand have increased. As per Agmarknet data, during second half of March about 21,722 tonnes of jeera arrived compared to 22,108 during first half. Exchange will impose a 5% additional margin on all running as well as yet-to-be-launched futures contracts of jeera, on both buy and sell positions.

Turmeric

NCDEX Turmeric closed lower Monday on good arrivals and lower physical demand. The turmeric arrivals in the country is on higher side during second half of March at 79,534 tonnes compared to 63,965 tonnes during last month same period, as per the Agmarknet data. On the export front, country exported about 82,115 tonnes during April-Dec period, up by 28% compared to last year exports of 64,105 tonnes, as per government data.

AGRI COMMODITY MARKET LEVELS

JEERA

P. POINT-18,615

S1 - 18300                                                          R1 -18800

S2 –18100                                                          R2 -19000

SOYABEAN

P. POINT-2870

S1 - 2840                                                             R1-2895

S2 - 2810                                                             R2-2920

CORIANDER

P. POINT-7714

S1- 7610                                                               R1-7790

S2- 7505                                                               R2-7865

R.M SEED

P. POINT-3939

S1 - 3905                                                              R1-3960

S2 - 3870                                                              R2-3985

TURMERIC

P. POINT-6304

S1- 6230                                                                R1-6350

S2- 6160                                                                R2-6430

TODAY AGRI COMMODITY MARKET OVERVIEW REPORT 03 APRIL 2017.

AGRI COMMODITY MARKET OUTLOOK

Soybean

Soybean April futures closed lower of the week on weak spot demand despite less arrivals. The supplies have been decreased drastically this week compared to previous week. As per Agmarknet, arrivals of soybean during 27-31 Mar were about 24,979 tonnes Vs 80,092 tonnes during previous week. The mills have procured large volumes of soybean earlier in the season lower levels which helps in more competitive prices of meals for record exports. The market may get support at lower levels from news of Govt to allow export of edible oils including soya oil.

Refine Soy Oil

Refined soy oil futures closed lower last week tracking weak demand from the physical market and reports of high stocks with the stockists. Prices are week mainly due to weakness in US and bearish trend in Malaysian palm oil. The government lowered the base import price of crude soy oil by $21 to $784 per tonnes for first half of April which may pressurize edible oil. There is expectations of bumper oilseeds output and higher availability of edible oil in the country.  

Jeera

Jeera April futures closed lower last week basically on profit booking as demand from physical market slowed down. Exchange will impose a 5% additional margin on all running as well as yetto-be-launched futures contracts of jeera, on both buy and sell positions. The arrivals have been good during the second half of current month compared to last month same period. As per Agmarknet data, during second half of March about 23,379 tonnes of jeera arrived compared to 20,042 during first half.

Turmeric

NCDEX Turmeric closed lower last week amid good arrivals and lower physical demand. The turmeric arrivals in the country is on higher side during second half of March to 79,534 tonnes compared to 63,965 tonnes during last month same period, as per the Agmarknet data. On the export front, country exported about 82,115 tonnes during April-Dec period, up by 28% compared to last year exports of 64,105 tonnes, as per government data.

AGRI COMMODITY MARKET LEVELS

JEERA

P. POINT-17900

S1 - 17700                                                          R1 -18200

S2 –17500                                                          R2 -18400

SOYABEAN

P. POINT-2855

S1 - 2850                                                             R1-2865

S2 - 2840                                                             R2-2875

CORIANDER

P. POINT-7537

S1- 7520                                                               R1-7560

S2- 7500                                                               R2-7580

R.M SEED

P. POINT-3908

S1 - 3880                                                              R1-3950

S2 - 3850                                                              R2-3985

TURMERIC

P. POINT-6278

S1- 6240                                                                R1-6340

S2- 6210                                                                R2-6400