AGRI COMMODITY MARKET UPDATE 24 NOV 2016 REPORT UPDATES.

AGRI   COMMODITY MARKET OUTLOOK

• Sowing of rabi crops like wheat, pulses and oilseeds has not been affected due to demonetization confirmed Agriculture Minister Radha Mohan Singh. In West Bengal, rabi crops have been sown in 2.39 lakh hectares till November 18 of this rabi season, as against 2.25 lakh hectares in year-ago period. In Uttar Pradesh, rabi crops have been sown in 33.79 lakh hectares, much higher than 25.91 lakh hectares year ago.  
• Soyabean futures traded higher supported by higher prices in international markets on continued signs of strong demand for US crop. It improved further as USDA reported export inspections of US soybeans in latest week at more than 2.6 million tons, topping a range of trade expectations for 1.7 million to 2 million tons. Furthermore, lower supplies in physical market as there is cash as well as supply crunch in all the Agricultural Produce Market Committees (APMCs) mandis attributed rise on Soyabean prices. 
• Jeera futures traded higher due to good buying support from retailers and stockists at the spot market. Further, expectation of fresh export enquiries from Bangladesh and China amid restricted arrivals from growing regions too fuelled the uptrend.
• Indian wheat futures fell as much as 4 % and touched the lower circuit limit, triggering a restriction on bidding for the commodity below that level for day. Indian government decision to increase government supply and to raise price has led to decline. 
• Malaysian palm oil futures extended gains into a second session, reaching a more than the one-week high, supported by gains in rival soyoil on the Chicago Board of Trade and the China's Dalian Commodity Exchange. Chicago Board of Trade soybean futures hit a four-month high on the strength in Chinese soy markets.

ncdex market tips

NCDEX Market update:-

JEERA

PP- 18030

R1- 18480                                              S1-17740

R2- 18770                                              S2-17290

TURMERIC

PP- 7219

R1- 7317                                                S1-7163

R2- 7373                                                S2-7065

CORIANDER

PP- 8028

R1- 8153                                                 S1-7955

R2- 8226                                                 S2-7830

SOYABEAN

PP- 3068

R1- 3095                                                 S1-3035

R2- 3128                                                 S2-3008

MUSTERED OIL

PP- 4645

R1- 4676                                                S1-4611

R2- 4710                                                S2-4580

GAUR SEED

PP- 3256

R1- 3282                                               S1-3232

R2- 3306                                               S2-3206