AGRI COMMODITY MARKET OUTLOOK
Soybean
Soybean futures closed lower last week and trend is still range bound
on expectation of steady demand at current levels as supplies in the domestic
market is sufficient. As per the latest data released SEA, the country exported
a total of 1, 55,160 tonnes of soy meal was exported in Jan 2017 as against
28,400 tonnes in the same period last year.
Refine Soy Oil
Refined soy oil futures closed higher last week mainly on bargain
buying by the market participants. The higher production estimates of soy oil
in the country may keep the stock sufficient for the stockists. The production
of edible oil in 2016/17 will be 72.8 it, up 25.5% compared to last year. Last
year, edible oil production was at 58 lt.
Jeera
Jeera futures for Mar delivery closed lower last week tracking spot
prices which continue to trade lower as new season jeera arrived in market. New
jeera crop started arriving in the key spot market of Unjha in Gujarat.
Turmeric
Futures fall on profit booking on Friday on weak spot market as
supplies are improving and there is good demand for the new season crop. The
harvesting is going on in key producing states – Maharashtra, Tamilnadu and
Karnataka. On the export front, country exported about 74,524 tonnes; up by 32%
during April-Nov period compared last year exports of 56,471 tonnes, as per
government data.
AGRI COMMODITY MARKET LEVELS
JEERA
P. POINT-17095
S1 - 16900 R1 -17250
S2 –16800 R2 -17400
SOYBEAN
P. POINT-3059
S1 - 3045 R1-3080
S2 - 3030 R2-3105
CORIANDER
P. POINT-6928
S1- 6880 R1-7010
S2- 6830 R2-7090
R.M SEED
P. POINT-3818
S1 - 3805 R1-3840
S2 - 3790 R2-3860
TURMERIC
P. POINT-6804
S1- 6760 R1-6870
S2- 6715 R2-6940
Best Ncdex Tips Provider
ReplyDelete