AGRI COMMODITY MARKET LEVEL & NEWS UPDATE 27 FEB 2017.

AGRI COMMODITY MARKET OUTLOOK

Soybean

Soybean futures continue to close lower this week due to good supplies putting pressure on prices. The production is expected to be higher this year. The Soybean Processors Association of India has raised the estimate for soy meal exports in 2016-17 (Oct-Sep) to 1.8 mt from 1.0 mt projected earlier.

Refine Soy Oil

Refined soy oil futures continue to trade lower due to weak physical demand, lowering base import price and higher production estimates of soy oil in the country. The production of edible oil in 2016/17 will be 72.8 lt, up 25.5% compared to last year. Last year, edible oil production was at 58 lt.

Mentha Oil

Mentha oil prices rose as speculators indulged in built up fresh positions amid uptick in demand from consuming industries in the spot market.

Turmeric

US Food and Drugs Administration has issued import alert against some Indian turmeric exporters. The FDA declaration makes Indian turmeric products subject to detention without physical examination for allegedly offering turmeric with levels of lead that may render the product injurious to health for import into United States.

AGRI COMMODITY MARKET LEVELS

JEERA

P. POINT-17365

S1 - 17260                                                        R1 -17505

S2 –17120                                                        R2 -17610

SOYABEAN

P. POINT-2887

S1 - 2871                                                             R1-2912

S2 - 2841                                                             R2-2928

CORIANDER

P. POINT-6764

S1- 6698                                                               R1-6804

S2- 6660                                                               R2-6870

R.M SEED

P. POINT-3770

S1 - 3756                                                              R1-3788

S2 - 3738                                                              R2-3802

TURMERIC

P. POINT-6892

S1- 6795                                                                R1-6900

S2- 6720                                                                R2-6980