AGRI COMMODITY MARKET OUTLOOK
Soybean
Soybean futures traded mostly sideways during last week and closed
little lower on expectation that the supplies in the domestic market will
remain sufficient in the physical market. The bulk buyers and oil millers are
quite active at lower levels keeping pressure on prices.
Refine Soy Oil
Refined soy oil futures closed lower last week on reports that the
production of edible in 2016/17 will be a higher by 25.5% compared to last year
to 72.8 lakh tonne. Last year, edible oil production was at 58 lt.
Jeera
Jeera futures closed lower last week on profit booking as new season
jeera arrived in market. But anticipation of good demand prospects for the new
season jeera crop limit losses. New jeera crop started arriving in the key spot
market of Unjha in Gujarat. There is a forecast of fall in jeera production by
12 % to 387,000 tonnes during 2016-17 due to lower acreage.
Turmeric
Futures closed higher last week due to good rise in spot prices. There
is a pick –up in spot demand from the stockists and up-country buyers. Spot
turmeric arrivals decreased at Erode market as the prices have been down last
week. On the export front, country exported about 65,848 tonnes of turmeric
during April-Oct period, up by 27% to 51,910 tonnes compared last year, as per
government data.
AGRI COMMODITY MARKET LEVELS
JEERA
P. POINT-17775
S1 - 17560 R1 -17930
S2 –17330 R2 -18170
SOYBEAN
P. POINT-3043
S1 - 3020 R1-3060
S2 - 2985 R2-3085
CORIANDER
P. POINT-7369
S1- 7330 R1-7450
S2- 7250 R2-7530
R.M SEED
P. POINT-3839
S1 - 3810 R1-3860
S2 - 3780 R2-3890
TURMERIC
P. POINT-6780
S1- 6720 R1-6870
S2- 6640 R2-6960
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