AGRI COMMODITY MARKET OUTLOOK
Soybean
Soybean futures closed down but the trend is still range bound 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 higher on Monday mostly on anticipation of good demand from the stockists. However, the prices fell after touching Rs. 719 per 10 kg to close at 702 on reports that the production of edible in 2016/17 will be a higher by 25.5% compared to last year to 72.8 lt. Last year, edible oil production was at 58 lt.
Jeera
Jeera futures continue to close lower on Monday as spot prices started to go down as new season jeera arrived in market. 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 lower on Monday tracking the weak spot prices. The arrivals of turmeric is increasing in the physical market as harvesting is going on in key producing states. 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-17300
S1 - 17150 R1 -17600
S2 –17000 R2 -17850
SOYABEAN
P. POINT-3033
S1 - 3010 R1-3055
S2 - 2970 R2-3075
CORIANDER
P. POINT-7259
S1- 7210 R1-7350
S2- 7160 R2-7440
R.M SEED
P. POINT-3826
S1 - 3800 R1-3855
S2 - 3760 R2-3880
TURMERIC
P. POINT-6750
S1- 6710 R1-6800
S2- 6670 R2-6850
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