TODAY AGRI COMMODITY MARKET OVERVIEW AND LEVELS UPDATE REPORT 01 MARCH 2017.

AGRI COMMODITY MARKET OUTLOOK

Soybean

Soybean futures traded higher for the second conse4cutive session on Tuesday due to bargain buying and good demand in the spot market. The production is expected to be higher this year and the oil millers are active at lower prices. 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 jumps more than 3.2% on Tuesday tracking clue from the international markets. CBOT soyoil too climb close to 4% after the head of the Renewable Fuels Association said that U.S. President Donald Trump's administration would lift the responsibility for blending biofuels off refiners. However, domestic 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.

Jeera

Jeera March future closed higher on Tuesday due to short selling by the market participants and rolling over their positions to April contracts. The arrivals of jeera in Gujarat are improving so as the demand. As per Agmarknet data, 5,924 tonnes of jeera arrived during Feb 20-25 compared to 3,044 tonnes in the previous week.

Turmeric

NCDEX Turmeric prices improved demand for the new season turmeric. In the recent weeks the supplies have improved. The turmeric arrivals in the country increase to 28,337 tonnes last week (20-25 Feb) compared to 7,300 tonnes during previous week, as per the Agmarknet data. On the export front, country exported about 74,524 tonnes; up by 32% during April-Nov period compared to last year exports of 56,471 tonnes, as per government data.

AGRI COMMODITY MARKET LEVELS

JEERA

P. POINT-16895

S1 - 16650                                                        R1 -17050

S2 –16400                                                        R2 -17200

SOYABEAN

P. POINT-2937

S1 - 2910                                                             R1-2965

S2 - 2880                                                             R2-2995

CORIANDER

P. POINT-6502

S1- 6420                                                               R1-6560

S2- 6350                                                               R2-6630

R.M SEED

P. POINT-3848

S1 - 3800                                                              R1-3885

S2 - 3755                                                              R2-3925

TURMERIC

P. POINT-6876

S1- 6780                                                                R1-6970

S2- 6750                                                                R2-7050