AGRI COMMODITY MARKET OUTLOOK
Soybean
Soybean futures for February delivery closed
unchanged on Wednesday. The 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 on positive
note tracking physical market prices on anticipation of demand coming from bulk
buyers and international prices expected to improve in coming weeks. However,
the production of edible 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 recover on Wednesday
after falling for two sessions. The spot prices 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. There is a forecast of fall in jeera production by
12 % to 387,000 tonnes during 2016-17 due to lower acreage.
Turmeric
Futures traded on positive note on Wednesday
on lower supplies and 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 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-17370
S1 - 17240 R1 -17470
S2 –17110 R2 -17580
SOYABEAN
P. POINT-3020
S1 - 3000 R1-3040
S2 - 2980 R2-3070
CORIANDER
P. POINT-7183
S1- 7140 R1-7220
S2- 7110 R2-7270
R.M SEED
P. POINT-3844
S1 - 3810 R1-3870
S2 - 3780 R2-3900
TURMERIC
P. POINT-6922
S1- 6875 R1-6980
S2- 6800 R2-7040
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