TODAY AGRI COMMODITY MARKET NEWS & LEVELS REPORT 21 MARCH 2017.

AGRI COMMODITY MARKET OUTLOOK

Soybean

Soybean April futures closed higher on Monday as supplies have been lower due to lower prevailing prices and good domestic as well as export demand. Soybean exports during Oct-Feb were estimated at 112,000 tonnes, compared with 80,186 tonnes in the year-ago period, as per SOPA press release. Arrivals during February fell to 650,000 tons as compared to 900,000 tons in January.

Refine Soy Oil

Refined soy oil futures closed higher on Monday and continue uptrend on good domestic demand and firm rival palm oil. The prices are firming up despite higher imports of edible oil in Feb and cut in base import prices for edible oil. According to data released by the Solvent Extractors' Association of India (SEA), India's edible oil imports rose 15.8% on year to 1.23 mt in February. The government has cut the base import price of soyoil by $9 per tonnes for second half of March. The base import price of crude soyoil is now at $805 from $879 during Feb first half.

Jeera

Jeera March future closed higher due to good demand seen in spot markets. However, market participants are expecting good exports demand in coming weeks. The arrivals have been good in the physical market. As per Agmarknet data, during Mar 1-20 about 30,695 tonnes of jeera arrived compared to 9,373 tonnes during last month same period.

Turmeric

NCDEX Turmeric continues to trade lower on Monday due higher arrivals and lower demand physical demand. The demand for the new season turmeric in recent weeks is lower. The turmeric arrivals in the country are higher at 115,205 tonnes during Mar 1- 20 compared to 30,945 tonnes during previous month, as per the Agmarknet data. On the export front, country exported about 82,115 tonnes during April-Dec period, up by 28% compared to last year exports of 64,105 tonnes, as per government data.

AGRI COMMODITY MARKET LEVELS

JEERA

P. POINT-17,220

S1 - 17000                                                          R1 -17400

S2 –16800                                                          R2 -17600

SOYABEAN

P. POINT-2913

S1 - 2890                                                             R1-2940

S2 - 2860                                                             R2-2970

CORIANDER

P. POINT-7207

S1- 7120                                                               R1-7280

S2- 7020                                                               R2-7370

R.M SEED

P. POINT-3891

S1 - 3870                                                              R1-3910

S2 - 3850                                                              R2-3940

TURMERIC

P. POINT-6394

S1- 6350                                                                R1-6420

S2- 6270                                                                R2-6470