TODAY AGRI COMMODITY MARKET NEWS & LEVEL REPORT UPDATE 05 APRIL 2017.

AGRI COMMODITY MARKET OUTLOOK

Soybean

Soybean April futures closed higher on Monday due to bargain buying and lower arrivals. The supplies have been decreased drastically last week compared to previous week. As per Agmarknet, arrivals of soybean during Mar 27- Apr 1 were about 32,514 tonnes Vs 90,767 tonnes during previous week. The mills have procured large volumes of soybean earlier in the season lower levels which helps in more competitive prices of meals for record exports.

Refine Soy Oil

Refined soy oil futures continue its range bound movement tracking steady demand from the physical market and reports of high stocks with the stockists. Prices are week at the moment mainly due to weakness in US and bearish trend in Malaysian palm oil.  

Jeera

Jeera April futures hit upper circuit on Monday triggered by good demand for exports coupled with lower than expected supplies. The arrivals have been lower during the second half of current month compared to last month same period while the demand have increased. As per Agmarknet data, during second half of March about 21,722 tonnes of jeera arrived compared to 22,108 during first half. Exchange will impose a 5% additional margin on all running as well as yet-to-be-launched futures contracts of jeera, on both buy and sell positions.

Turmeric

NCDEX Turmeric closed lower Monday on good arrivals and lower physical demand. The turmeric arrivals in the country is on higher side during second half of March at 79,534 tonnes compared to 63,965 tonnes during last month same period, 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-18,615

S1 - 18300                                                          R1 -18800

S2 –18100                                                          R2 -19000

SOYABEAN

P. POINT-2870

S1 - 2840                                                             R1-2895

S2 - 2810                                                             R2-2920

CORIANDER

P. POINT-7714

S1- 7610                                                               R1-7790

S2- 7505                                                               R2-7865

R.M SEED

P. POINT-3939

S1 - 3905                                                              R1-3960

S2 - 3870                                                              R2-3985

TURMERIC

P. POINT-6304

S1- 6230                                                                R1-6350

S2- 6160                                                                R2-6430