Epic Research Daily Agri Report 13th June 2016

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7/26/2019 Epic Research Daily Agri Report 13th June 2016 http://slidepdf.com/reader/full/epic-research-daily-agri-report-13th-june-2016 1/7 DAILY AGRI COMMODITY REPORT 13 June 2016 HNI & NRI Sales Contact Australia Mintara Road, Tarneit, Victoria. Post Code 3029 Phone.: +61 422 063855 HNI & NRI Sales Contact USA 2117 Arbor Vista Dr. Charlotte (NC) Cell: +1 704 249 2315 Toll Free Number 1-800-200-9454 All queries should be directed to [email protected] 1 Epic Research India 411 Milinda Manor (Suites 409- 417) 2 RNT Marg. Opp Central Mall Indore (M.P.) Hotline: +91 731 664 2300 Alternate: +91 731 664 2320 Or give us a missed call at 026 5309 0639 Our Presence YOUR MINTVISORY Call us at 91-731-6642300

Transcript of Epic Research Daily Agri Report 13th June 2016

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DAILY AGRI COMMODITY REPORT

13 June 2016

HNI & NRI Sales Contact Australia

Mintara Road, Tarneit, Victoria. Post Code 3029

Phone.: +61 422 063855

HNI & NRI Sales Contact USA

2117 Arbor Vista Dr. Charlotte (NC)

Cell: +1 704 249 2315

Toll Free Number

1-800-200-9454

All queries should be directed to

[email protected]

1

Epic Research India

411 Milinda Manor (Suites 409- 417)

2 RNT Marg. Opp Central Mall

Indore (M.P.)

Hotline: +91 731 664 2300Alternate: +91 731 664 2320

Or give us a missed call at

026 5309 0639

Our Presence

YOUR MINTVISORY Call us at 91-731-6642300

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Market Views

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MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL

TURMERIC

JULY 8124 8142 8010 8020 -1.60 13790

INTRADAY

LEVELS

SUPPORT SUPP. 1

7973

SUPP. 2

7925

PIVOT

8057

Turmeric short term

trend is bearish and

May continue in

coming days.RESISTAN

CE

RES. 1

8105

RES. 2

8189

CORIANDER

JULY 6880 6925 6800 6800 -1.53 5820

INTRADAY

LEVELS

SUPPORT SUPP.1

6758

SUPP. 2

6717

PIVOT

6842

Coriander short term

trend is bearish and May

continue in coming

days.RESISTAN

CE

RES. 1

6883

RES. 2

6967

GUARGUM

JULY 5570 5800 5510 5760 +3.23 31252

INTRADAY

LEVELS

SUPPORT SUPP. 1

5580

SUPP. 2

5400

PIVOT

5690

Guargum short term

trend is bullish and

May continue in

coming days.RESISTAN

CE

RES. 1

5870

RES. 2

5980

CASTORSEED

- - - - - - -

INTRADAY

LEVELS

SUPPORT SUPP. 1

-

SUPP. 2

-

PIVOT

--

RESISTANCE

RES. 1

-

RES. 2

-

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Most Active Contract

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NCDEX INDICES

Index ValuePre.

Close

%

Change

CASTORSEED - - -

CHANA 6885 6727 +2.35

CORIANDER 6743 6859 -1.69

GUARGUM 5660 5470 +3.47

JEERA 16585 16500 +0.52

MUSTARD

SEED4671 4593 +1.70

SOYABEAN 3839 3844 -0.13

TURMERIC 7946 8104 -1.94

TOP LOSERS

SYMBOL EXPIRY DATECURRENT

PRICECHANGE

CHANGE

%

TURMERIC 20-06-2016 7946.00 -132.00 -1.63%

CORIANDER 20-06-2016 6743.00 -84.00 -1.23%

REF SOYA OIL 20-06-2016 642.60 -2.35 -0.36%

TOP GAINERS

SYMBOL EXPIRY DATECURRENT

PRICECHANGE

CHANGE

%

CHANA 20-06-2016 6885.00 105.00 1.55%

JEERA 20-06-2016 16585.00 110.00 0.67%

BARLEY 20-06-2016 1598.00 5.50 0.35%

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Commodities In News

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ECONOMIC NEWS

Even though the arrival of monsoon has brought some relief to farmers

after two back-to-back droughts, soybean farmers of Madhya Pradesh,

Maharashtra and Rajasthan are not too keen on increasing the acreage for 

their crop which stood at 110.65 lakh hectares during last year's kharif 

season.Instead, they are trying to increase productivity of soybean by 20%

 per hectare for a better crop size. Some farmers are planning to shift to

other crops such as pulses which had given better returns last year."Last

year, farmers faced a dry spell during the sowing season which was

followed by heavy rains during the harvesting period between September 

and October. The erratic weather conditions had impacted the kharif crop

in 2015.Farmers are still worried about the late rains. That's why some may

shift from soybean to some other kharif crop this year," said DN Pathak,

executive director, Soybean Processors Association of India (SOPA).

During the 2015 kharif season, production of soybean was around 69.29lakh tonnes, compared with 87.1 lakh tonnes in 2014."This year, farmers

are aiming to increase the yield by at least 20% for a better crop size.

Generally, per hectare production is 980-1000 tonnes. We are aiming to

increase it to 1,200 tonne per hectare," said Mahesh Rajput, a farmer from

Indore, Madhya Pradesh. An increase in crop size will help the country

reduce its import bill on account of edible oil.The country generally

imports around 14.5-15 million tonnes of edible oil to meet its domestic

consumption which is around 20 million tonnes annually.Due to a drop in

crop size, farmers are getting better price for their produce. Soybean prices

are up 7% than what they were a year ago. At present, a tonne of soybeanis fetching a price of Rs 3950 while in June last year, the price was Rs 3700

 per quintal.BV Mehta, executive director, Solvent Extractors' Association

of India (SEA), feels that there will be some marginal drop in acreage of 

soybean. "It may be 5%-10% maximum. But we do not see a significant

chunk of soybean farmers shifting to some other crop," he added.

Cotton on MCX settled down due to weak export demand from

Bangladesh, Pakistan and Vietnam. Though, some losses were capped

on lower output from major growing regions due to delayed arrival of 

monsoon coupled with scare of pest attacks such as whitefly and pink 

 bollworm. According to government and trade sources, Indian cotton

acreage is likely to decline by 5 -7 per cent this season compared to 118lakh hectares during the previous year.According to early estimates

acreage is likely to decline by around 10 lakh hectares. Delay in

monsoon, fear of pest attack which crop production previous year and

advise by State Governments to decline acreage under cotton are the

factors behind likely decline in acreage. India exported 0.618 lakh bales

of cotton last week (30 May -05 June 2016), which was 0.523 lakh

 bales previous to last week (23 -29 May 2016), according to the data.

Major importer of Indian cotton during the week (30 May -05 June,

2016) was Bangladesh. According to the data, Bangladesh imported0.257 lakh bales of cotton from India in the past week (30 May -05

June, 2016).

Mustard Seed on NCDEX settled up on supply worries in global

market. According to USDA's May report, global rapeseed production

is forecast to decline in 2016/17 to 66.15 million tons as lower sown

area is reported in Canada, Ukraine, the Europe, and China. Moreover,

in Canada and EU the rapeseed production might fall due lower  

acreage and expectation of insect damage. New arrivals were reported

in the range of 2-2.50 lakh bags.The latest survey report from SEA OFINDIA, the total mustard seed crop for marketing year 2015-16 is

estimated at 57.28 lakh tonnes against 50 lakh tonnes of the last year in

the same period. The total crop size of Rajasthan is estimated at 26.02

lakh tonnes against 23.02 lakh tonnes of the previous year. India's

mustard output is estimated at 5.8 mln tn in 2015-16 (Jul-Jun), up from

5.0 mln tn a year ago, due to better yield and favorable weather,

according to a survey conducted jointly by the Central Organisation for 

Oil Industry and Trade, Mustard Oil Producers Association, and the

Solvent Extractors' Association of India.

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Fundamental Watch : Cotton

COTTON PRICES AT KEY SPOT MARKETNational Market Update

According to government and trade sources, Indian cotton acreage is likely

to decline by 5 -7 per cent this season compared to 118 lakh hectares during

the previous year. According to early estimates acreage is likely to decline byaround 10 lakh hectares. Delay in monsoon, fear of pest attack which crop

 production previous year and advise by State Governments to decline acreage

under cottonare the factors behind likely decline in acreage.

Export of cotton-based textile goods declined in 2015-16 by 2.1 per cent to

$36.2 billion compared to $37.1 billion in 2014-15. Exports have been

declining during the last few months. The high price of domestic cotton,

coupled with heavy duties on import of cheaper Chinese varieties, has affected

 production of cotton goods according to industry officials.

The Cotton Association of India (CAI) has estimated India’s cotton output in

2015 -16 at 341.50 lakh bales (of 170 kg each), around 10.8 per cent lower 

Thicompared to the previous   year’s  production of 383 lakh bales. The

 projected balance sheet drawn by the CAI for 2015-16 pegs total supply at

429.10 lakh bales, while domestic consumption is seen at 305 lakh bales, thus

leaving an available surplus of 124.10 lakh bales.

Department of Agriculture, Ministry of Agriculture (MoA) in its second

advance estimates, has revised the cotton production estimates downwardly

for the season 2015-16 at 306.92 lakh bales (of 170 kg each). For the season

2014-15, the estimate was 346.23 lakh bales according to the first advance

estimates for the season.

CENTER 10-Jun-16 09-May-16 Change

RAJKOT 5445 4795 -50

BHIWANI 5500 5500 UNCH

ADAMPUR 5630 5550 +80

AHMEDABAD 5700 5750 -50

GONDAL 5555 5655 -100

GUNTUR NA NA -

RAICHUR 5600 5780 -180

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Technical Outlook 

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SELL CORIANDER JULY BELOW 6800 TARGET 6755 6655 SL

ABOVE 6865

BUY GUARGUM JULY ABOVE 5800 TARGET 5850 5920 SL

BELOW 5740

SELL TURMERIC JULY BELOW 8010 TARGET 7966 7906 SL

ABOVE 8070

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