10-May Agri Commodity Update. For More Information Please visit or contact

Transcription

1 10May2018 For More Information Please visit or contact Please refer to disclaimer at the end of the report.

2 Market Views MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL CORIANDER MAY CASTORSEED SUPPORT RESISTANCE SUPP Coriander short term trend is bearish and may continue in coming days. SUPPORT SUPP. 1 RESISTANC E TURMERIC MAY GUARGUM 5MT MAY SUPPORT SUPP. 1 SUPPORT SUPP. 1 RESISTANCE Turmeric short term trend is bearish and may continue in coming days. RESISTANCE Guargum Short term trend is bearish and may continue in coming days.

3 Most Active Contract TOP GAINERS Symbol Expiry Date Current Price Change Change % JEERA % GUAR SEED 10 MT % COTTON SEED OIL CAKE AKOLA % GUAR GUM 5 MT % NCDEX INDICES Index Value Pre. Close % Change Castorseed Chana Coriander Guargum5MT CORIANDER % TOP LOSERS Symbol Expiry Date Current Price Change Change % Jeera Musterseed TURMERIC % Soybean CASTOR SEED % Turmeric

4 Punjab has witnessed highest Wheat production this year in the last six years. The state has also crossed the procurement target fixed for it by Centre by contributing more than 38 per cent of the total procurement target of Wheat across the country for the year The procurement is still on in state. The state and government agencies have purchased lakh metric tonnes (LMT) Wheat from Punjab s mandies till May 7 while Centre had fixed a target of 119 LMT for Punjab out of the total target of 320 LMT across the country. The total production of Wheat in Punjab is set to reach around 186 LMT against 176 LMT last year. The overall outlook for Sugar remained weak even when the government's cane subsidy might marginally improve operational profitability of the mills, ICRA said in its latest report. "With the reduced cane costs, the total contribution margin is likely to increase by around Rs 500 per tonne of Sugar produced, which translates into a oneandahalf per cent margin at the operating level," ICRA said. However, in inspite of the expected marginal improvement in operating profitability, the overall profitability outlook for the sugar sector remained weak for FY19, the agency noted. Technically Mentha oil market is under short covering as market has witnessed drop in open interest by 6.78% to settled at 811 while prices up 18 rupees. Now MCX Mentha Oil is getting support at and below same could see a test of levels and resistance is now likely to be seen at , a move above could see prices testing Mentha oil on MCX settled up by 1.33% at on strong demand from consuming industries at the spot market. However upside seen amid limited expectation of commencement of fresh arrival from May month added negativity to the market. Commodities In News ECONOMIC NEWS A better yield of wheat in India this year is all set to boost the federal buying of the cereal for Public Distribution System, estimated at lakh tonne, allaying concern after untimely rains hit the ripened crop in April in the Northern states. With record procurement on the cards in Punjab, Haryana and Uttar Pradesh, the Food Corporation of India (FCI) has already bought around 300 lakh tonnes of wheat. Despite record procurement in Northern states the total figure is expected to marginally surpass the estimate, maintains Food Corporation of India. The procurement has been less than estimates in Madhya Pradesh, Ravinder Pal Singh, executive director, FCI, procurement, told ET. He said that the procurement in MP stood around 55 lakh tonnes compared to estimate of 67 lakh tonnes, he said. Punjab, largest contributor of wheat and paddy for PDS, has procured 123 lakh tonnes of wheat in the current season, highest contribution in the last sixyears. Technically Cotton market is under long liquidation as market has witnessed drop in open interest by 0.15% to settled at 8695 while prices down 130 rupees. Now Cotton is getting support at and below same could see a test of level, And resistance is now likely to be seen at 20874, a move above could see prices testing Cotton on MCX settled down by 0.62% at tracking weakness in spot demand amid weak overseas prices due to reports of good sowing report in the US. As per ICAC latest press release, India acreage is expected to decrease to 11.9 million hectares in 2018/19. Cotton exports from the country are still behind the last year exports volume. As per the data released by Government, country exported 34.1 lakh bales of cotton, down 6.3% during OctFeb period compared to 36.4 lakh bales last year same period.

5 Technical Outlook SELL CORIANDER MAY BELOW 4770 TARGET 4740/4700/4650 SL 4820 BUY TMC MAY ABOVE 7350 TARGET 7380/7420/7470 SL 7300 SELL GUARGUM5 MAY BELOW 8290 TARGET 8260/8220/8170 SL 8340

6 Daily Agri Update For India: Address: 411 Milinda Manor (Suites ) 2 RNT Marg. Opp Central Mall Indore (M.P.) For United States HNI& NRI Sales Contact: 2117 Arbor Vista Dr. Charlotte (NC)Cell: For Australia HNI & NRI Sales Contact: Mintara Road, Tarneit, Victoria, Post Code 3029 Cell: Singapore Contact Malaysia Contact Epic Research is one of India s largest Financial Advisory house. Epic Research is amongst leading and most valuable financial advisory provider companies in the private sector. DISCLAIMER The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility. The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailormade investment advice. Epic research recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. Epic research shall not be responsible for any transaction conducted based on the information given in this report. The share price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice. Analyst or any person related to epic research might be holding positions in the stocks recommended. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation for which either the site or its owners or anyone can be held responsible. Any surfing and reading of the information is the acceptance of this disclaimer. Investment in equity, futures, Forex and commodity market has its own risks. We, however, do not vouch for the accuracy or the completeness thereof. We are not responsible for any loss incurred whatsoever for any financial profits or loss which may arise from the recommendations above epic research does not purport to be an invitation or an offer to buy or sell any financial instrument. Our Clients (Paid or Unpaid), any third party or anyone else have no rights to forward or share our calls or SMS or Report or Any Information Provided by us to/with anyone which is received directly or indirectly by them. If found so then Serious Legal Actions can be taken.