Weekly Agri Commodity Trading Market News By Epic Research Pvt. Ltd. - 25th to 29th August 2014

AGRI COMMODITY Weekly WRAP UP

SUGAR FUTURE

Sugar prices were down by 0.33 per cent to Rs 3,040 per quintal in futures

trade today as speculators reduced positions on subdued demand from

bulk consumers in the spot market amid ample stock positions. At the Na-

tional Commodity and Derivatives Exchange, sugar for delivery in Octo-

ber fell by Rs 10, or 0.33 per cent, to Rs 3,040 per quintal with an open

interest of 2,030 lots. The September contract shed Rs 2, or 0.07 per cent,

to Rs 3,036 per

GUARGUM FUTURE

Guar gum prices declined by Rs 470 to Rs 17,650 per quintal in futures

trading today as speculators trimmed positions in tune with weak export

and domestic spot demand. Market men said participants offloaded positions amid weak cues from global markets. Besides, increased supply of guar seed from growing belts amid slackness in demand of guar gum at physical markets too weighed onprices, they added. At the National Commodity and Derivatives Exchange counter, guar gum prices for October contract slipped by Rs 470, or 2.59 per cent, to Rs 17,650 per quintal .

REF. SOYA OIL FUTURE

Refined soya oil prices declined 0.66 per cent to Rs 621.25 per 10 kg in futures trading today as speculators reduced positions amid sluggish demand in the spot market. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in September fell by Rs 4.15, or 0.66 per cent, to Rs 621.25 per 10 kg with an open interest of 95,785 lots. The October contract shed Rs 2.20, or 0.38 per cent, to Rs 584.40 per 10 kg in 87,720 lots. Analysts said offloading of positions by speculators due to subdued demand in the spot market against adequate stocks position mainly led to the fall in refined soya oil prices at futures trade.

CHANA FUTURE

Chana futures witnessed profit booking from higher levels due to recovery in kharif pulses sowing along with heavy stock position in local mandies. The NCDEX futures declined by 1.38 % today. The market sources suggested that favourable rainfall in Maharashtra and Madhya Pradesh will improve kharif crop conditions and also facilitate better sowing conditions for chana

crop. However, kharif pulses sowing acreage is still reported lower as compared to previous year as total acreage was seen at 8.98 million hectares, down 10 percent as on 15 August 2014. The prices will also be discouraged by higher stocks in local mandies. The market sources suggested that total stocks of around 70-80 lakh tonnes of chana have been reported in local mandies and these stocks can easily meet the chana requirement in the current season. The NCDEX September futures plummeted by 1.38% today to close at Rs 2892 per quintal. The NCDEX futures pared 1.54% in open interest indicating short covering by traders.

DHANIYA

BUY DHANIYA SEP ABOVE 11970 TGTS 12070 ,12170 SL 11820

SELL DHANIYA SEP BELOW 11750 TGTS 11650,11550 SL 11900

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