Daily Agri Commodity Trading Market News By Epic Research Pvt. Ltd. - 19th August 2014
AGRI COMMODITY DAILY WRAP UP
CHANA UPDATE
Chana traded marginally up by 0.1% to Rs 2,869 per quintal in futures trade today as speculators created fresh positions amid spot demand.At the National Commodity and Derivatives Exchange, chana for delivery in August rose by Rs 3, or 0.10%, to Rs 2,869 per quintal with an open interest of 9,980 lots.
Likewise, the commodity for delivery in September edged higher by Re 1, or 0.03%, to Rs 2,890 per quintal in 1,68,170 lots.Analysts said fresh positions built-up by speculators after demand picked up in the spot market helped chana prices to trade marginally higher at futures trade.
CARDAMOM UPDATE
Cardamom futures surged sharply on strong buying support amid weak arrivals due to the expected fall in the crop in the current year. MCX Cardamom September delivery ended the day at Rs 956.10, up Rs 25.90 or 2.8%. Azhukal is the most severe fungal disease of cardamom is affecting the crop. The ex tended dry period before the onset of monsoon and the heavy showers in the past two weeks have damaged the crop. Lower arrivals reported from the first time picking of the current harvest season. Cardamom made one month high as buying pushed prices higher amid fear of lower crop. day at Rs 956.10, up Rs 25.90 or 2.8%.
CHILI UPDATE
Chilli prices fell 0.99 per cent to Rs 10,050 per quintal in futures trade today as specula- tors booked profits at prevailing higher levels amid fall in demand in the spot market. Further, adequate stocks position in the physical market on increased arrivals from producing belt put pressure on chilli teja prices. At the National Commodity and Derivative Exchange, chilli teja for delivery in August lost Rs 100, or 0.99 per cent, to Rs 10,050 per quintal with an open interest of 80 lots. Analysts said besides profit-booking by speculators, fall in demand in the spot market against adequate supplies led to the fall in chilli teja prices at futures trade. .
NATIONAL MARKET REPORT
Soybean (plant delivery, Indore) edged-down on weak buying. More over, RM seed, Jaipur, also eased on slack in demand as the buyers are anticipating further fall in the seed prices. China sold out 23.07% at 82,489 metric tons (tonnes) of the 357,598 tonnes of state reserve soybeans available at an auction on Tuesday – National Grain and Oil Trade Center. Soybean arrivals in Madhya Pradesh were 18,000 bags. All India arrivals of RM seed too remained steady at 95,000 bags compared Thursday’s level. Besides, RM seed arrivals in Rajasthan too remained flat at 0.5 lakh bags compared to Thursday’s level.
INTERNATIONAL UPDATE
US soybean crop is reported under good condition. Soybean blooming, as
on Aug 10, is reported at 92% which is slightly above 5 year average of
91% and above 87% compared to the same period last year. The crop is
72% in pod formation stage which is above 5 year average of 65% and
also higher as compared to 55% during the same period last year. Further,
the crop is 70% in good to excellent condition, which is better than last
year. Soybean (plant delivery) prices are expected to feature range bound
movement tracking international oils and fats market. The Indore
(Plant Delivery) prices are expected to be within the range of 3850-3950
levels in the near term.
DHANIYA
SELL BELOW 11550 TGT 11520 -11470 SL 11600
BUY ABOVE 11635 TGT 11665-11715 SL 11585
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