Daily Agri Commodity Trading Market News By Epic Research Pvt. Ltd. - 21th August 2014

AGRI COMMODITY DAILY WRAP UP

CHANA UPDATE

Chana prices closed higher 2.5 per cent on Tuesday at the National Com-

modity & Derivatives Exchange Limited (NCDEX) as the traders enlarged

their holdings in the commodity on account of the good demand in the

market. the restricted arrivals of the commodity in the physical market due

to lower estimated output also influenced the chana prices. India is the

largest producer of chickpea followed by Pakistan, Turkey and Iran. India

produces around 6 to 8 million tonnes and contributes around 70 per cent

of the total world production.

CARDAMOM UPDATE

Cardamom prices rose by 0.71 per cent at the Multi Commodity Exchange

on account of good buying support from both exporters and upcountry buy-

ers and also on hopes of improved export demand. Cardamom futures for

August 2014 contract were trading at Rs 963.20 per kg, up by 0.71 per cent,

after opening at Rs. 957.90 against the previous closing price of Rs. 956.70.

It touched the intra-day high of Rs. 966.90 till the trading. Sentiment im-

proved further as a result of firm demand in the market against restricted

arrivals from producing belts of Chandausi in Uttar Pradesh..

CORIANDER UPDATE

Coriander prices rose by 0.35 per cent on Wednesday at the National Com-

modity & Derivatives Exchange Limited (NCDEX) as a result of the limited

stocks on account of restricted arrivals from the major growing belts. Senti-

ment improved further as the investors enlarged their holdings tracking the

surge in the demand for the commodity. Coriander is common in South

Asian, Middle Eastern, Central Asian, Mediterranean, Indian, Tex-Mex,

Latin American, Portuguese, Chinese, African, and Scandinavian cuisine.

NATIONAL MARKET REPORT

Soybean (plant delivery, Indore) fell on weak low soy product demand

while mustard seed, Jaipur, rebound on buying support as expected.

This is despite weakness in BMD CPO. Soybean arrivals in Madhya Pradesh slightly improved to 22,000 bags compared to 20,000 bags on Tuesday. All India arrivals of RM seed too remained flat 1.0 lakh bags compared to Tuesday’s level. Besides, RM seed arrivals in Rajasthan too remained steady 0.55 lakh bags compared to Tuesday’s level. Indian soybean and soyoil futures fell on Wednesday, tracking weak global markets and on sluggish export demand for soymeal. The key October soybean contract closed down 0.50 percent at 3,387 rupees per 100 kg .

INTERNATIONAL UPDATE

US soybean crop is reported under good condition. Soybean blooming,

as on Aug 18, is reported at 95% which is at par with the 5 year aver-

age but slightly above 91% compared to the same period last year. The

crop is 83% in pod formation which is above 5 year average of 79% and

also above 70% during the same period last year. Further, the crop is 71% in good to excellent condition, which is better than last year. The factors are considered to be bearish for the international soybean for short-term. Malaysian palm oil lost more ground on Wednesday, falling for a sixth consecutive session to its lowest since October 2009 as slowing exports and prospects of near-record U.S. soybean production .

DHANIYA

SELL BELOW 11910 TGT 11880 -11830 SL 11960

BUY ABOVE 12050 TGT 12080-12130 SL 12000

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