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

AGRI COMMODITY DAILY 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.

National Market Report

No major change in sentiments has been witnessed in castor market on Friday. Cash market is likely to trade range bound in the weeks ahead as weak demand restricts upward momentum. Planters are offering Rs 795 per 20 kg. In Mehsana and are unwilling to offer higher price for castor seed at this point of time. Castor oil FOB quote is hovering in the range of $1440 to $1442 per tonne. As area coverage has improved considerably amid sluggish demand, any uptrend in the short term is unlikely. Area coverage till 14th August has been registered at 5.52 lakh higher than last year (4.89 lakh ha.) till date. Normal area for whole kharif season is 10.37 lakh ha. Area under castor seed is likely to increase at least by 9 to 10 percent from 9.83 to 10.54 lakh ha. in 2014-15. However, it would not impact price much in the third quarter.

International Update

FoB quote for castor oil at Kandla has increased from $1430 to $1440 for

export in last three days. Price has increased almost $10 per tonne today

despite lower quotes for seed. Buyers like China,EU and Japan may enter

in to the market in second half of August for bulk buying. Demand for

castor meal continues from EU, USA and China. However, recent dip has

slowed down fresh deal for the same. As buyers remain inactive FOB

price is bound to stay steady in the third week of August. Export quote

for meal increased slightly by $2 to $108 per tonne today. Price of castor

oil in Rotterdam too has increased from $1705to $1725 per metric tonne

during last one week. Buyers like EU, USA and China remain sidelined.

No major export trade was reported on Thursday and buyers are waiting

for a clear directional clue.

DHANIYA

SELL DHANIYA BELOW 11810 TGT 11780-11730 SL 11860

BUY DHANIYA ABOVE 11905 TGT 11935-11985 SL 11855

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