Daily Agri Commodity Trading Market News By Epic Research Pvt. Ltd. - 03rd Sep 2014

AGRI COMMODITY DAILY WRAP UP

BARLEY FUTURE

Barley prices improved by Rs 18 to Rs 1,495 per quintal in futures trading as

speculators enlarged positions, tracking low-level buying in spot markets. Be-

sides emergence of low-level demand in the spot markets, restricted supplies

from growing regions, mainly supported the uptrend in future markets.

CASTOR SEED FUTURE

Castor seed cash and futures continued to trade lower even on Tuesday and more dip is expected in the days ahead. Slackness in demand, higher area cov- erage and good crop condition at this point of time weigh on market fundamentals. Bears operators are active in futures. There is no support for any up trend currently. Area coverage till 30th August has been registered at 7.98 lakh ha., higher than last year (5.90 lakh ha.) till date

CHANA FUTURE

Chana prices fell 1.61 per quintal in futures trade today after speculators

trimmed positions, triggered by increased supplies from producing regions in

the spot markets. At the National Commodity and Derivative Exchange, Market analysts attributed the fall in chana futures to increased supplies from producing regions in the physical market against subdued demand from dal mills .

CORIANDER FUTURE

Coriander prices adequate stocks availability in the physical market put pres-

sure on coriander prices. Sentiment weakened further as speculators reduced

their positions on the back of sluggish demand in the market.

NATION MARKET REPORT

Market sentiments traded between firmer to normal zone with price trending up for Monday. Tenders are invited by KAITHAL CO-OPERATIVE SUGAR MILLS LIMITED for sugar handling contract for crushing season 2014-15. Opening date for tenders has been fixed at 10th Sep, 2014. In an attempt to increase sugar production in Thailand, govt. is planning to expand the area under cane cultivation by allocating more state-owned land towards the crop and suggesting a crop switch to the farmers. The plan is also expected to boost sugar production by approximately 1 million tons for cropping season 2015-16. Three new variety sugar cane seed Co0403, Co06027, and Co06030 had been developed by the Sugarcane Breeding Institute Coimbatore to enhance cane productivity in the area. Gur prices witness artificial firmness at present and likely move down in the coming days due to good stock availability in the Maharashtra markets. It is notable that cane has diverted more towards gur production in Pune and Sangli area this year. In addition to it, market participants is expecting early arrivals of gur for the next marketing year which drive the prices southwards in the medium term.

INTERNATION MARKET REPORT

• Brazilian cane production estimate for center-south region declined 6% from 580 million tons to 546 million tons for 2014-15. Fluctuating weather condition coupled with lengthening of intra-harvest period could be cited responsible for The change in estimation.

• Total around 604000 bags of gur stored in cold storages till 25th August 2014 lower compared to 649000 bags at same period last year. Gur prices witness .

• artificial firmness at present and likely move down in the coming days due to good tock availability in the Maharashtra markets..Sugar prices are trading up due to strong market demand outlook in the country. In addition, upcoming festivel demand is also likely to increase sugar prices in the medium term as expected. It is notable that can has diverted more towards gur production in Pune and Sangli area this year.

DHANIYA

BUY DHANIYA (OCT) ABOVE 11980 TGT 12010-12060 SL 11930

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