Daily Agri Commodity Trading Market News By Epic Research Pvt. Ltd. - 05th Sep 2014

AGRI COMMODITY DAILY WRAP UP

MAIZE FUTURE
Maize futures ended lower at NCDEX. Higher global supplies and weak off takes
from the local buyers pushed Maize prices down by 1.2% to settle at Rs1099 levels.
Sentiment weakened further as a result of a decline in the demand for the commodity from bio-fuel making industries tracking the weak global markets. Maize September contract is likely to trade on a bearish trend. India Corn(Maize) export scenario is drawing a bleak picture as overseas buyers prefer the much cheaper Corn
from US and South America. A drop in export is likely for the year 2014-15. The
sowing of the crop also has been hit by a delayed Monsoon. Compared to South
American Corn Indian corn is expensive by around $40 per tonne .

CASTORSEED NEWS
Castorseed prices fell by0.54 per cent on Thursday at the National Commodity &
Derivatives Exchange Limited as a result of fresh supply of the commodity in the
major mandies as well as strong production estimates. At the NCDEX, after opening
at Rs. 4,065 against the previous closing price of Rs. 4,065.It touched the intra-day
low of Rs. 4,018 till the trading. Castor oil, extracted from castor seed is the largest
vegetable oil exported out of India. India is the biggest exporter of castor oil holding
.

NATION MARKET REPORT
Castor seed and its products continued to reel under pressure due to offloading of
 seed by stockiest and release of stock in futures contact on bearish outlook. Pres
 sure started building up with increasing coverage area that has reached now at
 7.81 lakh ha. The normal area coverage for the whole year is 10.37 lakh ha.However this year area is likely to increase by 10 percent under normal condition. Seed price should stabilize near Rs 3850-3900 per qtl. in the weeks ahead.?
 Area coverage till 30th August has been registered at 7.98 lakh ha., higher than
 last year (5.90 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. Almost 70 percent of normal area has
 been covered so far .

Castor seed x-mandi price in Gujarat has declined from Rs 42000 per tonne to Rs
 41500 per tonne on Monday. Market is expected to face short supply of seed in
 Nov. Out of 15.8 lakh tonne seed available for crushing almost 9.2 lakh tonne
 seed has been crushed so far. Around 3 lakh tonne seed is available with big players who would prefer releasing seed in parts or may retain it for three –four
 months from now. Govt has released fourth adv. Estimate of food grains for 2013-
 14 on 14, August, 2014. The govt. has estimated 16.89 lakh tonne production this
 year against the target of 15.81 lakh tonne. Govt. Production target for 2014-15
 has been set at 16.65 lakh tonne .

INTERNATION MARKET REPORT
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 decreased slightly by $1 to $107 per tonne today.?
 However, price of castor oil in Rotterdam too has decreased from $1729 to $1720
 per metric tonne during last one week. Buyers like EU, USA and China remain
 sidelined
.

DHANIYA
BUY DHANIYA (OCT) ABOVE 12040 TGT 12070-12120 SL 11990
 

CASTORSEED
SELL CASTORSEED (OCT) BELOW 4165 TGT 4035-3985 SL 4105

TURMERIC
SELL TERMERIC (OCT) BELOW 6600 TGT 6550-6450 SL 6690

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