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Please refer to disclaimer at the end of the report.
Commodity Exchange Expiry Price %
Change
Turmeric NCDEX May 6866.0 1.4%
Jeera NCDEX Mar 17485.0 -0.3%
Soybean NCDEX Feb 3159.0 -0.5%
Soy Oil NCDEX Feb 725.2 -0.2%
R M Seed NCDEX Apr 3935.0 -0.2%
CPO MCX Feb 585.6 -0.5%
Sugar NCDEX May 3862.0 -0.1%
Wheat NCDEX Feb 1859.0 -1.0%
Mentha Oil MCX Feb 1037.4 0.7%
Cotton MCX Feb 20350.0 0.7%
Market Overview
� Government announced that there is no requirement
to cut import duty on sugar, as supplies are
comfortable this season. However, the government is
keeping close watch on prices and may take some
action if sugar prices rise further. The food ministry
official dismissed any concern about supplies this year
and reported that supplies were comfortable and sugar
production in 2017-18 was likely to be bumper.
� Solvent Extractors' Association of India expects
Soymeal exports over 2 mln tn during 2016-17 (Nov-
Oct) oil year, due to bumper domestic harvest and a
rise in prices in global markets. Association has raised
its estimate for soybean output to 11 mln tn in 2016-17
(Jul-Jun) from its previous forecast of 10.6 mln tn.
� Government is targeting to procure 9 mln tn of wheat
in Madhya Pradesh in year that starts April. The
government had procured 4 mln tn of food grain in
state in 2016-17 (Apr-Mar). Higher procurement of
food grain in state can be attributed to estimates of
record high production this year. The state is likely to
produce 21 mln tn of wheat in 2016-17 (Jul-Jun), all-
time high, owing to rise in acreage and supportive
weather conditions.
� Vietnam is likely to become major export destination
for Indian cotton as huge inflow of foreign investments
in the country's textile sector, following series of Free
Trade Agreements including Trans-Pacific Partnership,
has led increased demand for commodity. Vietnam has
imported around 5.0 mln bales of cotton so far in 2016-
17, compared to 4.5 mln bales a year ago, according to
US Department of Agriculture report.
� Malaysian palm oil futures fell for second consecutive
session, hit by weaker U.S. soyoil, forecasting further
range-bound trading, and pending new leads. U.S.
wheat futures fell nearly 2% on profit-taking and
expectations of slowing export demand in wake of this
week's rally to multi-month highs.
Chart of the Day: NCDEX RM Seed
�� As shown, NCDEX RMSeed is consolidating in a narrow
range of Rs.3900 – 3975 and either side sustained breach
would be a good trading opportunity. Looking at short-
term trend and volume properties, upside breakout is
expected. Buying above Rs.3975 is advised with a potential
target of Rs.4000 / 4040.
��
Friday, January 20, 2017
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Level Playing Sheet
Commodity Exch. Expiry Close S2 S1 Pivot R1 R2 Trend Conviction Intraday Range
Jeera NCDEX Mar 17485 17235 17360 17480 17605 17725 Bullish Moderate 17298 - 17543
Soybean NCDEX Feb 3159 3124 3141 3173 3190 3222 Bullish Moderate 3133 - 3182
Soy Oil NCDEX Feb 725 721.1 723.1 725.3 727.3 729.4 Bearish Moderate 722.1 - 726.3
R M Seed NCDEX Apr 3935 3875 3905 3930 3960 3985 Strong Low 3918 - 3973
CPO MCX Feb 585.6 581.7 583.6 586.3 588.2 590.9 Bullish Moderate 583 - 587
Sugar NCDEX May 3862 3862 3862 3862 3862 3862 Bearish Moderate 3862 - 3862
Wheat NCDEX Feb 1859 1641 1750 1660 1769 1679 Bearish Moderate 1696 - 1715
Mentha Oil MCX Feb 1037 1029 1033 1036 1040 1043 Flat Moderate 1035 - 1041
Cotton MCX Feb 20350 20130.0 20240.0 20340.0 20450.0 20550.0 Bullish High 20290 - 20500
Coriander NCDEX Jan 7293 7244.3 7268.7 7304.3 7328.7 7364.3 Bearish Moderate 7257 - 7317
For any details contact: Commodities Advisory Desk +91 22 3958 3600 [email protected]
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