weekly-agri-report by epic research 11.02.13
TRANSCRIPT
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7/29/2019 Weekly-Agri-report by EPIC RESEARCH 11.02.13
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WEEKLY AGRI REPORT
11
TH
FEBRUARY 2013
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HEADLINES
U.S. Soybean Inventory Estimate Cut on Rising
Global Demand.
U.S. soybean supplies before the next harvest will be 7.4
percent smaller than forecast a month ago and the smal
since 2004 on rising demand for lastyears drought-
reduced crop, the government said.
Stockpiles on Aug. 31 will fall to 125 million bushels (3.4
million metric tons), down from 135 million estimated i
January and 169 million a year earlier, the U.S.
Department of Agriculture said today in a report. The
average estimate of 31 analysts surveyed by Bloomberg
News was 130 million. Soybean prices have dropped 17
percent since a record in September as South American
farmers planted more for a harvest just getting under wa
This is a signal to the market that prices are not high
enough to slow demand for tightening supplies in the
U.S., James Gerlach, the president of A/C Trading Co.
Fowler, Indiana, said before the report. Its going to be
very tough to buy supplies in the U.S. this summer.
EXPERT OPINION
STOCK S1 S2 R1 R2
CHANA 4244 4075 4489 4622
RM SEED 3772 3598 4018 4159
SOYABEAN 3093 2955 3391 3562
JEERA 13558 13239 14233 14569
TRADING TIP:
Buy Turmeric Apr
Above 6250
TGTS-6250/6270
SL-6050
Buy Chana Oct
Above 4395
TGTS- 4435/4480
SL- 3942
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PRODUCT
NAME
EXP DATE OPEN HIGH LOW CLOSE LTP CHG PERCENTAGE
CHANGE
CHANA 7/19/2012 4556 4573 4525 4560 4532 -28 -0.61
CHILLI 7/19/2012 5060 5060 5018 5120 5018 -102 -1.99
GUR 7/19/2012 1188 1188 1178 1183.5 1178 -5.5 -0.46
JEERA 7/19/2012 14955 14960 14650 15052.5 14800 -252.5 -1.68
KAPAS 7/19/2012 1044 1053 1035 1049 1041 -8 -0.76
PEPPER 7/19/2012 42300 42555 42250 42390 42435 45 0.11
REF SOYA 7/19/2012 780.5 783.6 777.4 782.85 781.3 -1.55 -0.2
SOY BEAN 7/19/2012 4309 4330 4265.5 4303 4315 12 0.28
TURMERIC 7/19/2012 4600 4676 4518 4664 4540 -124 -2.66
WHEAT 7/19/2012 1251 1282 1251 1246 1282 36 2.89
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WEEKLY MARKET ANALYSIS
Pepper
Pepper prices has witnessed buying at lower levels. Prices are currently near the crucial
technical level of Rs. 43000. Fundamental scenario continues to be strong on the back of
lower availability till the new crop. Lower stocks in the exchange warehouse can support the
bulls. Indian pepper is out priced in the international market. Lack of rains and lower water
storage in Karnataka can also support prices. Around 449MT will expire in October contract.
Chilli
Chilli prices is expected to trade weak during the session. Demand is said to be stable in
the spot market. Around 938MT will expire in October contract can cap the upside in
prices. Chilli sowing is 16.5% lower compared to last year and 22.5% lower compared to
normal season.
Turmeric
Turmeric prices are expected to trade weak as futures continue to trade at a high
premium compared to the spot market. Lack of export and domestic demand will keep
prices under check in the spot mandi. Sowing of turmeric has started in Andhra Pradesh
one of the key producers is 17.5% lower compare to last year and 17.8% lower compared
to the normal season. Around 1665MT will expire in October contract.
Jeera
Jeera prices are expected to trade weak on fresh selling on the futures counter. Selling at
higher levels is expected in the coming session. For the session we expect prices trade
weak. FED stocks in NCDEX of around 1392MT in October contract can cap the major
upside move in price.
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WEEKLY SOYABEAN CHART
ANALYSIS
OPEN: 3270
HIGH: 3309
LOW: 3228
CLOSE: 3240
SOYABEAN LOOKS DOWNWARD
TREND: BEARISH
STRATEGY: SELL ON RISE
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WEEKLY CHANA CHART
ANALYSIS
OPEN: 3512
HIGH: 3536
LOW: 3409
CLOSE: 3470
CHANA LOOKS SIDEWAYS
TREND: CONSOLIDATE
STRATEGY: BUY ON DIPS
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