Agro Commodity Update 13th - April-2018


Fundamental Aspect:

Soybean future prices traded dull with positive bias as the market participants initiated fresh buying. The Ministry of Commerce & Industry is taking up the issue with China to remove restrictions on Indian soymeal trade. Moreover, prices have been supported by expectation of increase crushing in coming weeks on development that government allowed export of all edible oils in bulk. As per the trader source, the arrivals in the physical market have been noted lower in March at 2.32 lt as compared with the 3.16 lt marked last year for same period. According to trade body, SOPA cuts soybean production by nearly 10 lt to 83.5 lt for 2017-18 crop.

Turmeric futures prices surged sharply higher tracking good physical demand from lower levels. In past couple of month, prices corrected almost 20% in the current calendar due to arrival pressure of new season crop and lower export demand. Supplies from the new season turmeric have been higher during March at 83,242 tonnes compared to 76,292 tonnes last year, as per the trader source. The export of turmeric is down by 14.6% to 88,144 tonnes for the first 10 month of FY 2017-18 as compared with the last years’ exports.

Technical Aspect (May)

Guar seed

Image result for guar seed images

Support seen at 4000 and Resistance is 4200

Buy and accumulate as we expect positive move in coming session. Above 4200 will see more power in it.

Support and stop loss will remain at 4000.

Trade with levels only.


Image result for chana  seed images

Our sell call from 3750—3705 has proven great

Now what to expect?

Panic likely to continue. Support is 3670. Weekly close below 3670 will take it to 3610—3550 mark.


Fresh buying only can be seen on close above 3850. 

Trade with levels only.


Image result for dhaniya  seed images

Support is 5150 and Resistance 5300

Weekly close above 5300 will take it to 5550—5700 mark else could touch its support level of 5150 mark.

Fresh selling can be seen on close below 5150.

Trade with levels only.


Image result for jeeraseed images

Support is 15300 and Resistance is 15750

Rally likely to continue. Above 15750 will take it to 16200—16450 mark. 

Fresh selling only can be seen on close below 15300.

Trade with levels only.


Image result for soybean seed images

Support is 3800 and Resistance is 3880

Above 3880 will take it to 3950—4000++ mark else could touch its support of 3800.

Fresh selling can be seen on close below 3800.

Trade with levels only.

Castor Seed

Image result for castor  seed images

Support at 4130 and Resistance at 4200

Above 4200 will take it to 4270—4350 mark else could touch its support level of 4130 mark.


Fresh selling only can be seen on close below 4130.

Trade with levels only.

Soy Refined 

Image result for soyarefine  images

Support is 773 and Resistance is 780.

Panic continues the chart. Below 773 we expect downside till 767--764 mark else could touch its resistance level of 778.

Fresh buying can be seen on close above 780.

Trade with levels only.

CPO (April) 

Image result for cpo oil   images

Support seen at 640 while Resistance is 647.

Below 640 we expect more panic till 634—632 mark else it could touch its resistance level of 647.

Fresh buying can be seen on close above 647 mark. 

Trade with levels only

Mentha Oil (April)

Image result for mentha oil images

Support is 1405 and Resistance is 1460--1475

Trading in a range. Either side break and close will set the further trend in it.

Trade with levels only.


Tags:Agri Commodity

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