Agri Commodity Update (14th January 2020)
14/1/2020

Agri Commodity Update (14th January 2020)

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Fundamental Aspect:

The USDA says the U.S. 2019 average soybean yield ended at 47.4 bushels per acre vs. the trade’s expectations of 46.6 bushels per acre and December’s estimate of 46.9 bushels per acre.The 2019 U.S. soybean production totaled 3.558 billion bushels vs. the trade’s expectations of 3.51 billion bushels and the USDA’s December estimate of 3.55 billion.

In 2018, the U.S. farmers grew a soybean crop totalling 4.428 billion bushels.

Source: agriculture.com


Technical Aspect


Dhaniya (April)

Dhaniya has its support at 6900 and resistance 7150.

Break and sustain below 6900 will see a fall till 6750---6600 levels or else it can touch its support level of 7150 again.

Sell it on rise!


Guarseed (February)

Guarseed has its support at 4130 and resistance is seen at 4180.

Break and sustain below 4130 will see a rise till 4080---4030 levels or else it can touch its support level of 4180 again.

Sell it on rise!

Trade with levels only.


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Tags:Agri Commodity

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