Monday, September 08, 2014
Market Overview
Soybean futures fell on Friday to their lowest
level in more than a year due to a drop in soy
meal exports, while Soyoil eased following losses
in rival Malaysian palm oil.
Indian soy meal exports plummeted in August
and are expected to remain weak until the year-
end when the new crop arrives, as poor supplies
and high prices of the animal feed drive
traditional buyers away from the leading Asian
supplier. Oilseeds and Soyoil futures are likely to
edge up in today’s trading session.
Chana extended losses on sluggish demand in
spot markets and on hopes of bumper
production of the winter-sown crop due to heavy
rainfall in the top producing state of Madhya
Pradesh.
Guar seed fell on profit-taking after rising 8.1
percent in the previous two sessions, though an
improvement in export demand for guar gum
restricted the downside.
Commodity
Chana
Turmeric
Jeera
Soyabean
Soyoil
R M Seed
CPO
Sugar
Wheat
Mentha Oil
Castor Seed
Exchange
NCDEX
NCDEX
NCDEX
NCDEX
NCDEX
NCDEX
MCX
NCDEX
NCDEX
MCX
NCDEX
Expiry
Sept
Sept
Sept
October
Sept
Sept
Sept
Sept
Sept
Sept
Sept
Price
2727
6380
10945
3158
610.6
3560
434.8
3009
1560
664.6
4042
%
Change
-1.12%
-1.54%
0.00%
-2.08%
1.13%
-0.50%
-0.28%
0.20%
0.32%
-1.35%
-0.22%
Chart of the Day: Castor seed
Sugar edged up on an improvement in demand
due to festivals, though a drop in global prices
capped the upside. In the next few weeks, India
will celebrate the festivals of Dussehra and
Diwali, a time when sugar demand goes up.
Turmeric extended losses on hopes of higher
production due to good rainfall in key growing
areas. Jeera ended flat as an improvement in
demand offset prospects of higher output due to
good rainfall in the top producing Gujarat state.
NCDEX Castor Seed is in pullback mode from its
low of 3977 and looks to continue the same for the
day. Immediate resistance is at 4125 and
sustained breach above could extend upside.
Intraday buying is advisable, but downside could
resume if it breaches below 3977.
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Please refer to disclaimer at the end of the report.

Level Playing Sheet
Commodity
Exch.
NCDEX
NCDEX
NCDEX
NCDEX
NCDEX
NCDEX
MCX
NCDEX
NCDEX
MCX
NCDEX
NCDEX
Expiry
Sept
Sept
Sept
Oct
Sept
Sept
Sept
Sept
Sept
Sept
Sept
Sept
Close
10945
6380
2727.0
3158
611
3560
434.8
3009
1560
665
4042.0
11658
S2
10852
6277
2701
3092
598.0
3525
426.7
2989.0
1525
655
4005
11532.7
S1
10898
6329
2714
3125
604.3
3543
430.8
2999.0
1543
660
4024
11595.3
Pivot
10962
6407
2734
3175
608.6
3557
433.6
3010.0
1551
668
4040
11677.7
R1
11008
6459
2747
3208
614.9
3575
437.7
3020.0
1569
673
4059
11740.3
R2
11072
6537
2767
3258
619.2
3589
440.5
3031.0
1577
682
4075
11822.7
Trend
Bearish
Bearish
Bearish
Bearish
Flat
Bullish
Bearish
Flat
Flat
Bearish
Bearish
Bearish
Conviction
Moderate
Moderate
Moderate
Moderate
Moderate
Moderate
Moderate
Moderate
Moderate
Moderate
Moderate
Moderate
Intraday
Range
10930 - 11040
6303 - 6433
2708 - 2741
3109 - 3192
606.5 - 617.1
3534 - 3566
432 - 439
2994 - 3015
1547 - 1573
657 - 671
4015 - 4050
11564 - 11709
Jeera
Turmeric
Chana
Soybean
Soyoil
R M Seed
CPO
Sugar
Wheat
Mentha Oil
Castor
Seed
Coriander
For any details contact:
Commodities Advisory Desk - +91 22 3958 3600
commoditiesresearch@motilaloswal.com
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