Thursday, December 15, 2016
Market Overview
India Pulses and Grain Association (IPGA) have urged
government to withdraw restrictions on stockholding
by traders and millers, to ensure smooth supply of
pulses in domestic market. IPGA representation also
asked for the government to invite private sector
participation in creating modern storage infrastructure
for pulses.
Solvent Extractors Association (SEA) reported that Palm
oil imports fell by 8.27% to 8,01,311 tonnes in
November, on expected bumper oilseeds crop and
better domestic edible oils supply.
Import of soyabean oil declined to 1,64,286 tonnes in
November from 2,56,836 tonnes while rapeseed oil
shipments stood at 32,195 tonnes.
Mentha oil prices strengthened expanding positions by
participants owing to strong demand from consuming
industries in the spot market against tight stocks
position on fall in supplies from Chandausi in Uttar
Pradesh, mainly kept mentha oil prices higher.
Indian cotton industry has estimated Pakistan to
import 700,000-800,000 bales in 2016-17. Last year,
India had exported 2.5 million bales to Pakistan but
Jeera sowing area likely to increase in Gujarat state.
Around 35 – 45% area may increase this year, some
new area also come up to Jeera crop in this region due
to increase in irrigation facility.
Malaysian palm oil futures rose after closely watched
output and export data released during the midday
break supported bullish sentiment.
U.S. soybean futures fell to a three-week low forecasts
for rain in dry areas of Argentina's crop belt took out
some of the weather premium built into the market.
Commodity
Turmeric
Jeera
Soybean
Soy Oil
R M Seed
CPO
Sugar
Wheat
Mentha Oil
Cotton
Exchange
NCDEX
NCDEX
NCDEX
NCDEX
NCDEX
MCX
NCDEX
NCDEX
MCX
MCX
Expiry
Dec
Dec
Dec
Dec
Dec
Dec
Dec
Dec
Dec
Dec
Price
7190.0
17625.0
3090.0
724.0
4572.0
564.3
3681.0
2024.0
1006.8
19070.0
%
Change
0.0%
-0.4%
0.7%
0.6%
-0.5%
0.4%
0.7%
0.4%
0.3%
0.6%
s
Chart of the Day: NCDEX Soybean
Short-covering was seen in NCDEX Soybean in the previous
session, but overall bias looks sideways-to-negative as long
as 3160 is capped as strong resistance area. The counter
could test 2925 in short-term. Selling on rise is still
advised, but our bias will negate if price break and sustain
above resistance levels.
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Please refer to disclaimer at the end of the report.

Level Playing Sheet
Commodity
Exch.
NCDEX
NCDEX
NCDEX
NCDEX
MCX
NCDEX
NCDEX
MCX
MCX
NCDEX
Expiry
Apr
Jan
Jan
Jan
Jan
Dec
Mar
Jan
Dec
Dec
Close
17625
3090
724
4572
564.3
3681
2024
1007
19070
7743
S2
17422
3045
718.7
4517
559.8
3587
1696
983
18850.0
7721.0
S1
17523
3068
721.3
4545
562.1
3634
1860
995
18960.0
7732.0
Pivot
17667
3083
723.3
4592
565.2
3672
1715
1011
19050.0
7751.0
R1
17768
3106
726.0
4620
567.5
3719
1879
1023
19160.0
7762.0
R2
17912
3121
728.0
4667
570.6
3757
1734
1039
19250.0
7781.0
Trend
Flat
Flat
Bullish
Bearish
Bullish
Bullish
Flat
Bullish
Flat
Bearish
Conviction
Moderate
Moderate
High
Moderate
High
High
Moderate
High
Moderate
Moderate
Intraday
Range
17473 - 17718
3076 - 3114
722.3 - 727
4531 - 4606
564 - 569
3653 - 3738
1788 - 1807
989 - 1017
19005 - 19205
7727 - 7757
Jeera
Soybean
Soy Oil
R M Seed
CPO
Sugar
Wheat
Mentha Oil
Cotton
Coriander
For any details contact:
Commodities Advisory Desk - +91 22 3958 3600
commoditiesresearch@motilaloswal.com
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