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Epic Research Weekly Agri Commodity Report 25 SEPTEMBER 2017

PressReleasePing - September 25, 2017 -Commodity News Soybean futures edged up on NCDEX as participants created huge positions on the back of firming trend in the global market. The contract for October delivery was trading at Rs 3125.00, up by 0.84% or Rs 26.00 from its previous closing of Rs 3099.00. The open interest of the contract stood at 44190 lots. The contract for November delivery was trading at Rs 3147.00, up by 0.87% or Rs 27.00 from its previous closing of Rs 3120.00. The open interest of the contract stood at 57530 lots on NCDEX. Coriander futures edged lower on NCDEX as speculators cut down their bets, tracking easing demand in the spot market. Besides, adequate stocks position on increased supplies from major producing regions also weighed on coriander futures. The contract for October delivery was trading at Rs 4737.00, down by 0.78% or Rs 37.00 from its previous closing of Rs 4774.00. The open interest of the contract stood at 32010 lots. The contract for November delivery was trading at Rs 4998.00, down 0.56% or Rs 28.00 from its previous closing of Rs 5026.00. The open interest of the contract stood at 12160 lots on NCDEX. Jeera futures edged down on NCDEX on easing demand from retailers and stockists at the spot market. Besides, ample stocks position following higher supplies from the producing regions too fueled the downtrend. The contract for October delivery was trading at Rs 19640.00, down by 0.08% or Rs 15.00 from its previous closing of Rs 19655.00. The open interest of the contract stood at 12903 lots. The contract for November delivery was trading at Rs 19590.00, down 0.23% or Rs 45.00 from its previous closing of Rs 19635.00. The open interest of the contract stood at 3147 lots on NCDEX. Economic News Crop stubble burning, which last year raised air pollution to alarming levels in Delhi, is likely to be lower this year because of higher sale of machines that mechanically remove remnants of the harvest. However, many farmers are still continuing with the old practice. Officials estimate that crop stubble burning and the consequent air pollution would be 10-15% lower this year because of the government’s drive against the practice. The government’s drive has increased demand for mechanisation to manage paddy stubble in Punjab and Haryana. The Haryana agriculture department is flooded with requests for grants to buy straw management machinery. The sales of rotavators, zero tillers, hydraulic ploughs, bailers, mulching machines and tractors are on the rise in Punjab. “Hundreds of applications are coming from various districts,” an official of Haryana agriculture department said. “The demand will far surpass the allocations,” he maintained. Saddled with a buffer stock of 18 lakh tonnes of pulses, Food Minister Ram Vilas Paswan today said the government is trying to dispose of the dals and asked entities, including cooperative NCCF, to do the needful. He also said the government will procure pulses in the current year as well if the rates fall below the minimum support price (MSP) level. For the first time, the government had last year decided to create a buffer stock of pulses to ensure better prices to farmers and at the same time use the stock to augment local supply in times of price rise. About 20 lakh tonnes of buffer were created through local procurement and imports. "We have stock of 18 lakh tonnes of pulses. We are trying to disposing it of at the earliest as dals have short shelf- life. We have appealed many organisations like the NCCF," Paswan told reporters after the 49th AGM of the National Cooperative Consumers Federation (NCCF). Although some quantity has been sold to traders through auction, the sale has not picked up. Trading Recommendations BUY GUARGUM5 ABOVE 8050 TARGET 8150 8200 SL BELOW 7950 SELL GUARGUM5 BELOW 7850 TARGET 7750 7600 SL ABOVE 7950 BUY CORIANDER ABOVE 4950 TARGET 5050 5200 SL BELOW 4850 SELL CORIANDER BELOW 4650 TARGET 4550 4400 SL ABOVE 4750 Epic Research Limited is a supreme level financial advisory services provider firm .We have designed services for different investors as per their needs like equity tips , mcx tips, agri tips and many more to serve our clients. We offer regular services for investors with less capital and premium services for massive investors looking for higher returns on investments with bigger targets. Want to take a FREE TRIAL? Visit our site link below and become a part of our Epic family. Happy trading. http://www.epicresearch.co/ or mail us @ info@epicresearch.co Also you can Whatsapp us at :7049084664 Our Office:411 Milinda Manor, 2 RNT Road, Indore 452001 .


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