NCDEX - WEEKLY NEWS LETTERS
CHANA
• Chana futures traded range bound and ended flat on Thursday. Volumes and OI declined from previous trading day.

• Sources said that cheap imports of Chana and better than expected production continue to weigh on markets.

• Warehouse stocks improved on Thursday and continue to add pressure on the prices.

• As per the 3rd Advance estimates from Ministry of Agriculture production of Gram (Chana) is fore-casted to be 9.93 million MT in 2013-14 compared to 9.79 million MT (2nd Advance estimates) and 8.83 million MT in 2012-13. They added that total Pulses production is forecast-ed to be 19.57 (3rd Advance estimates) vs. 19.77 million MT (2nd Advance estimates) and 18.34 million MT in 2012-13.

Stock position of Chana at NCDEX approved warehouses
Location 28-May-14 27-May-14
Bikaner 50286 50145
Delhi 63719 63281
Indore 1128 1037
Total 115133 114463

Comments:-
Key support is at 2784 and 2740. Key resistances are at 2980 and 3020.


SOYABEAN & REFISOYA

Indian oilseed complex prices traded mixed yesterday. Rupee ended flat.

• Soybean prices moved higher yesterday as traders covered shorts after the recent sharp lower move in prices.

• According to 3rd Advance estimates released by GoI, India’s output for the following crops in 2013-14 year are:- Soybean- 11.95 million MT, RM Seed – 7.83 million MT.


INTERNATIONAL VIEW
• Tight supplies of old crop Soy in US was supportive. However, favorable Soy planting conditions and good progress limited gains for new crop prices.

• US Soybeans planting was 59% completed as of 25 May vs. 33% previous week vs. 5 year average of 56%.

• Area planted with Soybeans in Brazil next season should reach a record 31.2 million hectares (77.4 acres), up 4% from last year thanks to high prices for the oilseed.

Soybean Arrivals for 29 May 2014
Location MT
Khamhariya 20.00
Rajnandgaon 5.00
Momanbadodiya 7.20
Piplya 12.00
Susner 0.70
Imphal 1.40
Lamlong Bazaar 0.20
Anta 27.00
Baran 45.00
Iklera 10.00

Source - Dept. of Agriculture (GoI)

The following Future Contract are trading with high volume on NCDEX:
Soyabean - JUN. Contract
Refi. Soya - JUN Contract
Castorseed - JUN Contract
RM Seed - JUN Contract
Dhaniya - JUN Contract

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