Technical Outlook

TRADING STRATEGY :
SELL DHANIYA NOV BELOW 11900 TGTS 11870,11820 SL 11950
BUY GUARGUM NOV ABOVE 15850 TGTS 15900,16000 SL 15740
SELL CASTORSEED NOV BELOW 4480 TGTS 4450,4400 SL 4530
SELL TMC NOV BELOW 6040 TGTS 5990,5900 SL 6110

Commodities In News
 Chana prices fell by 0.45% to Rs 2873 per quintal in futures trade today
as speculators offloaded their positions amid adequate stocks following
higher supplies from producing regions in the spot markets. Chana
prices for delivery in November fell 0.45%, to Rs 2,873 per quintal
with an open interest of 105230 lots. Similarly, the commodity for
delivery in November traded lower by 0.45%, to Rs 2,873 per quintal
in 1,08,480 lots. It is assume offloading of positions by speculators,
triggered by increased supplies from producing regions in the physical
market against subdued demand, kept pressure on Chana prices in
futures trade.
 Selling intensified in mustard seed futures on the account of new
Soyabean supplies in local mandies along with anticipation of strong
mustard seed sowing during the rabi season. The NCDEX futures
declined by 0.16 percent today. The market sources stated that fresh
arrivals of around 2.80-3 lakh bags of Soyabean have been reported in
the major producing states such as Madhya Pradesh and Maharashtra.
The sources added that new supplies of Soyabean are likely to gain
momentum in the near term due to fresh supplies from other producing
states such as Rajasthan. Thus, strong supplies of new Soyabean will
maintain bearish trend among all the oilseeds including mustard seed.
 Coriander prices fell by 1.69 per cent on Monday at the NCDEX as the
adequate stocks availability in the physical market put pressure on
coriander prices. At the NCDEX, coriander futures for November 2014
contract were trading at Rs. 11,929 per quintal, down by 1.69 per cent,
after opening at Rs. 12065 against the previous closing price of Rs.
12,134. It touched the intra-day low of Rs. 11,912 till the trading.
Sentiment weakened further as speculators reduced their positions on
the back of sluggish demand in the market

ECONOMIC NEWS
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The country's overall rice production is unlikely to slip
below the level of 100 million tonnes this year despite some
impact on the kharif crop in few states due to rains
following 'Hudhud' cyclone, a top government official said.
Rice production stood at a record 106.54 million tonnes in
the 2013-14 crop year (July-June). The government is
aiming to achieve 106 million tonnes this year. Currently,
the kharif (summer) rice is ready for harvest. "Overall rice
production will definitely be below last year's level but it
should not fall below 100 million tonnes,"Agriculture
Secretary Ashish Bahuguna told PTI. The kharif rice
contributes more than 80 per cent of the total rice
production. The government has projected lower kharif
output of 88.02 million tonnes for this year taking into
account the deficient monsoon rains. Now that the kharif
crop is ready for harvest, the recent cyclone 'Hudhud' has
affected the crop not only in Andhra Pradesh but also in
other states, resulting in possible further drop in overall rice
production. Asked about impact of cyclone on kharif rice
crop, Rainfall due to cyclone in some places will boost
prospects of late sown crop, while in some places it will
damage the crop. "However, we are yet to make the
assessment. We expect we will make up from improved
yields," he said, The US Department of Agriculture (USDA)
has also pegged India's rice production this year to be at 100
million tonnes, which includes 87 million tonnes of kharif
rice and 13 million tonnes of rabi rice. "Continued deficient
rains and 'normal' cyclones in eastern coast during
October/November could further affect the harvest of kharif
rice and planting prospects for the upcoming rabi rice," the
USDA had said in its latest report.
National & International Market Updates
Pulses market noticed range-bound to weak movement. Domestic cash
markets witnessed thin trading activities on Diwali festivities. At JNPT, 2
containers of Chana dall, 6 containers of Chana, 5 containers of green peas,
13 containers of yellow pea and 100 containers of tur whole arrived
Oct.20,2014.Delhi State Food and Supplies Department has imposed the
pulses stock limit of 2000 quintals for wholesalers and 50 quintals for
retailers. Indian farmers may sow higher masoor area on relatively better
returns from other crops. At JNPT, 168 containers of tur, 16 containers of
masoor, 13 containers of green pea, 39 containers of Chana arrived on
Oct.17,2014.The exemption of stock limit on imported pulses extended till
September 30, 2015 The exemption of Customs Duty on imported pulses
extended till December 31st, 2014 for Garbanzos and till March 31st, 2015
for other Pulses. According to Ministry of Agriculture, around 102.34 lakh
hectare of area has been sown under pulses (Kharif) this year as on October
10, around 6.17% lower than the previous year, when it was 109.08 lakh
hectares during the same period. For the country as a whole, cumulative
rainfall during this year’s monsoon has till September 30, 2014 has been
12% below the Long Period Average (LPA). The actual rainfall recorded at
777.5 mm against the 886.9 mm of normal rainfall.
Myanmar Launch Pulses Future Trading on Trial-Myanmar looks to
develop a future market for pulses to allows buyers and sellers to lock in a
price and reduce the risk of price fluctuations. The merchants at
Bayinnaung market in Yangon, the country's largest commodities exchange
centre, began a one-month trial for futures trades October 9. There are a
number of rules in place, such as requirement for buyers to make a 10
percent payment up front and sellers to provide 10pc of the goods on the
day the futures contract is sold, with the rest of the payment and goods
coming on the delivery day-The Myanmar Times.
SUGAR PRICES AT KEY SPOT MARKET
CENTER
20-Oct-14
18-Oct-14
%Change
DELHI
35
35
UNCH
AMRAVATI
400
1500
-1100
AKOLA
300

300
UNCH
INDORE
600
800
-200
VIJAYWADA
I
NA

1000
-



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