FREE AGRI COMMODITY MARKET NEWS & LEVELS - 05 JUNE 2017

Turmeric June futures slipped on Friday (5:00pm) at India's National Commodity & Derivatives Exchange (NCDEX). Turmeric is decreased by -0.45% to 5306 level at NCDEX. Turmeric rates found strong support at these lower levels. But monsoon arrival reports are preventing any strong uptrend. With rates at very low levels, further downtrend may be limited. However favorable monsoon reports amidst high stocks and lack of strong demand kept the uptrend limited. With sowing starting in June, early arrivals and better prospects for rains could be good for the crop sowing. As of now trend looks weak. Exports are however expected to recover for the new crop at these lower levels as arrivals slow down.
CS TURMERIC (JUNE) OVERVIEW: 
TREND: SIDEWAYS 
RESISTANCE 2: 5450 
RESISTANCE 1: 5380 
SUPPORT 1: 5250 
SUPPORT 2: 5150 
STRATEGY: SELL ON RISE

The NCDEX Soyabean June futures decreased by -1.77% in the last trading to close at 2669 level till Friday closing. Under given scenario, the upside movement of soybean will be limited this week because of lack of strong export demand for soymeal and a comfortable world wide supply situation. Talks of sufficient amount of inventory lying with stockists and reports of timely onset of soybean will be seen as other bearish price drivers. But shorts covering may be seen today in case June soybean manages to close above 2720.
CS SOYABEAN (JUNE) OVERVIEW: 
TREND: BEARISH 
RESISTANCE 2:2780 
RESISTANCE 1:2700 
SUPPORT 1: 2620 
SUPPORT 2: 2540 
STRATEGY: SELL ON RISE

The NCDEX Guarseed June futures decreased by -2.21% in the last trading to close at 3276 level till Friday closing. Markets Monsoon arrival report before time continued to keep pressure on Guar rates even at these lower levels. Rains would be beneficial for the new crop sowing from next month. As monsoon reports remain favorable, some more short term dips are not ruled out. Trend would remain very volatile however. Pre-monsoon showers are likely to have good impact on crop sowing starting June. 
CS GUARSEED (JUNE) OVERVIEW : 
TREND: BEARISH 
RESISTANCE 2: 3460 
RESISTANCE 1: 3360 
SUPPORT 1: 3220 
SUPPORT 2: 3160 
STRATEGY: SELL ON RISE

The NCDEX Dhaniya June futures Slipped by -1.79% in the last trading to close at 4620 level on Friday. After a 1-sided increase in the beginning of apl, there is a huge decline in the coriander's market. on the commodity exchange NCDEX the price of coriander has dropped has by around 1,500 RPs in a month. in the beginning of April, coriander price for near future trading on NCDEX 7900 per quintal, but now the price has come down to RS 6450. in march , the price of coriander touched a low of RS 6410. Which was lowest price in about 13 months. There has been pressure of coriander due year ending stock and week export demand. however this year's production is being reported less last year. Price have not able to keep pace with heavy stock.
CS DHANIYA (JUNE) OVERVIEW: 
TREND: BEARISH 
RESISTANCE 2: 4850 
RESISTANCE 1: 4730 
SUPPORT 1: 4550 
SUPPORT 2: 4450 
STRATEGY: SELL ON RISE 

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