FREE AGRI COMMODITY MARKET NEWS & LEVELS - 07 JUNE 2017

Turmeric June futures surged up on Tuesday (5:00pm) at India's National Commodity & Derivatives Exchange (NCDEX). Turmeric is increased by 2.52% to 5454 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: BULLISH 
RESISTANCE 2: 5670 
RESISTANCE 1: 5560 
SUPPORT 1: 5310 
SUPPORT 2: 5180 
STRATEGY: BUY ON DIPS

The NCDEX Soyabean June futures surge up by 0.71% in the last trading to close at 2693 level till Tuesday 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: SIDEWAYS 
RESISTANCE 2:2760 
RESISTANCE 1:2720 
SUPPORT 1: 2660 
SUPPORT 2: 2630 
STRATEGY: BUY ON DIPS

The NCDEX Guarseed June futures decreased by -0.73% in the last trading to close at 3247 level till Tuesday 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: 3390 
RESISTANCE 1: 3320 
SUPPORT 1: 3200 
SUPPORT 2: 3160 
STRATEGY: SELL ON RISE

The NCDEX Dhaniya June futures Slipped by -0.17% in the last trading to close at 4628 level on Tuesday. 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: 4920 
RESISTANCE 1: 4770 
SUPPORT 1: 4530 
SUPPORT 2: 4440 
STRATEGY: SELL ON RISE

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