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1 18-Jan-16

2 Item Open High Low Close % Cng OI Comments Spices Pepper Turmeric Jeera Coriander Cardamom Sugar m Cereals Wheat Maize Barley Agro Market The spices counter on the NCDEX ended with mixed node. Turmeric prices ended with more than two percent losses whereas jeera prices ended with over half percent gains while dhaniya prices settled flat. Turmeric dropped due to sluggish demand in the spot market against adequate stocks positions on higher supplies from producing belts. Jeera prices gained as the overall acreage of jeera is likely to decline by percent. Others Chana Kapas Cotton Mentha Oil Soya Bean Ref.soya oil Cpo Rmseed Castorseed DAILY MARKET LEVEL COMMODITIES CARDAMOM WHEAT MENTHA OIL CHANA TURMERIC JEERA SOYABEAN R.SOYA OIL CLOSE RESISTANCE P. POINT SUPPORT OI OI (%) SPOT MARKETS UPDATE CORIANDER SUGAR SOYABEAN CHANA TURMERIC JEERA R.SOYA OIL WHEAT RM SEED COTTON

3 SOYABEAN Soyabean trading range for the day is Soyabean prices ended with losses on profit booking after prices gained on supply worries in global market USDA also its forecast for US soybean ending stockpiles to 440 million bushels compared to 465 million bushels in the previous month. NCDEX accredited warehouses soyabean stocks dropped by 1013 tonnes to tonnes. At the Indore spot market in top producer MP, soybean gained 16 rupee to 3763 rupee per 100 kgs. SELL SOYABEAN 3820 SL 3860 TGT NCDEX Soyabean settled down -0.76% at 3764 on profit booking after prices gained on supply worries in global market and on improvement in demand from China. Speculation over lower supply from US and Brazil and higher China imports supported the bean prices. Prices of the bean were supported after United States Department of Agriculture (USDA) trimmed United States soybean production forecast and also cut its forecast for ending stockpiles, the department said in its World Agriculture Supply and Demand Estimates report. USDA maintain US, the world's biggest bean grower, production estimates to 107 million tons compared to million tons in the previous month estimates and million tons a year ago. USDA also cut its forecast for US soybean ending stockpiles to 440 million bushels compared to 465 million bushels in the previous month and 191 million bushels a year ago. Prices were also supported by speculation of lower supply from Brazil, the world's second biggest bean producer, after Brazil trimmed soybean forecast after bad weather hit important soy-producing areas in the past month, DowJones reported today citing Conab, the Brazilian public company linked to the Ministry of Agriculture. The world's second biggest soybean producer is expected to produce million tons compared to million tons estimated in December, though still a record compared with the 96.2 million tons produced in Technically market is under long liquidation as market has witnessed drop in open interest by -3.11% to settled at while prices down -29 rupee, now Soyabean is getting support at 3731 and below same could see a test of 3698 level, And resistance is now likely to be seen at 3816, a move above could see prices testing RM Seed Rmseed trading range for the day is Mustard seed prices ended with losses tracking weakness in spot demand amid profit booking. Rapeseed meal exports from India slumped 87% on year to 16,855 tons in December. NCDEX accredited warehouses mustard seed stocks dropped by 810 tonnes to 6649 tonnes. In the Alwar spot market in Rajasthan the price remains unchanged at0 rupee to rupees per 100kgs. SELL RMSEED 4160 SL 4200 TGT NCDEX Rmseed settled down -1.06% at 4105 tracking weakness in spot demand amid profit booking. Mustard seed, the main rabi oilseed crop, sowing stood at 6.27 million hectare compared to 6.48 million hectare a year ago due to weak monsoon and soil moisture. Rapeseed meal export is reduced to 1/3rd of last year. Rapeseed meal exports from India slumped 87% on year to 16,855 tons in December on weak demand from South Korea and Thailand, data released from Solvent Extractors Association of India (SEA) showed. As per the latest data of Ministry of Agriculture overall sowing acreage of oilseeds stood at lakh hectares on 11th December, down 5.80 lakh hectares from the last year in the same period. Demand failed to improve in cash markets as talks of better sowing conditions stimulated the idea of further price drop, Going by the latest government data, total cropped area is lakh hectares as against last year s Lakh hectares. Total area in the Rajasthan has now reached lakh hectares versus lakh hectares last year. Meanwhile total sowing area in the country as on Nov 27 stood reported at Lakh ha versus Lakh ha last year same period. The mustard crop farmers have received good returns this year due to short supply. Technically market is under fresh selling as market has witnessed gain in open interest by 7.42% to settled at while prices down -44 rupee, now Rmseed is getting support at 4084 and below same could see a test of 4062 level, And resistance is now likely to be seen at 4143, a move above could see prices testing 4180.

4 MENTHA OIL Menthaoil trading range for the day is Mentha oil spot at Sambhal closed at per 1kg. Spot prices is down by Rs.-1.70/-. Mentha oil prices dropped triggered by subdued demand from consuming industries in the spot market. Further, ample stocks position due to increased supplies from major producing belts also influenced mentha oil prices. The undertone was mixed in the physical markets as participants were unable to receive adequate inputs for price discovery. SELL MENTHA OIL 885 SL 895 TGT MCX Menthaoil settled down -0.43% at triggered by subdued demand from consuming industries in the spot market. Further, ample stocks position due to increased supplies from major producing belts also influenced mentha oil prices. However with cooler winters anticipated for many parts of India this year, the demand may soon start picking up from the pharmaceutical sector. Global demand too is expected to rise at these lower levels in coming weeks. The undertone was mixed in the physical markets as participants were unable to receive adequate inputs for price discovery. As per market sources, the overall production is still 70% lower from the previous year of 50,000 tons. Traders had estimated earlier that the total production in the range of tons for this year, and currently it appears that the average estimate might be reduced to tons. At Barabanki market total arrivals are at 200 Drums(1-drum-180kg), steady as against previous day s arrival. At Bareilly market sources reported arrivals at 1 Drums(1-drum-180kg), steady as against previous day s arrival. At Chandausi market estimated market supply was at 5 Drums(1-drum- 180kg), higher by 5 Drums(1-drum-180kg) from previous trading day. At Sambhal market estimated market supply was at 100 Drums(1- drum=180kg), unchanged as compared to previous day s arrival. At Rampur market sources reported arrivals at 5 Drums(1-drum=180kg), unchanged as compared to previous day s arrival. Technically market is under long liquidation as market has witnessed drop in open interest by % to settled at 9503 while prices down -3.8 rupee, now Menthaoil is getting support at 875 and below same could see a test of level, And resistance is now likely to be seen at 880.8, a move above could see prices testing CHANA Chana trading range for the day is Chana prices ended with gains on expectations of higher demand in domestic markets. India's pulses import during first half of this fiscal rose 14.2% to 22.5 million ton due to fall in domestic output caused by poor monsoon. As per the data, a maximum of 25,545 of pulses were seized in Karnataka, of which 5,787 tons have been offloaded In Delhi spot market, chana remains unchanged at by 0 rupee to end at 4850 rupee per 100 kgs. SELL CHANA 4410 SL ABV 4465 TGT NCDEX Chana settled up 0.37% at 4376 on expectations of higher demand in domestic markets. Meanwhile, India's pulses import during first half of this fiscal rose 14.2% to 22.5 million ton due to fall in domestic output caused by poor monsoon for the second successive years. During Apr-Sep 2014, India imported 1.97 million ton pulses, government data showed. Also, India's gram sowing stood at 7.51 million hectare as compared to 7.29 million hectare same period a year ago. Moreover, Minister of Consumer Affairs, Food and Public Distribution, Ram Vilas Paswan informed in a written reply in Lok Sabha that the Government has approved creation of a buffer stock through procurement of about 50,000 ton pulses from the kharif crop and 100,000 ton out of arrivals of rabi crop of The procurement will be done through Food Corporation of India (FCI), National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED), Small Farmers' Agribusiness Consortium (SFAC) and any other agency as may be decided. As per the data, a maximum of 25,545 of pulses were seized in Karnataka, of which 5,787 tons have been offloaded till Thursday. Maharashtra has offloaded 79,478 tons of pulses out of the total seized quantity of 86,709 tons so far, while Odisha has released almost entire quantity of 1,410 tons. Technically market is under fresh buying as market has witnessed gain in open interest by 4.09% to settled at while prices up 16 rupee, now Chana is getting support at 4350 and below same could see a test of 4325 level, And resistance is now likely to be seen at 4405, a move above could see prices testing 4435.

5 TURMERIC Turmeric trading range for the day is Turmeric dropped due to sluggish demand in the spot market against adequate stocks positions on higher supplies from producing belts. Further, hopes for a bumper harvest in the Western region with the arrival of Pongal too fuelled the downtrend. Sources also stated that around lakh bags of total stocks have been reported in local mandies. In Nizamabad, a major spot market in AP, the price ended at 9525 rupees remains unchanged at0 rupees. SELL TURMERIC 9850 SL TGT NCDEX Turmeric settled down -1.93% at 9642 due to sluggish demand in the spot market against adequate stocks positions on higher supplies from producing belts. Further, hopes for a bumper harvest in the Western region with the arrival of Pongal too fuelled the downtrend. Spot turmeric prices at Erode markets decreased on slack buying. Only 5,000 bags arrived for sale and buyers procured 60 per cent of the stock at a decreased price. Some stockists also procured few bags. The finger turmeric decreased by Rs a quintal and the root variety by Rs At the Erode Turmeric Merchants Association, the finger variety went for Rs. 7,398-10,099; the root variety at Rs. 7,299-9,299. Of the 11,856 bags offered, 930 were sold. Some stockists also procured few bags. Sources also stated that around lakh bags of total stocks have been reported in local mandies. While the total production in the coming year is expected to be around 68 lakh bags, up 20 lakh bags from the last year. Deficient rainfall in during early part of sowing in major Turmeric growing regions of Maharashtra and Karnataka may reduce the yield. As per dept of commerce data, turmeric exports till September, 2015 pegged at 50,916 tonnes while the export for the is 90,738 tonnes compared to 78,360 tonnes in FY14. Technically market is under fresh selling as market has witnessed gain in open interest by 5.01% to settled at while prices down -190 rupee, now Turmeric is getting support at 9536 and below same could see a test of 9430 level, And resistance is now likely to be seen at 9822, a move above could see prices testing JEERA Jeera trading range for the day is Jeera prices gained as the overall acreage of jeera is likely to decline by percent. Jeera sowing reported higher by 1700 hectares in Gujarat as compared to last year area, sowing almost completed in Gujarat current year. India's total carryover stock is currently estimated between million bags versus 2.5 million bags a year ago. In Unjha, a key spot market in Gujarat, jeera edged up by 1.35 rupees to end at rupee per 100 kg. SELL JEERA SL TGT NCDEX Jeera settled up 0.51% at as the overall acreage of jeera is likely to decline by percent. In Gujarat state, current year, sowing completed 2,68,400 hectares, Normal area is 3,52,300 hectares. Last year Jeera sowing reported 2,66,700 hectares. Jeera sowing reported higher by 1700 hectares in Gujarat as compared to last year area, sowing almost completed in Gujarat current year. Farmers reveled that, Jeera sowing delay in Gujarat as compared to Rajasthan around days. Weather in growing areas remain a very important factor for the near term market sentiments. Cool weather is beneficial for crop growth, while a warmer weather may damage the standing crop also.india's total carryover stock is currently estimated between million bags versus 2.5 million bags a year ago. In , sowing in Rajasthan (Jodhpur division) reported 2.42 lakh ha vs last year 2.40 lakh ha. At Gondal (Guj.) market in arrivals were reported at 200 quintals, lower by 50 quintals from previous trading day. At Rajkot market in Rajkot (Guj.) total arrivals are at 150 quintal, down by 90 quintal from previous trading day. At New Delhi market estimated market supply was at 3000 quintals, lower by 1000 quintals as compared to previous day. Technically market is under fresh buying as market has witnessed gain in open interest by 0.16% to settled at 7386 while prices up 70 rupee, now Jeera is getting support at and below same could see a test of level, And resistance is now likely to be seen at 13990, a move above could see prices testing

6 CASTORSEED SUP-3 SUP-2 SUP-1 P.P. RES-1 RES-2 RES-3 OI (%) Castorseed settled up 1.15% at 3530, technically market is under fresh buying as market has witnessed gain in open interest by 1.57% to settled at while prices up 40 rupee, now Castorseed is getting support at 3500 and below same could see a test of 3471 level, And resistance is now likely to be seen at 3550, a move above could see prices testing Castorseed trading range for the day is SELL CASTORSEED 3570 SL 3620 TGT NCDEX The spot prices of castorseed in Disa mandi dropped rupee to rupees per kg. MAIZERABI SUP-3 SUP-2 SUP-1 P.P. RES-1 RES-2 RES-3 OI (%) Maize trading range for the day is Maize prices ended with gains amid short covering after prices dropped in last some session tracking weakness in overseas prices. Maize has been sown in 2.07 lakh hectares higher by 0.10 lakh hectares than the corresponding period of last year. NCDEX accredited warehouses maize stocks gained by 60 tonnes to tonnes. In Nizamabad maize prices remains unchanged at0 rupee to end at 1520 rupees per 100 kg. SELL MAIZE 1480 SL 1500 TGT NCDEX Maize settled up 0.68% at 1476 amid short covering after prices dropped in last some session tracking weakness in overseas prices. As per Government data, in Maharashtra, maize has been sown in 2.07 lakh hectares higher by 0.10 lakh hectares than the corresponding period of last year. As per Government data, in Gujarat, maize has been sown in 0.69 lakh hectares lower by 0.27 lakh hectares than the corresponding period of last year. As per Government data, in Coastal Karnataka, maize has been sown in 0.83 lakh hectares lower by 0.01 lakh hectares than the corresponding period of last year while in Tamilnadu, it has been sown in 1.87 lakh hectares as on 8th Jan 16, higher by 0.16 lakh hectares than the corresponding period of last year. India's state-run trader PEC Ltd will float a tender to import about 200,000 tonnes of corn in a week after receiving a good response for a similar tender, a government source said. The lowest offer in the tender from PEC to purchase and import 290,000 tonnes of yellow corn which closed on Wednesday was for Ukrainian corn. At Koppal market sources reported arrivals at 3000 Bags, unchanged as compared to previous day s arrival. Maize cultivation has been hit due to excess rain in parts of the district, bringing huge loss to the farmers. Technically market is under short covering as market has witnessed drop in open interest by -1.52% to settled at 7780 while prices up 10 rupee, now Maize is getting support at 1460 and below same could see a test of 1443 level, And resistance is now likely to be seen at 1487, a move above could see prices testing 1497.

7 MONTH OPEN HIGH LOW CLOSE OPEN INT MCX CARDAMOM CHANGE IN RS. CHANGE IN % OTHER COMMODITY ITEMS TRADING LEVEL Feb Weak Feb 2016 Res-1 Res-2 Res-3 Resistance 776 MONTH VOLUME OI (%) NCDEX REF.SOYA OIL Feb Weak Feb 2016 Res-1 Res-2 Res-3 Resistance 603 MONTH MCX CRUDE PALM OIL Jan Positive Jan 2016 Res-1 Res-2 Res-3 Resistance MONTH NCDEX BARLEY Apr Weak Apr 2016 Res-1 Res-2 Res-3 Resistance 1447 MONTH NCDEX RMSEED Apr Weak Apr 2016 Res-1 Res-2 Res-3 Resistance 4121 MONTH NCDEX SOYABEAN Feb Weak Feb 2016 Res-1 Res-2 Res-3 Resistance MONTH NCDEX WHEAT Feb Positive Feb 2016 Res-1 Res-2 Res-3 Resistance 1680 MONTH NCDEX SUGARM Mar Positive Mar 2016 Res-1 Res-2 Res-3 Resistance 3260 MONTH NCDEX REF.SOYA OIL JUNE

8 SPREAD UPDATE DAILY SPREAD IN MENTHA OIL - MCX DAILY SPREAD IN SOYABEAN - NCDEX MONTH RATE Jan 2016 Feb 2016 Mar 2016 MONTH RATE Feb 2016 Mar 2016 Apr 2016 Jan Feb Feb Mar Mar Apr Spread between Menthaoil JAN & FEB contracts yesterday ended Spread between Soyabean FEB & MAR contracts yesterday ended at Rs.11.8, we have seen yesterday Menthaoil future had traded at Rs.42, we have seen yesterday Soyabean future had traded in in a negative zone and settled -0.43% down. a negative zone and settled -0.76% down. DAILY SPREAD IN CPO - MCX DAILY SPREAD IN CHANA - NCDEX MONTH RATE Jan 2016 Feb 2016 Mar 2016 MONTH RATE Apr 2016 May 2016 Jun 2016 Jan Apr Feb May Mar Jun Spread between CPO JAN & FEB contracts yesterday ended at Spread between Chana APR & MAY contracts yesterday ended at Rs.6.6, we have seen yesterday CPO future had traded in a Rs.52, we have seen yesterday Chana future had traded in a positive zone and settled 0.64% up. positive zone and settled 0.37% up. DAILY SPREAD IN JEERA - NCDEX DAILY SPREAD IN TURMERIC - NCDEX MONTH RATE Mar 2016 Apr 2016 May 2016 MONTH RATE Apr 2016 May 2016 Jun 2016 Mar Apr Apr May May Jun Spread between Jeera MAR & APR contracts yesterday ended at Spread between Turmeric APR & MAY contracts yesterday ended Rs.70, we have seen yesterday Jeera future had traded in a at Rs.132, we have seen yesterday Turmeric future had traded in positive zone and settled 0.51% up. a negative zone and settled -1.93% down. DAILY SPREAD IN CARDAMOM - MCX DAILY SPREAD IN REF.SOYA - NCDEX MONTH RATE Feb 2016 Mar 2016 Apr 2016 MONTH RATE Feb 2016 Mar 2016 Apr 2016 Feb Feb Mar Mar Apr Apr Spread between Cardamom FEB & MAR contracts yesterday Spread between Ref.Soyaoil FEB & MAR contracts yesterday ended at Rs.-4, we have seen yesterday Cardamom future had ended at Rs.-4.95, we have seen yesterday Ref.Soyaoil future traded in a negative zone and settled -0.57% down. had traded in a negative zone and settled -0.31% down.

9 NEWS YOU CAN USE India s edible oil import has sharply increased in the recent years due to higher availability of edible oil in world market at lower prices and limited domestic oilseeds crushing. During the Oil Year (November 2014-October 2015), overall edible oil import has increased by per cent or 27.9 lakh tonnes (lt) over the previous year, according to data compiled by Solvent Extractors Association of India (SEA). India meets more than 60 per cent of its annual edible oil demand of million tonnes (mt) through imports and palm oil makes up about 70 per cent of total vegetable oil imports. In , nearly 9.5 mt of palm products imported from Indonesia and Malaysia, which is nearly two-third of total edible oil imports of 14.4 mt. In , the country imported 20 per cent more palm oil products it imported in previous year. Thus, domestic CPO price trend normally follows the price trend in Bursa Malaysia. As per latest SEA Circular, India is the largest market for edible oil and it is expected that CPO, RBD palmolein and soyabean oil may further be dumped in the country due to weak physical demand in the world market China and Europe. The economic slowdown in China results in lower palm imports. China cut its palm imports from Malaysia by about 45 per cent in December compared to November Moreover, European countries too slowed down their imports due to seasonal reasons, as palm oil tends to solidify in cold weather. The warmish winter in the north is not yet seen as having an adverse impact on the final wheat harvest but the next few days would be important, said Union agriculture secretary Siraj Hussain. The Centre is monitoring the situation and is hopeful that cold weather would reappear, as the latest report of the India Meteorological Department indicates. Sowing of wheat, the main rabi (winter) crop, has been lagging due to lack of soil moisture, following consecutive drought years. Till Friday, rabi crops had been sown on million hectares (mha), around 1.8 mha less than this time last year. Mainly due to less moisture in parts of Uttar Pradesh and Madhya Pradesh. The lag is primarily in wheat and mustard. Wheat had been sown on mha till Friday, 5.9 per cent less than the area covered during the same period last year. Mustard was planted on 6.27 mha, about 3.2 per cent less. However, some weather experts said even if the weather turns colder in the next few says, this might not last for more than a few days. Another western disturbance will be affecting North India by Monday. This will again increase both the maximum and minimum temperatures across the region, said private weather forecasting agency Skymet. More than the area covered, said officials, it was the condition of the standing crop which was worrisome. A sudden rise in temperature in the flowering stage could impact the final harvest.

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Item Open High Low Close % Cng OI Comments DAILY MARKET LEVEL

Item Open High Low Close % Cng OI Comments DAILY MARKET LEVEL 4-Nov-15 Item Open High Low Close % Cng OI Comments Spices Pepper 35490 35500 34420 34945-1.34 41 Turmeric 8730 9022 8710 8994 2.39 9915 Jeera 15700 15740 15555 15680 0.26 7290 Coriander 9201 9670 9170

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