By earn Agri-Commodity Update – 05-Mar-2024*
# India’s Oct-Feb sugar output 3.10 lt lower from year-ago period, says ISMA
*Domestic Agri-Future market Update*
# *NCDEX Turmeric Apr* corrected in today’s trade after it climb to 5-months high (17,778) in previous session. Prices are on uptrend due to expectation of lower production this season.
# *NCDEX Jeera Mar* trading in a broad range due to balanced supply and demand conditions. Last week prices down by 5.34% as new season arrivals keep prices under pressure on expectation of bumper crop this season.
# *NCDEX Dhaniya Apr* down 1% today after it climb to 10-weeks high in the previous session due to improving physical demand.
# *NCDEX Castor Mar* breaks previous two session highs but face resistance near 5750 levels due to improving arrivals in the physical market.
# *NCDEX Cocud Mar* witnessed some selling pressure at higher levels. Prices jumped more than 8% in last one month due to increasing physical demand.
# *NCDEX Guar seed Apr* down about 2% on reports of lower guar gum exports and higher availability of guar seed in physical market.
# *NCDEX Kapas* trading within the previous session range but little under pressure near 1641 levels.
# *MCX Cottoncndy Mar* open flat but trade moderately lower near 61,800 levels.
*International Market Update*
# ICE Cotton is trade moderately lower due to slowing down exports from the US and selling pressure at higher levels due to reports of increase area in the US in coming sowing season.
# Chicago soybean futures slipped on Tuesday, surrendering gains from the previous session, as bountiful supply from South America weighed on the market.# USDA is more likely to be more aggressive in adjusting South American production and expect to cut 3 to 4 million tonnes off their Brazil estimate in March report.
# Soybean crush in Jan-24 at just under 195 mil. bu. was below expectations, down 5% from Dec-23 and a 4 month low.
