*Agri-Commodity Update - 06-Feb-2024* *Domestic Agri-Future market Update* # *NCDEX Turmeric Apr* crossed above previous day high but could not sustain as it face resistance near 15,950 levels. Turmeric prices is supported on expectation of lower production this season. # *NCDEX Jeera Feb* is moderately higher but trading within the previous session range. traders are expecting bumper crop this season but good physical demand may keep prices in range of 26,000-27,000 levels. # *NCDEX Dhaniya Apr* traded under pressure for the second consecutive day weigh down by lower physical demand. However, production is expected to be lower this season due to less area in Gujarat and Rajasthan. # *NCDEX Castor Feb* slipped to 3-weeks low due to improving supplies in the physical market. # *NCDEX Cocud Feb* is trading under pressure but in a broad range with strong support near 2,430 levels. Improving kapas arrivals putting pressure on prices in 2024. # *NCDEX Guar seed Mar* recover about 1% in today’s trade to 5400 levels but still within the previous session range. Exports down 6% to 3.08 lakh tonnes Vs 3.28 lt last year during Apr-Dec period. # *NCDEX Kapas* continue to trade under pressure near 1480 levels as physical arrivals reaching record highs last week crossing 2 lakh bales per day. # *MCX Cottoncndy Mar* trading moderately higher near 57,600 levels. *International Market Update* # ICE Cotton trading positve today near 4-month highs supported by good export demand for US cotton coupled with strength in the crude oil prices. # Cbot Soybean is trading mostly unchanged near previous day closing. In the previous session it touched 3-year low prices and recovered due to bargain buying. # Export inspections of US soybeans rose by 60.3% to 1.42 mt in the week ending Feb 01: USDA # Brazil´s soybean crop estimate was cut to 156.1 mt from the previous projection of 160.3 mt: Abiove # Soybean harvesting in Brazil remained at a fast pace reaching 16% of the estimated area # Malaysian palm oil futures rose for a second consecutive session on Tuesday, tracking strength in rival edible oils and buoyed by expectations of lower output in the world's second-biggest producer. # Palm oil stocks were seen falling to 2.14 million metric tons in January, down 6.62% from December : Reuters # Crude palm oil output was seen at 1.37 million tons, an 11.83% decline from the previous month

*Agri-Commodity Update – 06-Feb-2024*

*Domestic Agri-Future market Update*

# *NCDEX Turmeric Apr* crossed above previous day high but could not sustain as it face resistance near 15,950 levels. Turmeric prices is supported on expectation of lower production this season.

# *NCDEX Jeera Feb* is moderately higher but trading within the previous session range. traders are expecting bumper crop this season but good physical demand may keep prices in range of 26,000-27,000 levels.

# *NCDEX Dhaniya Apr* traded under pressure for the second consecutive day weigh down by lower physical demand. However, production is expected to be lower this season due to less area in Gujarat and Rajasthan.

# *NCDEX Castor Feb* slipped to 3-weeks low due to improving supplies in the physical market.

# *NCDEX Cocud Feb* is trading under pressure but in a broad range with strong support near 2,430 levels. Improving kapas arrivals putting pressure on prices in 2024.

# *NCDEX Guar seed Mar* recover about 1% in today’s trade to 5400 levels but still within the previous session range. Exports down 6% to 3.08 lakh tonnes Vs 3.28 lt last year during Apr-Dec period.

# *NCDEX Kapas* continue to trade under pressure near 1480 levels as physical arrivals reaching record highs last week crossing 2 lakh bales per day.

# *MCX Cottoncndy Mar* trading moderately higher near 57,600 levels.

*International Market Update*

# ICE Cotton trading positve today near 4-month highs supported by good export demand for US cotton coupled with strength in the crude oil prices.

# Cbot Soybean is trading mostly unchanged near previous day closing. In the previous session it touched 3-year low prices and recovered due to bargain buying.

# Export inspections of US soybeans rose by 60.3% to 1.42 mt in the week ending Feb 01: USDA

# Brazil´s soybean crop estimate was cut to 156.1 mt from the previous projection of 160.3 mt: Abiove

# Soybean harvesting in Brazil remained at a fast pace reaching 16% of the estimated area

# Malaysian palm oil futures rose for a second consecutive session on Tuesday, tracking strength in rival edible oils and buoyed by expectations of lower output in the world's second-biggest producer.

# Palm oil stocks were seen falling to 2.14 million metric tons in January, down 6.62% from December : Reuters

# Crude palm oil output was seen at 1.37 million tons, an 11.83% decline from the previous month