DAILY AGRI REPORT-5 APR

TURMERIC 
Turmeric futures traded down on NCDEX as speculators trimmed positions, tracking sluggish demand in spot market. Further, increase in new-season supply in major spot market against large stocks from the old crop also dampened the sentiments.  

SOYABEAN 
Indian soybean futures rose following gains in overseas markets, while soyoil futures were trading lower on strong rupee, which makes imports of edible oil cheaper. U.S. soybean futures were poised to finish the week up more than 3 percent on shrinking U.S. supplies. The May  soyoil contract was down 0.15 percent at 706.05 rupees per 10 kg. The May soybean contract closed 0.26 percent higher at 4,399.5 rupees per 100 kg, while May rapeseed contract edged up 0.03 percent to 3,511 rupees per 100 kg.

CHANA 
Chana futures traded lower on NCDEX as speculators reduced their positions driven by increased supplies from new season crop against weak demand in the local market. Further, expectations of higher output from the major producing belts too added pressure on chana prices.  

JEERA 
Indian jeera, or cumin seed, futures edged lower on higher supplies from new season crop. Jeera production is expected to rise to 6.5-7 million bags of 55 kg each in 2014, from 4.5-5 million bags a year earlier due to expanded area under cultivation and favourable weather. 
  

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