OILSEEDS ROUNDUP. 5 April A Daily Fundamental report on Oilseed Complex. GeofinComtrade Ltd.

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1 GeofinComtrade Ltd. Geojit BNP Paribas Bldg, 1th Floor, 34/659-P, Civil Line Road, Padivattom. Kochi Kerala Phone: Geofin Research Desk, Kochi Vinod TP MCX Member code: 422 FMC No.: MCX/TCM/CORP/171 NCDEX Member code : 92 FMCNo.:NCDEX/TCM/CORP/895 NMCE Member code: CL324 FMC No.: NMCE/TCM/CORP/245 ACE Member code: 6192 FMC No: ACEL/TCM/CORP/429 Disclaimer: Trading/investing in Commodity Derivatives involves considerable risk you may lose part or all of the initial investment. It is not ideal for all types of investors, and you are advised to seek professional assistance before the same. Past performance may not necessarily be repeated in the future. The news and views posted on this report is based on information which is believed to be accurate. This report is provided to enable you to make your own investment decisions and should not be construed as investment advice. The anticipatory moves mentioned in the report are purely subject to technical studies and does not take into consideration sudden currency volatility and data events. The author, directors and/or employees of Geofin Comtrade cannot be held responsible for the accuracy of the content posted on this report or for decisions taken by the readers based on such information. 5 April 216 OILSEEDS ROUNDUP A Daily Fundamental report on Oilseed Complex

2 International Market Updates Contacts Open High Low Close LTP Pct.Chng CBOT SOYBEAN Soybean May Soybean July Soybean Aug CBOT SOYBEAN OIL Soybean Oil May Soybean Oil July Soybean Oil Aug CBOT SOY MEAL Soy Meal May Soy Meal July Soy Meal Aug BMD MALAYASIA CPO June DCE CHINA DCE PALM OIL Apr #N/A Major Price updates International markets Price % Change Riskiness (SD) Ann. Voaltility Units Malaysian CPO FOB $/tonne Malaysian Palm kernel oil FOB $/tonne Malaysian Palm RBD FOB $/tonne Malaysian Palmolein $/tonne Malaysia Palm Stearin $/tonne Malaysia Palm Fatty Acid Distillate FOB $/tonne Indonesia CPO FOB $/tonne SEA Crude Palm Oil Indonesia FOB $/tonne China-Tianjin Port Ex Factory Refined palm oil Spot CNY/tonne China-Rizhao Port Ex Factory Refined palm oil Spot CNY/tonne Indian Prices in various ports SEA Crude Palmoil CIF Mumbai $/tonne Indian-Mumbai CIF Palmolein RBD Spot $/tonne Indian Palm oil Kandla spot Rs.per1Kg Crude Palmoil Kakinada Spot Rs.per1Kg FOB Indian Converted prices FOB malaysian Palm oil converted Rs.per1Kg FOB Indonesian Palm oil converted Rs.per1Kg Source: Reuters, GCTL

3 CPO Futures Price Name Close Pivot r & % r Open Int % OI r Volume % Vol r Crude Palm Oil - APR (+1.43%) Crude Palm Oil - MAY (+1.48%) Crude Palm Oil - JUN (+1.56%) Crude Palm Oil - JUL (+2.21%) Futures Price Analysis Source: Cogencis, GCTL Name 1 week high 1 week low 52 week high 52 week low 1 month r 6 month r 12 month r Crude Palm Oil - APR Crude Palm Oil - MAY Crude Palm Oil - JUN Crude Palm Oil - JUL Spot Market Price Spread 29-Apr 31-May 3-Jun 29-Jul CPO-Kandla Spot RBD-Kandla 6 29-Apr May Volume Open Int Outlook on CPO Increase in volume and OI, which had confirmed buying interest in the counter. Malaysia's palm oil exports during the Mar period are estimated up 22.2% on the month at 1,167,775 metric tons, cargo surveyor SGS said Thursday. The estimate is slightly lower than the cargo surveyor, Intertek Agri Services. Palm oil imports are likely to increase by 5, tn to 5.65 mln tn during the Indonesia's palm oil exports in February surged 27.9% year on year and up 9% from a month earlier to 2.29 million tons despite lower output. MCX April CPO prices escalated higher even following the strengthening of the rupee against the dollar and due to rise in demand ahead of the Navratra festival. Meanwhile, June BMD Malaysian prices, are trading positively due to weakness in Ringgit against the dollar. Firm exports from Malaysia that released by both cargo surveyors along with a decline in output due to the scorching weather in southeast Asian regions. And also, impending festival demand like Ramadan in June are likely to support the prices in the near term. However, Malaysia raised its export tax on crude palm oil sales in April to 5% from zero, reducing buying interest in the tropical oil. Overall, expect to see a continuation of buying momentum.

4 Soybean Futures Price Name Close Pivot r & % r Open Int % OI r Volume % Vol r SOYABEAN - APR (+.8%) SOYABEAN - MAY (+.98%) SOYABEAN - JUN (+1.5%) SOYABEAN - JUL (+1.19%) SOYABEAN - OCT (+1.48%) Futures Price Analysis Source: Cogencis, GCTL Name 1 week high 1 week low 52 week high 52 week low 1 month r 6 month r 12 month r SOYABEAN - APR SOYABEAN - MAY SOYABEAN - JUN SOYABEAN - JUL SOYABEAN - OCT Soybean-Indore 4128 Spot Soybean-Kota Apr Soybean-Nagpur May Volume Open Int Outlook on Soybean increase in volume and decrease in OI suggests profit booking. China is expected to import 84.5 mln tn soybean in , up 1.8% from the previous US Department of Agriculture estimate of 83. mln tn, agrimoney report. The U.S. Department of Agriculture estimated that farmers in the country planned to seed million acres of soybeans this year, the third-highest ever but below million a year ago and an average trade forecast of million. NCDEX April Soybean prices opened higher initially due to renewed demand from the oil millers amid lower arrivals. Moreover, firm CBOT soybean prices as a weak estimate of soybean sowing in the US and shifting of crops to corn were also supported the buying momentum. Moreover, improved demand from China for US soybean also lent the support the prices. In the domestic market, early entering of lean production phase is likely to keep the prices in a positive note. Overall, we expect mild profit booking in today s trading session.

5 Rmseed Soy oil Futures Futures Price Price Name Name Close Close Pivot Pivot r & % r Open Open Int Int % OI OI r Volume Volume % % Vol Vol r r R. SOYOIL - APR (-.7%) 362 R.SOYA OIL- APR (+1.3%) R. SOYOIL - MAY (-.5%) 756 R.SOYA OIL- MAY (+.7%) R. SOYOIL - JUN (-.39%) 3738 R.SOYA OIL- JUN R. SOYOIL - JUL (+.52%) (+.6%) 1193 R. R.SOYA SOYOIL OIL- - AUG16 JUL (+.23%) (+.7%) 125 Futures Price Analysis Source: Source: Cogencis, GCTL GCTL Name 1 week high 11 week low low week high 52 week low 1 month r 6 month r month r R.SOYA SOYOIL OIL- - APR R.SOYA SOYOIL OIL- - MAY R. SOYOIL - JUN R.SOYA OIL- JUN R. SOYOIL - JUL R.SOYA OIL- JUL R. SOYOIL - AUG Soyoil-Mumbai Soyoil-Mumbai Spot Spot Soyoil-Indore Apr Soyoil-Nagpur May Volume Open Int Outlook on Refined Soy oil Steady volume and decrease in OI indicating profit booking. As per Solvent Extractors Association, oil imports rose by 58.2% to 38,121 metric tonnes in the month of February. Soymeal exports in February declined a whopping 98% on year to just 1,127 tn due to subdued demand from key buyers, data from the Soybean Processors Association of India showed. The country had exported 64,515 tn soymeal a year ago. NCDEX April Soy oil prices were traded positively in line with domestic soybean prices along with robust buying in spot markets. However, huge edible oil imports and availability of stocks in ports may cap major upside in the near term. Overall, we expect to see profit booking for the day s session.

6 Rmseed Futures Price Name Close Pivot r & % r Open Int % OI r Volume % Vol r R MUSTARD SEED- APR (+2.38%) R MUSTARD SEED- MAY (+2.5%) R MUSTARD SEED- JUN (+2.45%) R MUSTARD SEED- JUL (+2.7%) Futures Price Analysis Source: Cogencis, GCTL Name 1 week high 1 week low 52 week high 52 week low 1 month r 6 month r 12 month r R MUSTARD SEED- APR R MUSTARD SEED- MAY R MUSTARD SEED- JUN R MUSTARD SEED- JUL Rmseed -Jaipur 425 Spot Rmseed-Alwar Apr May Increase in volume and OI indicates buying momentum Volume Open Int Output of mustard seed in Rajasthan in (Oct- Sep) is estimated to be 3.5 million tons as compared with 3. million than last year. The country's total mustard output at 6.84 mln tn, up 8.9% from last year. China's mustard imports are likely to rise by 3, tn to 4.5 mln tn In , agrimoney report. Outlook on RMseed NCDEX Apr Rmseed futures traded higher, extending gains from the previous session due to improved spot demand from stockiest and oil millers. Firmness in CPO and Soy oil were also supported the prices as a substitute of oil. Moreover, forecast of rains in key growing areas and lower stocks in the spot markets were also abet the prices. However, arrivals will come up in coming days is likely to pressurize the prices. Overall, we recommend lower level buying for the day.

7 Stocks in Major NCDEX Warehouses on 3 Mar Commodity Centre Unit As on Previous Week Ago 1-mon ago 3-mon ago Apr.3 Apr.1 Mar.28 Mar.3 Jan.3 Mustard Seed Alwar tn ,255 Jaipur tn ,923 Jodhpur tn ,566 Kota tn Bikaner tn 1,247 1, Sriganganagar tn Total tn 2,388 2, ,673 Soybean Seeds A Indore tn 3,295 3,295 3,295 3,982 5,962 Akola tn 19,885 19,885 2,386 21,125 26,45 Kota tn 1,989 1,989 1,989 14,498 27,492 Latur tn 1,387 1,387 1,387 1,694 6,319 Mandsaur tn ,422 Vidisha tn Total tn 35,834 35,834 36,335 41,577 71,721 Soybean Seeds B Akola tn 2,283 2,283 2,2 1, Kota tn 2,992 2,992 2,589 2,17 -- Indore tn Total tn 5,755 5,755 5,89 4, Castor Seed Bhabhar tn ,733 Patan tn 16,23 16,231 16,281 32,781 69,176 Kadi tn 1,552 1,552 1,774 26,735 54,59 Deesa tn 1,939 1,939 1,939 4,453 19,448 Total tn 28,82 28,82 29,74 64, ,947 Source: Cogencis Click on for further details on allocations and deliveries Allocations Deliveries Source: NCDEX Geofin Research Team, Kochi Hareesh V Head of Commodity Research hareesh@geofin.co.in Vinod T. P. vinod_tp@geofin.co.in Phone: / Mobile: research@geofin.co.in Krishnaprasad NB krishnaprasad_nb@geofin.co.in Vishidha Vijayakumar vishidha_v@geofin.co.in Anu V Pai anu_vp@geofin.co.in This document may not be reproduced, distributed or published, in whole or in part, by any recipient hereof for any purpose without prior permission from Geofin Comtrade Ltd.