Agro Outlook News and Updates for 29 May 2015

D A I L Y B U Z Z

Mcx commodity tips : Maize prices closed higher by 0.25 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of a rise in the demand from exporters and poultry industries. At the NCDEX, maize futures for July 2014 contract closed at Rs. 1,187 per quintal, up by 0.25 per cent, after opening at Rs. 1,185 against the previous closing price of Rs. 1,184. It touched the intra-day maximum of Rs. 1,192.

Mustard Seed prices closed lower by 1.1 % on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the profit booking by the traders on account of the weak crushing and export demand of mustard meal. At NCDEX, Mustard Seed futures for June 2015 contract closed at Rs. 4,225 per quintal, down by 1.1 per cent, after opening at Rs. 4,255 against the previous closing price of Rs. 4,272. It touched the intra-day low of Rs. 4,213.

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DAILY GOLD & SILVER REPORT 31 DEC 2014

Precious Metals

D A I L Y B U Z Z

GOLD

Gold prices rose by 0.49 per cent on Tuesday at the domestic markets as a result of a decline in stocks. However, a stronger dollar reduced the appeal of the bullion as an alternative asset after a Greek vote triggered the dissolution of the country's parliament. Stronger dollar makes the precious metal expensive for those holding other currencies, thus reducing demand. Gold futures for February 2015 contract, at MCX, were trading at Rs. 26,896 per 10 grams, up by 0.49 per cent after opening at Rs. 26,845 against the previous closing price of Rs. 26,764. It touched the intra-day high of Rs. 26,918 till the trading. (At 11.25 AM today).

SILVER

Silver prices rose by Rs 169 to Rs 36,653 per kg in futures trading today as speculators indulged in creating fresh positions amid a firming trend in the precious metals overseas. At the Multi Commodity Exchange, silver for delivery in March traded higher by Rs 169, or 0.46 per cent, at Rs 36,653 per kg in business turnover of 432 lots. Likewise, the white metal for delivery in May traded higher by Rs 158, or 0.43 per cent, to Rs 37,312 per kg in 9 lots. Market analysts said fresh positions built-up by speculators largely in tandem with a firming trend in the precious metals overseas as a retreat in stocks revived demand for an alternative investment, supported the upside in silver prices at futures trade. Meanwhile, silver was up 0.70 per cent at 15.91 an ounce in Singapore.

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