Today Cardamom futures up on upswing in demand

During the morning trade Cardamom futures were trading high in the domestic market on Wednesday as investors and speculators build up new positions in the agri-commodity among rise in physical demand for cardamom in the domestic spot market. Further, insufficient supplies amid restricted physical arrivals from the major cardamom producing regions, too supported the uptrend in the domestic cardamom prices. 

At the MCX, cardamom futures for October 2016 contract is trading at Rs 1136 per kg, upward by 0.40 %, after opening at Rs 1128, against a previous close of Rs 1131.50. It touched the intra-day high of Rs 1136.

 

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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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WEEKLY MARKET ANALYSIS ON COMMODITY 09/FEB/2015

Precious Metals

D A I L Y B U Z Z

GOLD/SILVER

Gold futures prices today fell by 0.20 per cent to Rs 27,610 per 10 grams as speculators offloaded their positions amid a weak global trend. At the Multi Commodity Exchange, gold prices for delivery in far-month April fell by Rs 56, or 0.20 per cent, to Rs 27,610 per 10 grams in business turnover of 99 lots. Similarly, metal prices for delivery this month declined by Rs 40, or 0.14 per cent, to Rs 27,800 per ten grams in nine lots. Market analysts said the fall in gold futures was mostly attributed to trimming of positions by speculators, tracking a weak trend overseas as investors weighed prospects for higher US interest rates amid signs that a global slowdown may be hurting the world's largest economy. Meanwhile, gold traded lower at $1,272.83 an ounce from $1,274.41 in Singapore in yesterday. Continued their rising streak for the third straight day, silver prices rose 0.64 per cent to Rs 38,101 per kg in futures trade today as speculators indulged in enlarging positions on the back of firming global trend. At the Multi Commodity Exchange ( MCX), silver for delivery in March moved up by Rs 242, or 0.64 per cent, to Rs 38,101 per kg in a business turnover of 1,218 lots. Similarly, the white metal for delivery in May traded higher by Rs 212, or 0.56 per cent, to Rs 38,350 per kg in 32 lots. Analysts said enlarging of positions by speculators in tandem with a firming global trend mainly kept silver prices higher at futures trade.

Base Metals

D A I L Y B U Z Z

ZINC

Zinc futures traded a shade lower at Rs 129.10 per kg today on offloading of positions by speculators amid weak cues from overseas market and subdued spot demand at domestic markets. At the Multi Commodity Exchange, zinc for delivery in February traded lower by 55 paise, or 0.42 per cent, to Rs 129.10 per kg in a business turnover of 202 lots. In a similar fashion, the metal for delivery in January shed 35 paise, or 0.27 per cent, to Rs 128.80 per kg in 212 lots. Market analysts said besides subdued demand from consuming industries in the spot market, weakness in copper and other metals at the London Metal Exchange, led to the fall in zinc prices at futures trade. 

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Mcx commodity tips: A resurgent US dollar took toll on Crude oil

Mcx commodity tips: A resurgent US dollar took toll on Crude oil as energy traders indulged in a massive sell-off in the fuel in the domestic and overseas market on Tuesday, pulling prices down by more than 3 per cent. Stronger dollar curbed the demand for the fuel as an alternative asset. Stronger greenback makes oil more expensive for those holding other currencies, thus dimming demand.

The dollar strengthened after better than expected US housing data eased concerns over a slowdown in the world’s biggest economy, powering the lure for risky assets. US housing starts surged to the highest level in more than seven years, up 20.2 per cent to a 1.14 million annual rate in April 2015.

Despite severe fighting in Syria, Yemen and Iraq, with Islamic State Militants strengthening their foothold in Libya, crude supplies from the oil-rich Middle East are increasing, exasperating fears over a global supply glut. Saudi Arabia, the world’s biggest oil producer, said that the country pumped in a record 10.3 million barrels per day of oil in March.

However, US supplies continued to ease, with oil stockpiles falling 5.2 million barrels in the week ended May 15, 2015, the American Petroleum Institute (API) reported late Tuesday.

Oil may rebound today as government data shows a further dip in US crude oil stockpiles.

At the MCX, Crude oil futures, for the June 2015 contract, closed at Rs 3,737 per barrel, down by 3.11 per cent, after opening at Rs 3,859, against the previous close price of Rs 3,857. It touched an intradaylow of Rs 3,728 till the closing.

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