Barley Ends Lower On Downbeat Demand

 

Barley prices closed lower by 1.28 per cent on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors booked profits at the higher on account of the weak physical markets and also due to the fall in the demand from beer and cattle-feed makers. At the NCDEX, barley futures for September 2015 contract closed at Rs. 1,197.5 per quintal, down by 1.28 per cent, after opening at Rs. 1,210 against the previous closing price of Rs. 1,213. It touched the intra-day low of Rs. 1,184.

 

Sentiment weakened further on account of a surge in the arrivals of the commodity along with the sluggish demand on higher levels.
 

Barley is a cereal grain derived from the annual grass Hordeum vulgare. This widely adaptable crop is popular in temperate areas where it is grown as a summer crop and tropical areas where it is sown as a winter crop.

 

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TODAY COMMODITY REPORT FOR GOLD TIPS & LEAD UPDATES

Precious Metals 

D A I L Y B U Z Z

GOLD 

Silver prices moved up by Rs 140 to Rs 41,499 per kg in futures trade today after investors created positions largely driven by a firming trend overseas. 

At the Multi Commodity Exchange, silver for delivery in far-month September moved up by Rs 140, or 0.34 per cent, to Rs 41,499 per kg in business turnover of 18 lots. 

On the similar lines, the white metal for delivery in July month contracts rose by Rs 122, or 0.30 per cent, to Rs 41,373 per kg in 287 lots. 

Market analysts attributed the rise in silver prices at futures trade to a firming trend in the 

global markets on concerns that a US recovery may be stalling. 

Silver rose as much as 0.50 per cent to USD 19.63 an ounce in Singapore today, the highest 

since May 26.

Base Metals & Energy 

D A I L Y B U Z Z

LEAD 

Lead futures rose 0.70 per cent to Rs 122.85 per kg as participants enlarged positions on rising spot demand at domestic markets even as the metal weakened at the London Metal Exchange 

(LME). 

At the Multi Commodity Exchange, lead for delivery in June traded higher by 85 paise, or 0.70 per cent, to Rs 122.85 per kg, with a turnover of 471 lots. 

The metal for delivery in July also rose by 80 paise, or 0.65 per cent, to trade at Rs 124.05 per kg, in a business turnover of 19 lots. 

 

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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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