Commodity tips & updates for 16 Dec, 2015

Prices of Chana ended lower by 0.08 per-cent on yesterday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the steady sowing progress of pulses along with high supplies in major producing states. 

At NCDEX, chana futures for Dec 2015 contract closed at Rs. 5,078 per quintal, down by 0.08 per-cent, after starting at Rs. 5,095 as compared to the previous closing price of Rs. 5,082. It attained the intra-day low of Rs. 5,035.

 

Ncdex : Maize prices closed down by 1 per-cent on yesterday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of heavy selling activity by the traders on account of higher world wide supplies and weak offtakes from the native buyers.

At the NCDEX, maize futures for Dec 2015 contract closed at Rs. 1,481 per quintal, down by 1 per-cent, after unlocking at Rs. 1,475 against the previous closing price of Rs. 1,496. It attained the intra-day low of Rs. 1,475.

Sentiment weakened further as a result of a decline in the requirement for the commodity segment from bio-fuel making industries tracking the weak world markets. 

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" Gold may script a small rebound today "

 Against the backdrop of worries over a near-term Fed rate hike, ebbing safe haven demand and a roaring greenback, the yellow metal extended losses from a five-year low, tanking nearly 2 per cent in the domestic market on Monday.Holdings in bullion-backed exchange traded funds fell to the lowest level in nearly seven years, signaling Gold’s fast dimming investment appeal. Assets in the SPDR Gold expectation , the biggest Gold-backed replaced traded fund slumped to the lowest level since September 2008 when the collapse of Lehman Brothers triggered the Great Recession.Hypothesis that the US Federal Reserve will boost interest rates for the first time since 2006, in the coming months as inflation shows signs of picking up and the labour market improves, hurt Gold’s appeal as a store of value, while firing up the dollar, and hence curbing the lure for the bullion as an alternative asset.Atletic greenback makes Gold more profitable for those holding other currencies, thus dimming demand.Meanwhile, easing fears over Greece also cut Gold’s safe haven demand as Greek banks opened following a three-week shutdown while the country made a 2 billion euro repayment to the IMF.Gold may writing a small revive today as steep losses in previous sessions may trigger bargain buying in the metal.At the MCX, Gold futures for August 2015 contract closed at Rs 25,034 per 10 gram, down by 1.82 per cent after opening at Rs 25,475, against the previous closing price of Rs 25,498. It touched the intra-day low of Rs 24,904.

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Natural Gas futures plunged more than 3 % in the domestic market

Natural Gas futures plunged more than 3 per cent in the domestic market on Thursday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market after supplies rose at a significant pace last week, signaling weakening demand for the weather-sensitive fuel in the US, the world’s biggest fuel user. US gas stockpiles climbed by 89 billion cubic feet to 2.433 trillion cubic feet in the week ended June 12, 2015, the EIA said. Supplies climbed 112 billion cubic feet in the same month a year ago while the five-year average gain was 87 billion cubic feet. However, total stockpiles were 730 billion cubic feet higher than the same time a year ago and 46 billion cubic feet above the five-year average of 2.387 trillion cubic feet for this time of the year, a sign that supplies remain ample.

At the MCX, Natural Gas futures for June 2015 contract closed at Rs 177.20 per 1 kg, down by 3.3 per cent after opening at Rs 182.50, against the previous closing price of Rs 183.30. It touched the intra-day low of Rs 176.70 till the closing.

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Mcx Commodity Tips and Updates for 16 June 2015

Mustard Seed prices closed lower by 1.84 per cent on Monday 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 ended at Rs. 4,110/quintal, down by 1.84 per cent, after opening at Rs. 4,150 against the previous closing price of Rs. 4,187. It touched the intra-day low-lying of Rs. 4,100.

Maize prices ended lower by 0.27 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of heavy selling activity by the traders on account of higher global supplies and weak offtakes from the local buyers. At NCDEX, maize futures for June 2015 contract closed at Rs. 1,110 per quintal, down by 0.27 per cent, after opening at Rs. 1,108 against the previous closing price of Rs. 1,113. It touched the intra-day low of Rs. 1,108.

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MCX COMMODITY UPDATES FOR 12 JUNE 2014

Base Metals & Energy 

D A I L Y B U Z Z 

COPPER 

Copper prices moved up by 0.19 per cent to Rs 401.60 per kg in futures trade today as speculators created fresh positions on firm global cues. 

At the Multi Commodity Exchange, Copper for delivery in June traded higher by 75 paise, or 0.19 per cent, to Rs 401.60 per kg in a turnover of 690 lots. 

Likewise, the metal for delivery in August edged up by 60 paise, or 0.15 per cent, to Rs 404.80 per kg in 33 lots. 

CRUDE OIL 

Crude oil futures rose 0.50 per cent to Rs 6,201 per barrel today as speculators created positions amid a firm trend in Asian markets. 

At the Multi Commodity Exchange, Crude oil for delivery in June gained Rs 31, or 0.50 per cent, 

to Rs 6,201 per barrel, with a business turnover of 775 lots. 

The oil for July delivery moved up by Rs 30, or 0.49 per cent, to Rs 6,179 per barrel, with a business volume of 52 lots. 

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DAILY MCX COMMODIT REPORT ON PRECIOUS METAL AGRO TIPS

Precious Metals
                                                    D A I L Y B U Z Z
GOLD
Gold tumbled 1 per cent on Friday after data showed US job growth accelerated sharply, easing fears of an abrupt economic slowdown and keeping the Federal Reserve on track to continue reducing its monetary stimulUS.
Bullion pared some early losses after benchmark 10-year Treasury yields gave back some gains after initially rising to a six-week high. Weaker US equities after early advances also helped lift gold from its lows. Spot gold fell as much as 1.5 per cent to a session low of $1,329.35 an ounce, and was last trading down 1 per cent at $1,337.19 by 1:11 p.m. EST (1811 GMT).

US COMEX gold futures for April delivery fell $14 to $1,337.80 an ounce, with trading volume about 20 per cent above its 30-day average, preliminary Reuters data showed.

The metal, seen as a safe haven, was still on track for a fifth straight week of gains, capitalising on gains made earlier in the week when tensions in Ukraine escalated.

Agro Outlook
                                                    D A I L Y B U Z Z
CARDAMOM
Amid rising domestic demand and restricted supplies from producing regions, cardamom prices extended gains for the second straight day by gaining 1.90 per cent to Rs 751.90 per kg in futures trade today as speculators busy in enlarged their positions. At the Multi Commodity Exchange, cardamom for delivery in March rose further by 14, or 1.90 per cent to Rs 751.90 per kg in business turnover of 111 lots. Similarly, the spice for delivery in April traded higher by Rs 4.20, or 0.52 per cent to Rs 819.70 per kg in 339 lots.

Analysts said speculators enlarged positions on the back of rising demand in the spot market against restricted supplies from producing belts mainly helped cardamom prices to gain for the second straight day at futures trade.

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RESEARCH VIA DAILY COMMODITY AGRO TIPS, BASE METALS & ENERGY UPDATES 06 FEB 2014

Agro Outlook

                                                         D A I L Y B U Z Z

CARDAMOM

Cardamom futures rose nearly three per cent to Rs 841.50 per kg in futures trade today as speculators enlarged positions driven by rising demand in spot markets amid thin arrivals.

At the Multi Commodity Exchange, cardamom for delivery in March rose by Rs 24.50, or 2.99 per cent, to Rs 841.50 per kg, with a business turnover of 926 lots.

The delivery in February also up by Rs 22.50, or 2.86 per cent, to Rs 809.20 per kg, with a trading volume of 677 lots. 

CORIANDER

Coriander prices rose by 1.13 per cent to Rs 8,173 per quintal in futures trade today as speculators enlarged their positions supported by rising demand in the spot markets amid limited stocks on account of restricted arrivals from the major growing belts.

Sentiment improved further as the investors enlarged theirAt the National Commodity and Derivative Exchange, coriander for February delivery gained Rs 91, or 1.13 per cent, to Rs 8,173 per quintal with an open interest of 27,900 lots.

Similarly, the spice for delivery in April traded higher by Rs 37, or 0.42 per cent, to Rs 8,920 per quintal, with an open interest of 27,060 lots. 

Base Metals & Energy

D A I L Y B U Z Z

CRUDE OIL

Crude oil futures traded 0.61 per cent higher at Rs 6,112 per barrel today as speculators created fresh positions amid a firm trend in Asia.

At the Multi Commodity Exchange, Crude oil for delivery in February gained Rs 37, or 0.61 per cent, to Rs 6,112 per barrel, with a business turnover of 2,764 lots. 

Oil for March delivery moved up by Rs 35, or 0.58 per cent, to Rs 6,102 per barrel, with a business volume of 171 lots. Marketmen said the rise in crude oil futures was largely in tandem with a firming trend in Asia as extra cold weather in the United States bolstered demand for heating fuel. 

Meanwhile, crude oil for March delivery advanced by 40 cents to $97.59 a barrel in midmorning trade at the New York Mercantile Exchange. 

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REVIA PRECIOUS METALS TIPS & AGRO UPDATE 07 JAN 2014

GOLD  SILVER

                                                     D A I L Y B U Z Z

Tracking a firm global trend, gold prices rose by Rs 213 to Rs 28,410 per 10 grams in futures trade today as speculators enlarged their positions.

Sentiment bolstered after gold surged to over 2-week high in overseas markets on speculation that demand will increase in Asia, the largest consuming region, traders said.

At the Multi Commodity Exchange, gold for delivery in far-month April rose by Rs 213, or 0.76 per cent to Rs 28,410 per 10 grams in business turnover of 122 lots.

In a similar fashion, the yellow metal for delivery in February moved up by Rs 162, or 0.56 per cent to Rs 29,130 per 10 grams in 1,529 lots.

Globally, gold climbed one per cent to $1,237.03 an, the highest level since December 18, in Singapore. 

CHANA  DHANIYA

                                                  D A I L Y B U Z Z

Chana prices declined by 0.42 per cent to Rs 3,061 per quintal in futures trading today as participants trimmed positions, triggered by increased supplies from producing regions.

At the National Commodity and Derivative Exchange, chana for delivery in January declined by Rs 13, or 0.42 per cent, to Rs 3,061 per quintal with an open interest of 65,900 lots.

Similarly, the commodity for delivery in February traded lower by similar margin to Rs 3,116 per quintal in 58,850 lots.

Analysts said participants trimmed positions, triggered by increased supplies from producing regions against low demand in the spot market mainly weighed on chana prices at futures trade.

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