Agriwatch: Agri commodities index down 0.2% today

The Agri Commodities Index fringe down 0.20% to 115.90 during the week ended Oct 1, 2016 from 116.13 during the previous week. The basis for the Index and all sub-Indices is 2014 (= 100). Declines in cereals and vegetables prices offset the gains in pulses and edible oils. 

Six of the nine commodity groups and 19 of the 29 commodities that constitute the Index declined during the week. The commodity group sub-Index values and their weekly changes are as follows: Cereals: 101.83 (-1.34%), Pulses: 216.70 (+4.40%), Vegetables: 62.30 (-4.85%), Edible Oils: 116.0 (+0.68%), Oilseeds: 107.67 (-1.83%), Sweeteners (Sugar, Gur & Khandsari): 121.96 (-0.48%), Spices: 135.90 (-0.83%), Fibres: 98.82 (-3.23%) and Other Non-Food Articles: 77.57 (+2.25%).

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MCX Commodity Market (Bullions, Metals, Crude) Updates

Bullions may continue yesterday gains tracking firm international markets. Gold surged to a fresh record high on Wednesday. Base metals may open on sideways with negative note. LME copper fell on Wednesday. Crude oil can also open in red tracking weak opening in international markets.

Gold spot added $40, to $1,659 an ounce on the Comex yesterday. It is currently trading at $1654. MCX Gold October contract settled at Rs. 23806, it registered a gain of Rs. 299 for the day. All Base Metals in MCX are likely to open on a weak note today. Crude-oil futures on Tuesday settled at their worst level in five weeks after U.S. stocks sold off, raising concerns about the demand for oil. Crude  oil for Sep delivery declined $1.10, to end at $93.79 a barrel on the NYMEX.

Commodity trading tips, MCX updates, MCX Gold & Silver Live Prices, NCDEX Agri commodity tips

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MCX & NCDEX Commodity Market News Today

Copper prices advanced on Tuesday after receding to lower levels in two back to back previous sessions. Crude prices continued their decline on Tuesday on fears that the ongoing euro zone debt problems may spread.

Copper for three-month delivery on the LME gained $81, to end at $9,651 a tonne.  

Brent oil for August delivery on the LME settlement fell 50 cents, or 0.4 percent, to $117.25 a barrel on the ICE.

Pepper futures trade marginally higher on Wednesday.

• The contract of Pepper for July delivery was trading at Rs 26950.00, up by 0.19% or Rs 51.00 from its previous closing of Rs 26899.00. The open interest of the contract stood at 5584 lots.
• The contract of Pepper for August delivery was trading at Rs 27529.00, up by 0.48% or Rs 131.00 from its previous closing of Rs 27398.00. The open interest of the contract stood at 5574.00 lots on NCDEX.

Chana futures are trading mixed.

• The contract of Chana for July delivery was trading at Rs 2873.00, up by 0.14% or Rs 4.00 from its previous closing of Rs 2869.00. The open interest of the contract stood at 56340 lots.
• The contract of Chana for August delivery was trading at Rs 2954.00, down by 0.03% or Rs 1.00 from its previous closing of Rs 2955.00. The open interest of the contract stood at 289490 lots on NCDEX.

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NCDEX Agri Commodity (Pepper, Guar Seed) news & Trading Tips

Pepper futures have succumbed to profit booking extending their fall on Thursday. Traders have been reportedly waiting for some corrections in market rates for new demand as overall trend remains firm and there are expectations that rates have corrected a lot and further down trend possibility could be limited.

The contract for Pepper July delivery was trading at Rs 29950.00, down by 1.56% or Rs 475.00 from its previous closing of Rs 30,425.00. The open interest of the contract stood at 7278 lots. The contract for Pepper August delivery was trading at Rs 30039.00, down by 1.49% or Rs 455.00 from its previous closing of Rs 30,494.00. The open interest of the contract stood at 1955 lots on NCDEX.

Guar Seed futures are suffering profit booking after prices moved higher on reports of weak Monsoon, on apprehensions that it would affect the sowing prospects adversely. Traders are also not ruling out an increase in sowing area this year after the prices surged to record levels.

The contract for Guar Seed July delivery was trading at Rs 3460.00, down by 0.32% or Rs 11.00 from its previous closing of Rs 3471.00. The open interest of the contract stood at 213640 lots. The contract for Guar Seed August delivery was trading at Rs 3509.00, down by 0.54% or Rs 19.00 from its previous closing of Rs 3528.00. The open interest of the contract stood at 44270 lots on NCDEX.

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MCX NCDEX Agri Commodity (Pepper, Cardamom) news & Tips

Pepper futures have surged on Tuesday on the back of some short covering. Technical cues at strong support levels too have helped the prices. Cardamom futures increased by sharply even further on the back of strong spot market demand up against restricted arrivals right from producing belts. MCX cardamom ended the very last session much higher by 4% on the very last trading session.

The contract for Pepper July delivery was trading at Rs 29473.00, up by 1.29% or Rs 376.00 from its previous closing of Rs 29097.00. The open interest of the contract stood at 7370 lots. 

The contract for Pepper August delivery was trading at Rs 29440.00, up by 1.28% or Rs 373.00 from its previous closing of Rs 29067.00. The open interest of the contract stood at 1338 lots on NCDEX.

MCX Cardamom with regard to the July contract increased further in present-day trading session with the contract soaring by Rs 21.20 to the session raised of Rs 868.50 a kg. The contract is now trading much higher at Rs 868.50 and also the open interest added by 1.07% to 2,079 lots. Volume traded nowadays remained at 814 lots.

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