NCDEX Agri Commodity Market Report & News

Turmeric futures may continue to trade bearish tracking weak sentiments prevailing at the spot markets. Pepper futures may continue to rule high taking advantage of squeeze in availability with a widening mismatch between demand and supply, paving the way for further rise in prices in the coming days. Chana futures may trade higher taking positive cues from lesser estimates of pulses production this season.

CHANA NCDEX OCT CLOSE PRICE 3678- Chana has resistance at 3695 which if breached can be seen approaching 3730.  Whereas support is at 3630-3580. Mixed to weak trade is expected today.

Guar Complex can higher for the day. 

Outlook for Chana is up for the day.
Outlook for Jeera is sideways to down for the day. 

Pepper futures to trade  higher for the day.

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Commodity Market Updates Today

MCX Commodity Market GOLD, SILVER, COPPER, CRUDE Updates:

Gold prices moved higher, paring earlier losses. Silver prices moved 2.4% higher, inline with the gains in the yellow metal.  MCX December Silver settled higher by 2.8% at Rs65,568/kg. Silver prices managed a high of Rs 65,690/kg and a low of Rs 63,998/kg. MCX December Silver is trading marginally lower by 0.17% today at Rs 65,459/kg.

Copper prices remained supported by prevailing supply threat in Indonesia,  where the labourers at Freeport McMoRan Copper & Gold mine are set to strike from September 15 to October 15 unless the firm meets their demands for a pay rise. Crude oil prices moved higher, underpinned by anticipation of a drawdown in US oil stockpiles.

NCDEX Commodity Market PEPPER, CHANA Updates:

Pepper futures may trade higher. Spot prices on matching demand and supply stayed steady at Rs 30,700 (ungarbled) and Rs 31,700 (MG 1) a quintal. Turmeric futures may remain downside. Spot turmeric dropped by Rs 100 a quintal further on Tuesday following poor demand. Chana futures may trade with a positive bias. Soybean futures may trade with weaker bias tracking lower quoting international prices.

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NCDEX Agri Commodity Market (Pepper, Guar, Chana) Updates

Bearish tone continues to prevail at pepper futures as traders continue to book profit at higher levels after the rates shot up on firm International markets amidst pick up in export demand. However, the traders are expecting the exports and domestic demand to remain good and to pick up further in the Festive season.

Guar Seed futures are trading lower, suffering some profit booking after a good upmove in last session. Lower export demand from the US and other countries was weighing down the prices. However, reports of heavy rains in the growing areas of Rajasthan kept apprehensions of fall in productivity for the standing crop.

Chana futures have gained some strength on reports of lower global production for pulses. Major producers for pulses namely Myanmar, Australia and Canada are likely to report a fall in pulses production due to adverse weather conditions. Back home, the festive demand too continued to support the rates at the lower levels.

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MCX Commodity Market Trading Strategies for Today

GOLD DROPS 2PC AS STOCKS RALLY; DEBT CRISIS LENDS SUPPORT.
CRUDE OIL GAINS ON FORECAST STOCKPILE DROP AS CYCLONE BUILDS IN GULF OF MEXICO.
COPPER FIRMS ON SUPPLY FEARS.
DOMESTIC OIL AND OILSEED TRADE STEADY.

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NCDEX Agri Commodity Market Updates Today

Pepper futures may remain sideways. Black pepper un-garbled is sold at Rs 30,400 per quintal and MG-1 at Rs 31,400 a quintal. Cardamom futures may trade sideways. Turmeric futures may remain sideways taking support above 5,600 levels. Domestic oilseeds may trade with bearish sentiments. Bearish crude oil prices may keep the refined soy oil futures in a range.

Guar Seed futures have made a bounce back on Tuesday after witnessing a sharp fall in previous session. Expected pick up in exports at the lower levels is supporting the prices and traders expect medium term bullishness for the commodity rates in coming weeks.

Chana futures are trading lower extending their losses for another day on profit booking. Though, festive demands are likely to support the rates in coming week. Also reports of lower global production for pulses are likely to keep trend firm for the Indian markets.

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MCX Commodity Market Updates Today | MCX Gold Tips

Gold and silver futures may remain downside owing to sharp drop in prices in the previous session of comex. Base metals may remain range bound and flatline, ahead of end-week Fed meeting. Copper futures may trade with a positive bias. Crude oil futures may remain sideways.

MCX Silver is trading 0.6% higher today at Rs 60,192/kilo, registering intraday high of Rs 60,880 and low of Rs 59,760. MCX silver prices ended 6% lower yesterday.

Precious metals are trading lower on COMEX today.
Base metals are higher on International bourses today.
Crude oil is trading higher on NYMEX today.

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FREE MCX TIPS & TREND TODAY

Historic run in gold prices may persist as it touched the landmark of USD 1,900 in COMEX. MCX Gold can trade in range of 27,600-28,500 while MCX Silver can trade in range of 64,000-68,000. Spot gold soared to an all-time high above USD 1,910 on Tuesday. 

Base metals may also trade sideways with negative bias. Copper futures fell to their lowest levels in more than one week as worries about a slowdown in the US. Copper may again test the support of 390 while lead may tumble further lower towards 102-103 in MCX. 

Crude oil may remain in green territory tracking positive international markets. Oil traded near a three-day high in New York. Crude oil may test USD 86 in NYMEX and 3,900 in MCX.

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