Agri Commodity NCDEX Soyabean, Turmeric, Cardamom Live Updates

Soyabean :- Soybean futures are expected to trade on weaker note as prices may track cues from increasing arrival volume at major trading centres. Beside, expanding harvesting activities amid tumbling global prices may impact market sentiments negatively. However, demand is likely to improve due to ongoing festive season which may arrest the major losses.

Turmeric :- Trend remained weak for Turmeric with prices unable to hold onto the higher levels as traders waited for dips before initiating fresh demand in the mandi. . However in coming weeks, demand is expected to pick up at current rates that are quite low. Approaching festivals and rise in export demand from the Gulf countries will be supportive in near term. Latest reports from Erode in Tamil Nadu indicate a drastic fall in sowing in those regions due to a drought like situation this year.

Cardamom :- Cardamom futures are expected to trade in range bound levels for the day. Recent rainfall in Idukki district has been supportive for the crop that may weigh down the cardamom futures prices. Further, buying at the spot market has slow downed a bit due to higher prices and this may weigh the cardamom futures prices down. However, fall is expected to be limited on overall bullishness in the market. Expectations of good export demand for the Indian cardamom due to new crop as compared to old crop of Guatemala may support prices to trade higher.

MCX Agri Sugar updates for Today

Sugar Futures closed unchanged on Tuesday but the trend is looking positive on anticipation of good festival demand and reports that country may see tight supplies despite a 20% rise in output expected in 2017-18 (Oct-Sep), as ending stocks are seen tumbling to multi-year lows.

Moreover, imposing stock limits on sugar mills government is likely to allow import of 300,000 tn of raw sugar at 25-30% import duty. 

Indian Government Prepared to provide cheap gold to jewelers

In order to provide Gold easily to jewelers, interest rates on gold loans can be reduced and there is a possibility of importing gold on lease. The Prime Minister's Office has recommended this to the Finance Ministry.

According to sources, the proposal sent by the Prime Minister's Office to the Finance Ministry has recommended that interest rates on Gold loans should be low, not to charge premium on gold loan, to provide a Gold Loan for a longer period and Gold on Lease Allow importing. According to the PMO, allowing the import of gold on lease will not be required to pay the full price of gold and there will be a significant reduction in current account deficit. Explain that jewellers take a gold loan from the bank. At present, gold lends 2 to 4 per cent interest on loan.

Gold Silver Trading Volatile for Today

In the international market, the pressure of profit booking has been seen in Gold and there is a slight weakness in gold prices. In fact, the figures of jobs in GDP growth and private sector in the US have been better than the estimates.

At present MCX Gold  is trading at Rs 29420 with a drop of 0.5%. MCX Silver is trading below 0.65 per cent below Rs 39,500.

Ref Soya Oil Fall today due to Good growth soya crop

Prices fell for Ref Soy Oil as rains in growing regions for Soybean kept trend down for the oil complex sector overall. Fall in International markets too pressurised prices further. A prospect of Govt to further raise import duty is often supporting the market. Meanwhile high prospects of a rise in global ending stocks offers resistance in pushing soya oil higher.

Global markets are maintaining an overall positive tone due to improving demand outlook for bio diesel consumption, and chances of drop in yields of the domestic or the US crop. The recently released bearish reports from the USDA regarding higher global oil seeds production are keeping uptrend limited, unless we get reports of drop in the US soybean yields. The details of the USDA report are mentioned in Soybean section. International market reports are bearish while Indian reports are firm for the counter.

Chana Commodity prices surged by 3.99 percent Today

Chana prices surged by 3.99 per cent to hit upper circuit at Rs 6,173 per quintal in futures trading today after prices spurted at spot markets on strong demand.

Market analysts attributed the sharp rally in Chana futures to widening of positions by participants on the back of strong demand in physical market. Restricted supplies from producing regions also boosted the price rise.

Guar Seed Overall fundamentals look strong

Overall fundamentals look strong however with rising export demand amidst concerns on the production front from the recent crop losses from excess rains in Rajasthan a few weeks back. With prices at very high levels, markets found some strong resistance. Prospects of rains in Rajasthan too limited the uptrend for the commodity. Low stocks too supported prices as markets shot up increased exports of guar during last year have been encouraging due to increasing rig count in US.

Good export demand checks the down moves meanwhile. As per reports from APEDA, improved export demand of guar in quantity and monitory terms has been noted.

Crude Palm Oil or cpo MCX Updates Agri Commodity

MCX CPO closed higher for the 4 th trading session on Monday tracking firm International prices and expectation of higher demand for coming festival season. 

Moreover, higher import duty also supports prices. Recent, government raised import duty on crude palm oil to 15% from 7.5% and on refined palm oil to 25% from 15% but higher stocks in the country is having bearish impact.

Turmeric futures are expected to trade in negative note for the day

Turmeric futures are expected to trade in negative note for the day. Supplies are increasing slowly at the spot market in anticipation of good demand ahead of festive season.

However, buying activities are not picking up as expected which may weigh down the futures market sentiments. Sowing has improved well in Telangana after good rainfall; however is still weak in other major growing states such as Andhra Pradesh and Tamil Nadu.

Sugar Agri Commodity Updates Trading

Sugar Futures closed unchanged yesterday on expectation of good physical demand. 

The government is considering allowing imports of 3-5 lt of sugar at a concessional duty of 25%, as it weighs a raft of proposals to boost supplies in the build-up to the festival season, especially in southern states where a deficit is anticipated in September and October.

Stocks Trading Advice 

Agri TMC Turmeric Updates

Profit booking limited the uptrend for Turmeric even as overall sentiments remained firm with festive season domestic demand from North India and the exports are expected to rise in coming weeks.

Low sowing reports, falling stocks and pickup in demand are factors that are supporting Turmeric prices. Early arrivals and better prospects for rains were considered beneficial for the crop sowing

Cardamom MCX Agri Updates for Today Trading

Cardamom futures are expected to trade in range bound levels for the day. Expectations of increase in supplies after the commencement of second round of picking activities amid good rainfall in Idukki district may weigh down the prices.

However, overall weaker monsoon rainfall in Idukki district and in other major cardamom growing regions that has thinned down the expectations of good crop may support positive trade.