Wednesday, June 12, 2013
Market Overview
Continued weakness in value of domestic currency
against the US dollar supported the edible oils prices
to extend further gains. Soybean arrivals were
90,000- 95,000 bags including 40,000 bags in
Madhya Pradesh at Rs 3,800-3,810 ex-mandi and Rs
3,890-3,890 for plant delivery. Mustard seed
arrivals were 1.80-1.85 lakh bags and the prices
were Rs3140 – Rs3625
Turmeric futures hit a contract low on Tuesday as
the timely progress of the monsoon rains raised
hopes of better sowing, while higher carry-forward
stocks also weighed. The monsoon is advancing and
a few places in Andhra Pradesh are expected to get
rainfall
for
the
next
three
days,
India's
meteorological department said in a statement on
its website.
J
eera futures fell on high spot supplies,
weak local demand and good progress of the
monsoon
Weak demand and increased arrivals have pulled
down chana prices in local mandis in the past one
week by Rs 150-175 a quintal. Bumper production,
weak demand from ‘besan’ manufacturers and rise
in selling pressure by stockists have caused a
downtrend in its prices and in the past one-and-a-
half months, its prices have declined by about Rs
750
Guar gum prices hit a daily lower limit of four per
cent in the futures trading today on the back of all
round selling by traders, guided by weak spot
market sentiment. Besides mounting of stocks,
heavy supplies against fall in demand in physical
markets mainly led to the fall of Guar gum prices
India's wheat production for the 2013-14 crop year
has been lowered to 87 million metric tons on lower
than anticipated yields in major wheat growing
states due to abnormal rains in February and March,
according to the U.S. Department of Agriculture
Commodity
Chana
Chilli
Turmeric
Jeera
Soyabean
Soyoil
R M Seed
CPO
Sugar
Wheat
Mentha Oil
Castor Seed
Potato
Exchange
NCDEX
NCDEX
NCDEX
NCDEX
NCDEX
NCDEX
NCDEX
MCX
NCDEX
NCDEX
MCX
NCDEX
MCX
Expiry
July
July
July
July
July
July
July
June
July
July
June
July
June
Price
3213
5892
5308
13102
3780
694.80
3552
482.20
3134
1637
922.90
3628
910.7
%
Change
0.68%
-2.29%
-1.85%
-0.23%
-0.12%
-0.12%
-0.17%
0.91%
0.90%
-0.06%
-0.2%
-0.87%
-0.39%
Chart of the Day – Soybean
As shown on the daily chart, NCDEX Jeera is
consolidating in a broad range of 12760 –
13620 since past one month. As long as 12760
is held on the downside, buying on dips is
recommended
1
Please refer to disclaimer at the end of the report.