Market Overview
Turmeric traded lower on expectation of higher
production at the growing regions. Though,
anticipation of good domestic as well as upcountry
demand ahead of festival season capped some losses.
Crude palm oil prices fell as speculators booked profits
at prevailing higher levels amid fall in demand in spot
market. Ample stocks following higher supplies from
producing belts too weighed on crude palm oil futures.
Mentha oil prices were in futures market as
participants widened their holdings on the back of
rising demand from consuming industries at the spot
market. Tight stocks position following restricted
arrivals from major producing belts of Chandausi in
Uttar Pradesh also extended support to mentha oil
prices uptrend. Fresh positions built up by speculators,
driven by rising demand from consuming industries in
the spot markets against restricted supplies from
Chandausi led to the rise in prices.
Jeera futures edged lower on expectation of good
sowing for jeera in Gujarat and Rajasthan as the sowing
season commenced next month. Though, some losses
were capped due to strong domestic as well as export
demand at the spot market.
Malaysian palm oil futures reversed gains from the
more than two-year high reached the previous day, as
the market reacted to revised industry data and a
strengthening ringgit.
U.S. wheat were narrowly higher as traders covered
short positions after prices for each crop fell to the
lowest levels in more than a week. Soybeans eased for
a second session as supplies from a freshly-harvested
record U.S. crop hit the market, although losses were
limited by strong Chinese demand.
Commodity
Turmeric
Jeera
Soybean
Soy Oil
R M Seed
CPO
Sugar
Wheat
Mentha Oil
Cotton
Exchange
NCDEX
NCDEX
NCDEX
NCDEX
NCDEX
MCX
NCDEX
NCDEX
MCX
MCX
Expiry
Nov
Nov
Nov
Nov
Nov
Oct
Dec
Nov
Oct
Oct
Price
7198.0
17315.0
3102.0
671.1
4517.0
535.5
3485.0
1900.0
893.3
19040.0
%
Change
-0.4%
-0.5%
-0.6%
-0.3%
-0.5%
-0.7%
0.2%
1.6%
0.2%
0.4%
Chart of the Day: NCDEX RSO
As shown, NCDEX RSO has recently breached consolidation
range marked by C –C1 and is sustaining well above the
same indicating bullish move ahead. As long as immediate
support near Rs.664-659.50 zone is held, dip buying is
advised targeting Rs.682 on the higher side.
1
Please refer to disclaimer at the end of the report.