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Natural Gas futures jumped by more than 3 per cent in the domestic market on Monday as investors and speculators booked fresh positions in the energy commodity tracking a bullish trend internationally where prices rose to an eight-week high on hopes that unseasonably cold weather in parts of the US may bolster demand for the heating fuel and ease a supply glut. 

The MDA Weather Services predicted below normal temperatures across most of the eastern US from April 9 through April 13. 

About 50 per cent of US households use natural gas for heating purposes. At the MCX, Natural Gas futures for April 2016 contract closed at Rs 133.9 per mmBtu, up by 3.2 per cent, after opening at Rs 130.9, against the previous closing price of Rs 129.7. It touched an intra- day high of Rs 137.3.

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Ncdex chana live update

Chana prices closed higher 4 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the traders enlarged their holdings in the commodity on account of the good demand in the market.

 At the NCDEX, chana futures for April 2016 contract closed at Rs. 4,788 per quintal, up by 4 per cent, after opening at Rs. 4,742 against the previous closing price of Rs. 4,604. 

It touched the intra-day high of Rs. 4,788. Moreover, the restricted arrivals of the commodity in the physical market due to lower estimated output also influenced the chana prices. 

India is the largest producer of chickpea followed by Pakistan, Turkey and Iran. India produces around 6 to 8 million tonnes and contributes around 70 per cent of the total world production.

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Gold held losses from a two-day decline on Tuesday on worries the Federal Reserve will hike U.S. interest rates earlier than market expectations and on outflows from bullion-backed exchange traded funds.

FUNDAMENTALS

*Spot gold was little changed at $1,215.55 an ounce by 2345 GMT, after dropping 1.4 percent in the past two sessions.

* Gold had posted its biggest quarterly rise in nearly 30 years in the March quarter, rallying 16 percent as expectations faded that the Fed would move to normalise interest rates due to concerns over the global economy. The U.S. central bank raised rates in December for the first time in nearly a decade.

* The metal is highly exposed to rising rates, which lift the opportunity cost of holding non-yielding assets, while boosting the dollar.

* Gold's decline began after data on Friday showed non-farm payrolls rising by 215,000 last month, higher than expectations of 205,000, underscoring the strength in the U.S. economy.

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Today's Mustard seed Market Update By MarketMagnify

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Mustard seed prices closed higher by 2.22 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the decline in the supply for the commodity in the major markets. 

At the NCDEX, mustard seed futures for April 2016 contract closed at Rs. 4,288 per quintal, up by 2.22 per cent, after opening at Rs. 4,251 against the previous closing price of Rs. 4,195. It touched the intra-day high of Rs. 4,344. 

India produces 5.5 million MT to7 million MT annually and about 0.15 million MT is retained for sowing and direct consumption as seed which leaves about 4.8-5.1 million MT for crushing and extracting oil.

Today's Coriander Market Update By MarketMagnify

Coriander prices rose by 2.42 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the limited stocks on account of restricted arrivals from the major growing belts. 

At the NCDEX, coriander futures for April 2016 contract was trading at Rs. 7,272 per quintal, up by 2.42 per cent after opening at Rs. 7,085 against the previous closing price of Rs. 7,100. It touched the intra-day high of Rs. 7,300 till the trading. 

Sentiment improved further as the investors enlarged their holdings tracking the surge in the demand for the commodity. Coriander is common in South Asian, Middle Eastern, Central Asian, Mediterranean, Indian, Tex-Mex, Latin American, Portuguese, Chinese, African, and Scandinavian cuisine.

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Copper News Update By MarketMagnify

Copper futures retreated during noon trade in the domestic market on Monday tracking a bearish global trend as robust US jobs data for March raised concerns that the US Federal Reserve may hike interest rates in the near-term while worries over the demand outlook from China, the world’s biggest metals consuming nation, remained. 

The US economy added 215,000 jobs in March, compared to a revised 245,000 in February, and topping analysts’ estimates of 205,000 while wages picked up, a sign that the labour market recovery in the world’s biggest economy remains on a strong footing in the face of a global slowdown. 

At the MCX, Copper futures for April 2016 contract were trading at Rs. 316.80 per 1 kg, down by 0.55 per cent, after opening at Rs 318.45, against the previous closing price of Rs 318.55. It touched the intra-day low of Rs. 316.45.

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Today'Jeera Market Update

Jeera prices closed lower by 0.45 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. 

At the NCDEX, jeera futures for April 2016 contract closed at Rs. 15,495 per quintal, down by 0.45 per cent, after opening at Rs. 15,635 against the previous closing price of Rs. 15,565. 

It touched the intra-day low of Rs. 15,470. Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year. 

India exports Jeera mainly to the US, UK, UAE, Japan, Brazil, Bangladesh, Singapore and many other countries. Other Major exporters are Syria and Turkey.

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Today's Chana Market Update By MarketMagnify

Chana prices closed higher 2.03 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the traders enlarged their holdings in the commodity on account of the good demand in the market. 

At the NCDEX, chana futures for April 2016 contract closed at Rs. 4,614 per quintal, up by 2.03 per cent, after opening at Rs. 4,520 against the previous closing price of Rs. 4,522. 

It touched the intra-day high of Rs. 4,615. Moreover, the restricted arrivals of the commodity in the physical market due to lower estimated output also influenced the chana prices. 

India is the largest producer of chickpea followed by Pakistan, Turkey and Iran. India produces around 6 to 8 million tonnes and contributes around 70 per cent of the total world production.

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Today's Natural Gas Market Update

Natural Gas ended in the red in the domestic and overseas market on Friday as investors and speculators cut positions in the energy commodity on worries that the market remains oversupplied.

 At 2.468 trillion cubic feet in the week ended March 25, 2016, total gas storage levels in the US remain nearly 52 per cent above average for this time of year as a moderate winter suppressed demand for the heating fuel while rising US production also bolstered supplies. 

At the MCX, Natural Gas futures for April 2016 contract closed at Rs 129.7 per mmBtu, down by 0.15 per cent, after opening at Rs 130.2, against the previous closing price of Rs 129.9. It touched an intra- day low of Rs 128.8.

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Gold futures tumbled by almost 2 per cent in the domestic market on Friday tracking weakness in the yellow metal overseas as better than expected US jobs data infused optimism over the health of the world’s biggest economy, eroding the safe haven appeal for the bullion, while keeping the door open for further tightening of interest rates by the US Federal Reserve later this year following a maiden hike in borrowing costs since 2006 in December, dimming the lure for gold as a store of value.

 The US economy added 215,000 jobs in March, compared to a revised 245,000 in February, and topping analysts’ estimates of 205,000. Meanwhile, a US factory gauge expanded for the first time in seven months in March, also offering evidence of strength in the American which may convince the Fed to proceed with gradual rate hikes. 

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