Ref.soyaoil Market Update

Ref.Soyaoil settled down by -0.84% at 636.3 tracking weakness in spot demand amid profit booking. However downside seen limited after USDA in its WASDE report trimmed Indian soyoil production by 5.5%. 

India soybean oil imports climbed 99.39% in September after local demand of edible oils rose due to lack of domestic crushing, data release from the Solvent Extractors Association (SEA) of India showed. 

 India's soyoil imports surged to 321,062 tons in September compared to 161,016 tons for the same period a year ago, data released by the SEA of India showed. India is being used as a dumping ground for excessive supply of edible oils in the world market.
Trading Ideas:
Ref.Soya oil trading range for the day is 629-647.
Ref soyoil prices ended with losses tracking weakness in spot demand amid profit booking.
However downside seen limited after USDA in its WASDE report trimmed Indian soyoil production by 5.5%.
India soybean oil imports climbed 99.39% in September after local demand of edible oils rose due to lack of domestic crushing.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 638.9 rupees per 10 kgs.





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NCDEX TURMERIC MARKET UPDATE

Turmericsettled down by -0.98% at 8102 tracking weakness in spot demand amid heavy arrivals from producing belts. Good rains in second part of September in southern peninsula region may enhance the turmeric production and quality. Turmeric sowing area reported high in Maharashtra and Tamil Nadu state during the current sowing period. As per dept of commerce data, turmeric exports during April-Jul, 2015 pegged at 32,158 tonnes while the export for the 2014-15 is 90,738 tonnes compared to 78,360 tonnes in FY14. Turmeric sowing In AP, is recorded at 15,664 hectares increase over last years’ acreage as well normal sowing area progress however in Telangana, the sowing area is lower than the normal sowing area at 40,823 hac compared to 43,470 hac last year.
Trading Ideas:
Turmeric trading range for the day is 7948-8328.
Turmeric prices ended with losses tracking weakness in spot demand amid heavy arrivals from producing belts.
Good rains in second part of September in southern peninsula region may enhance the turmeric production and quality.
NCDEX accredited warehouses turmeric stocks dropped by 30 tonnes to 10303 tonnes.
In Nizamabad, a major spot market in AP, the price ended at 8171.05 rupees dropped -18.1 rupees.


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MCX COPPER TIPS

Copper settled up 0.16% at 349.75 recovered as incremental cuts to mine supply and a revival in China demand underpinned a modest rise in prices. London copper prices fell to six year lows in late August and have since lifted as northern hemisphere demand revives after summer. China's monthly copper imports surged a third in September, hitting a 20-month high after staying flat in the previous three months, as price differentials favoured spot purchases and some shipments arrived ahead of the week-long Oct. 1 holiday. The dollar rose against a basket of currencies on Thursday as underlying domestic inflation strengthened more than expected in September, reviving some expectations the Federal Reserve would raise interest rates this year.
Trading Ideas:
Copper trading range for the day is 345.3-353.5.
Copper gains on hopes for further production cuts from miners, but a rebound in the dollar kept a lid on gains.
Stocks in LME-approved warehouses fell to a seven-month low of 293,650, down nearly 21 percent from a peak in late August.
Worries over China have also cut expectations for copper prices next year to $5,450 a tonne, down 9 percent from the end of July.


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Gold hovers below 3-1/2 month high, but eyes weekly gain

Gold hovered below a 3-1/2-month high on Friday after strong US inflation data supported the dollar, but the metal was set to post its biggest weekly jump in four weeks on bets the Federal Reserve will not hike interest rates this year.

 FUNDAMENTALS

 * Spot gold was steady at USD 1,181.80 an ounce by 0040 GMT. It had hit a 3-1/2-month high of USD 1,190.63 in the previous session, but ended the day lower.
* The metal snapped a four-day rally on Thursday after data showed a surprise 0.2-percent rise in the September US core consumer price index, boosting the year-on-year gain to 1.9 percent and pushing it closer to the Fed's 2-percent goal. 

* The data provided some relief to the dollar, which has been battered by a run of poor US indicators, helping it move away from seven-week lows hit earlier in the week.

 * But gold was on track for a 2-percent weekly jump as markets believe recent weak US data in the backdrop of sluggish data out of China would prompt the Fed to stand pat on rates until next year. 

* Gold benefits from low interest rates that cut the opportunity cost of holding non-yielding assets. 

* Many Fed watchers are exasperated by the mixed messages from the US central bank in recent weeks. Fed Chair Janet Yellen and other officials have said they expect a rate hike will be needed by the end of this year, but two Fed governors this week urged caution. 

* Fed policymakers are not as divided as it may appear and are generally operating under the same framework for determining when to raise interest rates, one Fed official said on Thursday, while another said the differences of opinion reflect the countervailing economic data.


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NCDEX MAIZE MARKET UPDATE

Maize settled up by 0.81% at 1366 amid short covering tracking firmness in spot demand and overseas prices. U.S. farmers have finished harvesting 42 percent of this year's bumper corn crop, up from 27 percent a week ago and nearly matching the five-year average of 43 percent, the U.S. Department of Agriculture said. In A.P, new crop arrivals with high moisture of around 14-28% have entered the market. Stock of maize in the Government’s warehouse is almost empty. The stock position was around 40,000 MT during the corresponding period of last year. Market is likely to trade slightly weak till the fresh demand for dry material arise.

Trading Ideas:
Maize trading range for the day is 1339-1381.
Maize prices ended with gains amid short covering tracking firmness in spot demand and overseas prices.
In A.P, new crop arrivals with high moisture of around 14-28% have entered the market.
NCDEX accredited warehouses maize stocks dropped by 297 tonnes to 50 tonnes.
In Nizamabad maize prices dropped -28.4 rupee to end at 1366.6 rupees per 100 kg.


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SOYABEAN MARKET UPDATE

Soyabean settled up by 3.4% at 4009 on supply worries in domestic as well as international market and on robust China demand. The United States department of agriculture (USDA) trimmed 2015-16 United States soybean production forecast and also cut forecast for ending stockpiles, the department said in its World Agriculture Supply and Demand Estimates report. The USDA cut US, the world's biggest bean grower, 2015-16 production estimates to 105.8 million tons compared to 107.1 in the previous month estimates and 106.9 million tons a year ago.
Trading Ideas:
Soyabean trading range for the day is 3880-4090.
Soyabean prices ended with gains on supply worries in domestic as well as international market and on robust China demand.
China September Soybean Imports jumped 44% to 7.26 million tons on year while imports during Jan-Sep climbed 13% to 59.65 million tons.
Export of soybean meal in September month jumped near seven fold high to 6,886 tons compared to 868 tons for the corresponding period a year ago.
At the Indore spot market in top producer MP, soybean gained 50 rupee to 3880 rupee per 100 kgs.


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Oil drops on US stockpile build, global glut

Crude oil futures extended their losses on Thursday after notching up declines every day so far this week, hit by growing US stockpiles and an expanding global glut. US crude CLc1 had fallen 25 cents, or 0.54 percent, to USD 46.39 a barrel as of 0130 GMT, after settling the previous session down 2 cents at USD 46.64. 

Front-month Brent LCOc1 for November delivery inched down 1 cent to USD 49.14 a barrel, having ended the last session down 9 cents at USD 49.15. 

"(US oil) remained under pressure as the focus turns to US crude inventories. The sustained period of lower crude oil prices has started to impact the credit profile of companies," ANZ said in a note on Thursday.

 Data from industry group the American Petroleum Institute on Wednesday showed that US crude inventories rose by 9.4 million barrels in the week to Oct. 9 to 465.96 million, compared with analyst expectations for an increase of 2.8 million barrels. 

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.4 million barrels, API said. But some analysts were optimistic on the long-term outlook for oil markets.

 "(Our) base case price scenario results in Brent prices reaching USD 85 per barrel by 2020, around USD 20 higher than the current 2020 futures strip of about USD 65 per barrel," Barclays said in a report.

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Gold futures spurt Rs 186 on global cues

Gold rose by Rs 186 to Rs 27,165 per 10 grams in futures trading on Wednesday as speculators widened positions, tracking a firming trend overseas. 

At the Multi Commodity Exchange, gold for delivery in December spurted Rs 186, or 0.69 percent, to Rs 27,165 per 10 grams, in a business turnover of 836 lots. 

Similarly, the metal for delivery in far-month February was also trading higher by Rs 181, or 0.67 percent, to Rs 27,370 per 10 grams in nine lots. 

Market analysts said speculators enlarged their positions on the back of a firming global trend as investors see less chance of higher US borrowing costs this year. 

Globally, gold climbed as much as 0.5 percent to USD 1,174.81 an ounce in Singapore, the highest level since July 6.

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Mustard seed update

Mustard Seed settled up by 1.87% at 5009 on improved demand and on speculation of lower supply in international and domestic market. The rise in mustard oil demand by major consuming region of eastern India during the festive season is encouraging higher buying by crushing units. Prices were supported on supply worries after Indian Meteorological Department (IMD) reported that from the beginning of Oct till date Rajasthan has not received any rainfall which is likely to affect rabi sowing of rm seed. Prices were also supported on supply worries after USDA reported global rapeseed production forecast to decline 3.5 million tons in 2015/16 as a slight decrease in area reduces total output to 68.1 million tons.

Trading Ideas:
Rmseed trading range for the day is 4855-5143.
Mustard seed prices gained on improved demand and on speculation of lower supply in international and domestic market.
USDA reported global rapeseed production forecast to decline 3.5 million tons in 2015/16.
NCDEX accredited warehouses mustard seed stocks dropped by 159 tonnes to 48522 tonnes.
In the Alwar spot market in Rajasthan the price gained 71.85 rupee to 5088.4 rupees per 100kgs.


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NCDEX MAIZE UPDATE

Maize settled down by -0.44% at 1355 tracking weakness in spot demand and overseas prices amid expectations of rapid progress of the U.S. harvest. New crop arrivals with high moisture level of around 18-25% have entered the market. Prices are ruling as per moisture level ratio and is weighing on market sentiments but this down side could be limited as poultry feed makers have reduced its ratio in poultry feed. In A.P, new crop arrivals with high moisture of around 14-28% have entered the market. Stock of maize in the Government’s warehouse is almost empty. The stock position was around 40,000 MT during the corresponding period of last year.
Trading Ideas:
Maize trading range for the day is 1338-1382.
Maize prices dropped tracking weakness in spot demand and overseas prices amid expectations of rapid progress of the U.S. harvest.
New crop arrivals with high moisture level of around 18-25% have entered the market In A.P, new crop arrivals with high moisture of around 14-28% have entered the market.
In Nizamabad maize prices dropped -55 rupee to end at 1395 rupees per 100 kg.

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Zinc trading range for the day is 115.3-119.9

Zinc settled down -0.72% at 117.40 slid on Tuesday as mixed trade data revived fears about China's economy, despite showing a surge in imports of the metal. LME Zinc slid 1.3 percent to $1,820. While the metal soared 10 percent on Friday in its largest single-day gain in at least a decade following the Glencore supply cuts. Data released earlier showed that China's trade surplus widened to $60.3 billion last month from $60.2 billion in August, compared to estimates for a surplus of $46.8 billion.
Trading Ideas:
Zinc trading range for the day is 115.3-119.9.
Zinc prices declined after latest trade figures out of China added to concerns over the health of the world's second-biggest economy.
Data showed that China's trade surplus widened to $60.3 billion last month from $60.2 billion in August, compared to estimates for a surplus of $46.8 billion.
Chinese exports slumped 3.7% from a year earlier, better than forecasts for a decline of 6.3%




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Crudeoil Trading Range For The Day is 2980-3214

Crudeoil settled up 0.46% at 3089 closed moderately higher on Tuesday, following a volatile, see-saw day of trading after the IEA issued a bleak outlook for the next year with forecasts of minimal reductions from record-levels of global oversupply. While Crude oil prices fell from the day's high amid concerns about rising global supplies. With OPEC determined to oversupply markets despite waning demand, crude oil prices have tumbled from multi-month highs since Friday. On Tuesday, the Paris-based IEA said it expects non-OPEC supply to fall by 500kbpd in 2016, the sharpest decline in two decades.
Trading Ideas:
Crudeoil trading range for the day is 2980-3214.
Crude oil edged up but prices pared gains after the International Energy Agency rekindled fears that the market remains over supplied.
The IEA said the world oil market would remain over supplied for at least another year despite falls in output from non-OPEC producers.
OPEC’s monthly oil market report showed a daily output of 31.57 million barrels, the highest since 2012.


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Today Jeera Market Update

Jeera settled up by 0.56% at 16195 on account of good domestic demand at the spot market ahead of festival season.
Though, expectation of bumper sowing in Gujarat due to good rains during last week of September, capped some gains.
As per Department of commerce data, exports from India in first four months of FY 2015-16 is 31,419 MT.
As per latest spice board press release, cumin export is stood at 155,500 tonnes for 2014-15 period and earned foreign exchange worth Rs 1,838.20 crore while in 2013- 14, the figures stood at 121,500 tonnes valued at Rs 1,600 crore.
Trading Ideas:
Jeera trading range for the day is 16020-16420.
Jeera prices gained on account of good domestic demand at the spot market ahead of festival season.
Though, expectation of bumper sowing in Gujarat due to good rains during last week of September, capped some gains.
NCDEX accredited warehouses jeera stocks gained by 51 tonnes to 5864 tonnes.
In Unjha, a key spot market in Gujarat, jeera edged up by 61.2 rupees to end at 16464.55 rupee per 100 kg.


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Turmeric trading range for the day is 7972-8296

Turmeric settled up by 0.95% at 8110 due to good demand from stockiest and upcountry exporters to meet the winter season and festive demand.
However, some gains were limited by higher production due to good rains in second part of September in southern peninsula region.
Good rains in second part of September in southern peninsula region may enhance the turmeric production and quality.
Turmeric sowing area reported high in Maharashtra and Tamil Nadu state during the current sowing period.
However, deficient monsoon in August and early September may affect production in rainfed areas.
As per dept of commerce data, turmeric exports during April-Jul, 2015 pegged at 32,158 tonnes while the export for the 2014-15 is 90,738 tonnes compared to 78,360 tonnes in FY14.
At Erode market arrivals were reported at 6000 quintals, lower by 2000 quintals from previous day’s arrivals.
Trading Ideas:
Turmeric trading range for the day is 7972-8296.
Turmeric prices gains due to good demand from stockiest and upcountry exporters to meet the winter season and festive demand.

However, some gains were limited by higher production due to good rains in second part of September in southern peninsula region.
NCDEX accredited warehouses turmeric stocks dropped by 50 tonnes to 10421 tonnes.
In Nizamabad, a major spot market in AP, the price ended at 8030.4 rupees remains unchanged at0 rupees.


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Gold Near 3-Mth High As Investors Expect US Rate Hike Delay

Gold steadied near a three-month high on Tuesday, as investors pushed back expectations of a Federal Reserve interest rate hike to next year and on a weaker dollar. 

FUNDAMENTALS

 * Spot gold was little changed at USD 1,161.96 an ounce by 0037 GMT, after a two-day rally. It hit a three-month high of USD 1,169 in the previous session. 

* The dollar languished around three-week lows against a basket of currencies.

 * The Fed was expected to raise US rates for the first time in nearly a decade this year, but recent weak US data, concerns over Chinese growth and volatility in financial markets have prompted markets to shift rate hike views to early 2016. 

* The US central bank refrained from hiking rates at its last meeting in September. It holds two more policy meets in 2015: on Oct. 27-28, and then in December. 

* Higher rates could dent demand for non-interest-paying bullion, while boosting the dollar. 

* The Fed should hold off on any rate hike until it is clear that a global slowdown, trouble in China and other international risks will not push the US recovery off course, Fed Governor Lael Brainard said on Monday in one of the strongest defences yet of a go-slow approach to rate policy.

 * There could be sufficient economic data for the Fed to consider a rate hike at their meeting later in October but there will be a lot more data on hand in time for the December meeting, Atlanta Fed President Dennis Lockhart said on Monday.


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Gold Near 7-Week High As Traders See Delay In US Rate Hke

Gold was trading near its highest in seven weeks on Monday, bolstered by expectations the Federal Reserve will not hike US interest rates soon. 

FUNDAMENTALS 

* Spot gold was little changed at USD 1,156 an ounce by 0043 GMT, after gaining 1.6 percent in the previous session. 

* The metal climbed to USD 1,159.80 on Friday, its highest since Aug. 28, after minutes from the Fed's September policy meet showed that the central bank was deeply cautious about tightening monetary policy.

 * Weakness in the dollar, which fell to a three-week low on Friday, also helped support gold.

 * A delayed rate rise could support non-interest-paying gold, although uncertainty over the timing could weigh on prices in the near term. 

* Two influential Fed policymakers on Friday reinforced Fed Chair Janet Yellen's message that a rate hike is coming by year's end. 

* Fed policymakers are still likely to raise rates this year but that is "an expectation, not a commitment", and could change if the global economy pushes the US economy further off course, Fed Vice Chairman Stanley Fischer said over the weekend. 

* Recent weak US data and concerns over the global economy have prompted many to believe the first US rate hike in nearly a decade will not come this year.


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डॉलर में कमजोरी से कच्चा तेल उछला, सोने में मजबूती

डॉलर में गिरावट की वजह से सोने में तेजी आई है। शुक्रवार को सोना 7 हफ्ते के ऊंचे स्तर पर पहुंच गया था। फिलहाल कॉमेक्स पर सोने के भाव 1.20 फीसदी की बढ़त के साथ 1155 डॉलर के ऊपर है। जबकि चांदी 0.40 फीसदी की मजबूती के साथ 15 डॉलर के ऊपर दिख रही है। वहीं क्रूड में भी तेजी देखने को मिली है। नायमैक्स पर क्रूड का भाव 1 फीसदी से ज्यादा की उछाल के साथ 50 डॉलर के आसपास और ब्रेंट पर 0.54 फीसदी की बढ़त के साथ 53 डॉलर के ऊपर नजर आ रहा है।



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