Daily Mcx Market Update On Natural Gas

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Natural Gas futures soared by over 2 per cent in the domestic market on Thursday as investors and speculators booked fresh positions in the energy commodity as forecast of a severe winter storm across the US East Coast raised the prospect of higher heating demand in the world’s biggest economy. 

About 49 per cent of US households use natural gas for heating purposes. November to March is the peak US gas heating season. Meanwhile, US gas supplies fell 178 billion cubic feet to 3.297 trillion cubic feet in the week ended January 15, 2016. The five-year average drop for the same period was 160 billion cubic feet while a year ago stockpiles fell 220 billion cubic feet. 

At the MCX, Natural Gas futures for January 2016 contract closed at Rs 145.6 per mmBtu, up by 2.25 per cent, after opening at Rs 144, against the previous closing price of Rs 142.4. It touched an intra-day high of Rs 148.6.

Live Mcx Market News On Chana

Chana prices closed lower by 0.51 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the steady sowing progress of pulses along with high supplies in major producing states. At the NCDEX, chana futures for April 2016 contract closed at Rs. 4,253 per quintal, down by 0.51 per cent, after opening at Rs. 4,275 against the previous closing price of Rs. 4,275. It touched the intra-day low of Rs. 4,220. 

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 Mcx Market Update On Crude oil

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US crude oil prices were stable in early Asian trading on Friday after bouncing away from 12-year lows the previous day as rallying financial markets gave some traders reason to cash in on record short positions. 

Front-month West Texas Intermediate (WTI) crude futures CLc1 were trading at USD 29.82 per barrel at 0056 GMT (1956 EDT), up 29 cents from their last settlement and over USD 3.50 above 2003 lows reached earlier this week. 

Traders said that a lot of people with open short positions in the market, which profit from falling prices, had decided to cash in when prices had fallen 30 percent between the beginning of the year and the middle of this week, and flip into buying at low costs, lifting prices.

Mcx Market News On Nickel

Nickel futures were trading mildly higher during noon trade in the domestic market on Thursday amidst a pickup in physical demand, by alloy-makers, for Nickel, in the domestic spot market. However, the gains in the industrial metal were curbed by fears over a gloomy demand outlook from China, the world’s biggest metals consumer, as an ongoing stock rout in the country threatened to spread to other parts of the economy.

China’s stock markets declined for a second straight day with benchmark Shanghai Composite plunging over 3 per cent as traders seemed unsure over policymakers’ ability to manage an economic slowdown and tackle financial volatility.

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NCDEX LIVE MARKET UPDATE ON MAIZE

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Maize settled down by -0.14% at 1460 tracking weakness in spot demand and overseas prices. As per Government data, in Maharashtra, maize has been sown in 2.07 lakh hectares higher by 0.10 lakh hectares than the corresponding period of last year.As per Government data, in Gujarat, maize has been sown in 0.69 lakh hectares lower by 0.27 lakh hectares than the corresponding period of last year

Trading Ideas: Maize trading range for the day is 1447-1469.
Maize prices ended with losses tracking weakness in spot demand and overseas prices.
As per Government data, in Gujarat, maize has been sown in 0.69 lakh hectares lower by 0.27 lakh hectares than the corresponding period of last year.
NCDEX accredited warehouses maize stocks gained by 59 tonnes to 22933 tonnes.
In Nizamabad maize prices gained 2.1 rupee to end at 1520.6 rupees per 100 kg.

Mcx Market Report On Jeera

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Jeera prices closed higher by 0.59 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors increased their holdings in the commodity in the midst limited arrivals from growing regions. At the NCDEX, jeera futures for April 2016 contract closed at Rs. 13,705 per quintal, up by 0.59 per cent, after opening at Rs. 13,775 against the previous closing price of Rs. 13,625. It touched the intra-day high of Rs. 13,780. 

Sentiment improved further as a result of reduced domestic supplies in the physical markets and some export enquiries. 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.

Daily Mcx News On Gold

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Gold dropped early on Thursday in Asia, slipping from a 1-1/2-week high, as battered stocks bounced back along with US crude.

FUNDAMENTALS 

*Spot gold was off 0.2 percent at USD 1,099.40 an ounce by 0039 GMT, after touching USD 1,109.20 on Wednesday, its highest since January 8.
*US gold for February delivery slipped 0.6 percent to USD 1,099.60 an ounce.
*Bullion has benefited from the risk-averse sentiment that has dragged equities and oil to multi-year lows and pushed investors towards assets deemed as safe havens.

MARKET NEWS 

*Asian shares and the dollar edged higher, but investors remained cautious as another shakeout on Wall Street and oil prices suggested volatility in financial markets will continue to temper risk appetite.

*US crude oil stabilised after hitting fresh 2003 lows the session before, but analysts said a persistent global glut would keep pressuring prices.

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NCDEX Mentha Oil News

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Mentha oil settled up by 0.29% at 877.8 amid rising demand from consuming industries in the spot market. Besides, restricted arrivals from the major producing belts of Chandausi in Uttar Pradesh also supported mentha oil prices. However with cooler winters anticipated for many parts of India this year, the demand may soon start picking up from the pharmaceutical sector. Global demand too is expected to rise at these lower levels in coming weeks. 

Trading Ideas:
Menthaoil trading range for the day is 871.9-882.9.
Mentha oil spot at Sambhal closed at 1019.30 per 1kg. Spot prices is up by Rs.3.30/-.
Mentha oil prices ended with gains amid rising demand from consuming industries in the spot market.
Besides, restricted arrivals from the major producing belts of Chandausi in Uttar Pradesh also supported mentha oil prices.
As per market sources, the overall production is still 70% lower from the previous year of 50,000 tons.

Today's Mcx Market News for Copper

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Copper settled up 0.72% at 298.75 after China's quarterly economic growth met expectations, calming fears over a deeper than expected slowdown. Official data released earlier showed that China’s economy grew 6.8% in the fourth quarter from a year earlier, the weakest pace of growth since the first quarter of 2009. That was in line with market expectations and down from growth of 6.9% in the previous three months.
Trading Ideas: 

Copper trading range for the day is 294.8-304.8.
Copper prices jumped after China's quarterly economic growth met expectations, calming fears over a deeper than expected slowdown.
Official data released earlier showed that China’s economy grew 6.8% in the fourth quarter from a year earlier, the weakest pace of growth since the first quarter of 2009.

Mcx Market Update On Gold

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Gold edged higher on Wednesday as a further fall in equities and oil burnished bullion's safe-haven draw, although the metal was restricted to narrow ranges.

FUNDAMENTALS

* Spot gold was up 0.2 percent at $1,088.66 an ounce by 0035 GMT. The metal, while supported by a weaker appetite for risky assets, has faced resistance at around $1,090 with some analysts attributing this to slow Asian physical demand.

* U.S. gold for February delivery was flat at $1,088.70 an ounce.

MARKET NEWS

* Asian shares slipped as a relentless slide in oil prices wiped out an attempted rally on Wall Street and dealt a fresh blow to risk appetite.

* U.S. crude fell to a new low since 2003 at under $28 a barrel after the world's energy watchdog warned the market could "drown in oversupply".

Daily Mcx Market News On Crude oil By MarketMagnify

Crude futures slumped again in early Asian trade on Wednesday, with US oil falling to its lowest since September 2003 below USD 28 a barrel on worries over a global supply glut. 

That came as the International Energy Agency, which advises industrialized countries on energy policy, warned on Tuesday that oil markets could "drown in oversupply".

 US crude futures were trading down 46 cents at USD 28.00 a barrel at 0136 GMT (2036 EDT), after dropping to USD 27.92 earlier in the session - a new low since September 2003.

 The contract settled down 96 cents, or 3.26 percent, the session before. 

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Cardamom drops 0.32% on surge in arrivals

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Cardamom prices fell by 0.32 per cent on Tuesday at the Multi Commodity Exchange (MCX) due to the adequate stocks availability in the physical market on account of higher supply from the producing belts of Chandausi in Uttar Pradesh. At MCX, Cardamom futures for January 2016 contract were trading at Rs. 775.60 per kg, down by 0.32 per cent, after opening at Rs. 775.10 against the previous closing price of Rs. 778.10. It touched the intra-day low of Rs. 772.20 till the trading. (At 10.45 AM today).

Sentiment weakened further as the traders booked profits at the prevailing levels in the midst of a subdued demand for the commodity. Kerala (70 per cent), Karnataka (20 per cent) and Tamil Nadu (10 per cent) are the cardamom growing states in India while about 90 per cent of the produce is consumed within the nation. The important markets for cardamom in India are Vandanmendu, Bodinayakanur, Kumily, Thekkady, Kumbum and Pattiveeran Patti in Kerala.

Live MCX Castorseed update

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Castorseed prices rose by 0.03 per cent on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the rise in demand from consuming industries against restricted arrivals in domestic markets which in turn encouraged the investors to enlarge their holdings. 

At the NCDEX, castor seed futures for January 2016 contract were trading at Rs. 3,460 per quintal tonnes, up by 0.03 per cent, after opening at Rs. 3,456 against the previous closing price of Rs. 3,459. It touched the intra-day high of Rs. 3,460 till the trading. (At 12.15 PM today). Castor is a non-edible oilseed crop; basically a cash crop, with average 46 per cent oil recovery.

MCX MARKET REPORT ON TURMERIC

Turmeric settled down by -3.98% at 9258 as the buyers are reported to be unresponsive towards bulk buying as they are waiting for new crop to enter in coming days and the farmers in the Western region are preparing to embrace the harvest season & hoping for a bumper harvest as the yield is expected to go up due to higher cultivation area

Trading Ideas:
Turmeric trading range for the day is 8944-9888.
Turmeric prices dropped as the buyers are reported to be unresponsive towards bulk buying as they are waiting for new crop to enter in coming days.
During the first six months of this fiscal, India exported 46,500 ton turmeric as against 44,406 ton a year ago.
Investors are expecting that fresh arrivals will hit the market by this month end as harvesting also running in full swing.

Today's Mcx Market News for Gold

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Gold steadied in early deals on Tuesday as weaker stock and oil prices pushed investors towards safe-haven assets, but slow physical demand in Asia kept bullion under USD 1,100 an ounce. 

FUNDAMENTALS 

* Spot gold was little changed at USD 1,089.20 an ounce by 0035 GMT, after a lethargic session on Monday with US markets shut for the Martin Luther King holiday. 

* US gold for February delivery slipped 0.2 percent to USD 1,088.90 an ounce. 

* Weak physical demand from top gold consumers China and India has limited gold's upside potential, with Chinese consumer spending dented by its slowing economy.

 * China will release its gross domestic product data for the last quarter of 2015 and the past year this morning and economists polled by Reuters show the world's No. 2 economy grew 6.9 percent last year, its slowest in a quarter of a century.

CRUDE OIL NEWS LIVE

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Oil futures remained under pressure in early trading on Tuesday, following a slide that has seen prices fall by more than a quarter since the beginning of the year, as the full return of Iran to oil markets adds to an already huge supply overhang. 

Oil prices had briefly stabilized in the previous session, but only after hitting the lowest since 2003 as western sanctions against Iran were lifted, allowing the country with the world's fourth-largest oil and gas reserves to return in full to the market.

 Prices came under pressure on Tuesday morning as Iran ordered a sharp increase in oil output to take immediate advantage of the lifting of sanctions.

SOYABEAN NEWS TODAY INDIA

Soyabean settled down -0.76% at 3764 on profit booking after prices gained on supply worries in global market and on improvement in demand from China. Speculation over lower supply from US and Brazil and higher China imports supported the bean prices. Prices of the bean were supported after United States Department of Agriculture (USDA) trimmed 2015-16 United States soybean production forecast and also cut its forecast for ending stockpiles, the department said in its World Agriculture Supply and Demand Estimates report. USDA maintain US, the world's biggest bean grower, 2015-16 production estimates to 107 million tons compared to 108.4 million tons in the previous month estimates and 106.9 million tons a year ago.

Trading Ideas:
Soyabean trading range for the day is 3698-3868.
Soyabean prices ended with losses on profit booking after prices gained on supply worries in global market
USDA also its forecast for 2015-16 US soybean ending stockpiles to 440 million bushels compared to 465 million bushels in the previous month.
NCDEX accredited warehouses soyabean stocks dropped by 1013 tonnes to 67238 tonnes.
At the Indore spot market in top producer MP, soybean gained 16 rupee to 3763 rupee per 100 kgs.

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JEERA NCDEX UPDATE

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Jeera settled up 0.51% at 13915 as the overall acreage of jeera is likely to decline by 15-20 percent. In Gujarat state, current year, sowing completed 2,68,400 hectares, Normal area is 3,52,300 hectares. Last year Jeera sowing reported 2,66,700 hectares. Jeera sowing reported higher by 1700 hectares in Gujarat as compared to last year area, sowing almost completed in Gujarat current year. Farmers reveled that, Jeera sowing delay in Gujarat as compared to Rajasthan around 25-30 days. Weather in growing areas remain a very important factor for the near term market sentiments.

Trading Ideas:
Jeera trading range for the day is 13685-14065.
Jeera prices gained as the overall acreage of jeera is likely to decline by 15-20 percent.
Jeera sowing reported higher by 1700 hectares in Gujarat as compared to last year area, sowing almost completed in Gujarat current year.
India's total carryover stock is currently estimated between 0.7-0.8 million bags versus 2.5 million bags a year ago.
In Unjha, a key spot market in Gujarat, jeera edged up by 1.35 rupees to end at 14705 rupee per 100 kg.

Zinc Newa Latest Update

Zinc settled down -1.57% at 100.15 as more equity losses in Shanghai increased concern that demand will slow in China. Industrial metals retreated as Chinese shares extended the world’s worst selloff this year, with data showing the country’s inflation in December stayed at about half of the government’s 2015 target. U.S. retail sales unexpectedly fell in December as unseasonably warm weather undercut sales of winter apparel and cheaper gasoline weighed on receipts at service stations, adding to signs that economic growth braked sharply in the fourth quarter

Trading Ideas:
Zinc trading range for the day is 98.6-102.
Zinc prices dropped as more equity losses in Shanghai increased concern that demand will slow in China.
The US Commerce Department said retail sales slipped 0.1 percent after an upwardly revised 0.4 percent gain in November.
Combined zinc inventories in Shanghai, Tianjin and Guangdong fell 9,900 to 325,200 tonnes this past week, due mainly to growing outward shipments.

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Oil Price News latest

Oil prices hit their lowest since 2003 in early trading on Monday, as the market braced for a jump in Iranian exports after the lifting of sanctions against the country at the weekend. 

On Saturday, the UN nuclear watchdog said Tehran had met its commitments to curtail its nuclear program, and the United States immediately revoked sanctions that had slashed the OPEC member's oil exports by around 2 million barrels per day (bpd) since their pre-sanctions 2011 peak to little more than 1 million bpd.


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GOLD NEWS TODAY---Gold glitters to hit over 2-mth high on global cues

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Gold prices surged Rs 340 to hit over two-month high of Rs 26,550 per ten grams at the bullion market today, taking positive cues from global market amid pick up in buying by jewellers to meet wedding season demand. 

Silver too recovered and reclaimed the Rs 34,000-mark by rising Rs 220 to Rs 34,015 per kg on increased offtake by industrial units and coin makers. A weaker rupee, which plunged to hit fresh 28-month low of 67.59 against the dollar yesterday that made imports costlier also supported the upside in gold prices.