Best Mcx Ncdex Market News On JEERA

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Jeera prices closed lower by 1.83 per cent on Monday 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 March 2016 contract closed at Rs. 13,150 per quintal, down by 1.83 per cent, after opening at Rs. 13,465 against the previous closing price of Rs. 13,395. It touched the intra-day low of Rs. 13,090. 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.

Best Mcx Market Update On Gold Tips

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Gold edged to a three-month high on Tuesday as weak global manufacturing activity underscored the challenges for the world economy, pushing investors towards safe-haven assets. Increased volatility in other assets has benefitted gold and it could see more gains as global central banks may be forced into easing monetary policy further this year to spur growth.

"Weaker macro numbers out of the US are also increasing the odds that the Fed's December move could have been an outlier, forced onto a central bank that basically had to move after promising to do so for much of the last year,"

Best Mcx Market Update On Gold Tips

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The yellow metal was trading with slim gains during noon trade in the domestic market on Monday as dismal China factory data which showed that manufacturing in the country contracted for a sixth month on the trot in January signaled a worsening slowdown in the world’s second biggest economy, bolstering the case for further monetary easing by officials, supporting the lure for Gold, which is a hedge against the inflationary risk of monetary stimulus. The China official manufacturing gauge fell to a three-year low of 49.4 in January, below the neutral mark of 50. 

At the MCX, Gold futures for February 2016 contract is trading at Rs 26,651 per 10 gram, up by 0.05 per cent after opening at Rs 26,700, against the previous closing price of Rs 26,638. It touched the intra-day high of Rs 26,700. (At 12:24 PM).

Daily Mcx Market Update On Crude oil And Gold

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Crude oil

U.S. crude oil futures extended gains on Friday to take their weekly rise to more than 4 percent on hopes of a global deal between oil-producing countries to help tackle a growing supply glut.

U.S. crude climbed 32 cents at $33.54 a barrel as of 2338 GMT, after it settled up 92 cents, or 2.9 percent, at $33.22 per barrel, down from a high of $34.82.

Global benchmark Brent ended up 79 cents, or 2.4 percent, at $33.89 a barrel, after trading as high as $35.84.

"Despite the unlikely scenario of supply cutbacks in the oil market, prices have found some support above $30 a barrel. We believe this basis is fragile, with fundamentals expected to weaken in the coming weeks," ANZ said on Friday.

Gold
Gold steadied on Friday after recent gains that lifted the metal to its highest since November, keeping it on track to end January with its strongest monthly climb in a year.

Fresh data released on Thursday showed new orders for U.S. durable goods posted their biggest drop in 16 months in December, suggesting that growth in the world's top economy braked sharply at the end of 2015.

Best Mcx Ncdex Market News On Mustard seed

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Mustard Seed prices closed lower by 0.13 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the profit booking by the traders on account of the weak crushing and export demand of mustard meal.

 At the NCDEX, Mustard Seed futures for April 2016 contract closed at Rs. 3,855 per quintal, down by 0.13 per cent, after opening at Rs. 3,845 against the previous closing price of Rs. 3,860. It touched the intra-day low of Rs. 3,822. 

Sentiment weakened further due to the sluggish export demand as a result of the weak demand for the commodity. EU-27 accounts to about 34 per cent of worlds RM seed production, others major producers are China (23 per cent), Canada (19 per cent), India (14 per cent), Australia (3 per cent), Ukraine (2 per cent). India produces 5.5 million MT to7 million MT annually.

Live Mcx Ncdex Market News On Maize

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Maize prices ended lower by 0.35 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of heavy selling activity by the traders on account of higher global supplies and weak offtakes from the local buyers. At the NCDEX, maize futures for February 2016 contract closed at Rs. 1,433 per quintal, down by 0.35 per cent, after opening at Rs. 1,436 against the previous closing price of Rs. 1,438. It touched the intra-day low of Rs. 1,414. 

USA, China and Brazil are the top three maize producing countries in the world while the prominent exporters of maize are USA, Argentina and Brazil. Chief importers are Japan, EU, Malaysia, Taiwan, Indonesia etc.

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 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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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.

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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CASTOE SEED NEWS

Castorseed prices rose by 1.26 per cent on Friday 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. 3,465 per quintal tonnes, up by 1.26 per cent, after opening at Rs. 3,445 against the previous closing price of Rs. 3,422. It touched the intra-day high of Rs. 3,465 till the trading. (At 12.35 PM today). Castor is a non-edible oilseed crop; basically a cash crop, with average 46 per cent oil recovery.


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US crude falls as market braces for more Iranian oil

US crude oil futures fell in early Asian trade, heading lower after posting the first significant gains for 2016 in the previous session, as the prospect of additional Iranian supply looms over the market. 

West Texas Intermediate (WTI) was down 33 cents at USD 30.87 a barrel at 0103 GMT (2003 EDT). On Thursday the contract rose 72 cents, or 2.4 percent, to settle at USD 31.20. It hit a 12-year low of USD 29.93 earlier this week. 

WTI is on track to post a third consecutive weekly loss, down more than 6 percent. The contract is down nearly 18 percent from a 2016 high on January 4. Brent crude was yet to trade. 

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Brent falls to another 12-year low on oversupply gloom

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Crude oil fell in Asian trade on Thursday, with Brent marking another 12-year low amid gloom over a world awash with supply and concerns about global economic growth hitting equity markets.

 Brent dropped as far as USD 29.73, the lowest since February 2004 and down more than 1.5 percent. It was down 47 cents at USD 29.84 a barrel at 0145 GMT and the contract has fallen every trading this year. 

West Texas Intermediate (WTI) CLc1 erased earlier gains and was down 12 cents at USD 30.36 a barrel. It settled at USD 30.48 on Wednesday, up 4 cents, the contract's first gain in 2016.

 It was the second time in two days for Brent, the global benchmark, to drop below USD 30 a barrel after WTI fell below that mark on Tuesday, before recouping some of the losses. 

"Perhaps USD 30 or just slightly below is acting as a little bit of a floor, but that being said that's a straw in a hay barn in terms of positivity," said Ben le Brun, market analyst at OptionsXpress in Sydney. "The rest of the news is decidedly negative about oil," he said.

Ncdex Jeera Market Update

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Jeera settled up by 0.11% at 13975 on short covering after prices dropped due to higher sowing following favourable weather in the producing belts. However, anticipation of growing demand amid declining stocks with the stockists limited the downside. Gujarat, the top cumin producing state, has planted more cumin until Jan 05, 2016 compared to last year sowing progress. In Gujarat, jeera is planted about 7% more area at 2,83,000 hectares compared to 2,64,400 hectares last year same time. As per data, arrivals of Jeera in Gujarat markets for the calendar year 2015 till Oct is lower by 217 per cent at about 1.23 lt compared to 3.9 lt last year. According to Dept of Commerce data, the export of jeera during first 6 month of 2015-16 (Apr-Sep) is 44,140 tonnes, which is, lower as compared to last year same period. Jeera (cumin) exports have been 1.55 lt in 2014-15. According to govt data, exports for 2015-16 shows a decline trend compared to last year until September.

Trading Ideas:
Jeera trading range for the day is 13705-14225.
Jeera settled up on short covering after prices dropped due to higher sowing following favourable weather in the producing belts.
However, anticipation of growing demand amid declining stocks with the stockists too supported prices.
NCDEX accredited warehouses jeera stocks dropped by 99 tonnes to 2023 tonnes.
In Unjha, a key spot market in Gujarat, jeera edged down by -94.65 rupees to end at 14693.35 rupee per 100 kg.

Gold falls as stocks rebound in Europe, dollar rises

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Gold fell for a third straight session on Tuesday as a rebound in European and U.S. stock markets undermined the metal's appeal as a haven from risk, and as the dollar strengthened against a basket of currencies.

Spot gold was down 0.3 percent at $1,090.30 an ounce at 2:39 p.m. EST (1939 GMT), while U.S. gold futures for February delivery settled down 1 percent at $1,085.20 an ounce.

The metal pared losses as U.S. and European shares came off their highs when depressed oil prices failed to sustain a rally, while the U.S. dollar rose for the third straight session. The rise in stocks suggested risk appetite is recovering after last week's rout.

"(We're) looking for gold to perhaps get down to the $1,055-1,060 level as we expect a bounce in the equity markets to continue on account of earnings that likely will be no worse than estimates, stabilizing macro readings from a number of countries, including China ... and a possible jump in oil," said INTL FCStone analyst Edward Meir.

The metal's early January rise ran out of steam late last week after prices hit resistance at their 100-day moving average. Gains have been capped by concerns over higher U.S. interest rates. Since the U.S. Federal Reserve raised rates in December, attention has shifted to how many hikes will follow in 2016.

Crude oil rises for first time in 8 days after US stocks fall

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Crude futures rose on Wednesday for the first time in eight days, with US oil pulling further away from the widely watched USD 30-per-barrel level breached the previous session, after US crude stocks unexpectedly fell last week. 

US West Texas Intermediate crude (WTI) was up 44 cents at USD 30.88 a barrel at 0144 GMT. On Tuesday, it fell 97 cents to close at USD 30.44 a barrel, after touching a low of USD 29.93, which was last seen in December 2003. 

Brent crude, the global benchmark, was up 34 cents at USD 31.20 a barrel. 

The contract fell 69 cents to settle at USD 30.86, after bottoming at USD 30.34, on Tuesday. 

The USD 30 mark is both a psychological and financial threshold and, in recent days, traders have poured money into USD 30 put options for expiration in February and March.

US crude oil prices approach 20% fall since beginning of the yr

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US crude prices continued a relentless dive early on Tuesday approaching a 20 percent drop since the beginning of the year as analysts scrambled to cut their 2016 oil price forecasts and traders bet on further price falls. 

US crude West Texas Intermediate (WTI) CLc1 were trading at USD 31.34 per barrel at 0805 GMT on Tuesday, down 7 cents from their last settlement and almost 19 percent lower than at the beginning of the year. 

WTI has shed over 70 percent in value since the downturn began in mid-2014. Trading data showed that managed short positions in WTI crude contracts, which would profit from a further fall in prices, are at a record high, implying that many traders expect further falls.