Showing posts with label RM Seed Tips. Show all posts
Showing posts with label RM Seed Tips. Show all posts

Sunday, 6 November 2016

AGRI COMMODITY MARKET NEWS & UPDATES - 07 NOV 2016

Agri commodity calls, Agri Commodity Tips, Cardamom Tips, Free  Commodity Tips, Free Agri Tips, maize tips, RM Seed Tips,

Cardamom on MCX settled up 0.16% at 1336.6 on short covering after prices seen some pressure amid a fall in physical demand in the domestic spot market. India’s Production is likely to fall by 30-40% in 2016-17 due to unfavourable weather conditions.

Technically market is under fresh buying as market has witnessed gain in open interest by 6.16% to settled at 896 while prices up 2.2 rupee, now Cardamom is getting support at 1321.5 and below same could see a test of 1306.5 level, and resistance is now likely to be seen at 1351.2, a move above could see prices testing 1365.9.

Rmseed on NCDEX settled up 2.56% at 4642 on strong demand and on lower stockpiles in the local market. According to sources, nearly 4.5 million tons of mustard seed crop have been arrived as on November 1, against total available crop 5.7 million tons of total production, including carry over stock from previous crop. 
Technically market is under fresh buying as market has witnessed gain in open interest by 3.84% to settled at 35670 while prices up 116 rupee, now Rmseed is getting support at 4559 and below same could see a test of 4477 level, and resistance is now likely to be seen at 4689, a move above could see prices testing 4737.

CPO on MCX settled down -0.58% at 515.4 on weak demand in export market. Malaysia palm oil exports during Oct 1-31 dropped 5.1% compared to a month earlier on subdued demand from China, United States, India, Pakistan, Bangladesh and Egypt, data showed. Malaysia palm oil exports slipped to 1.29 million tons during Oct 1-31 compared to 1.36 million tons for the same period a month ago, Dow Jones reported citing data from SGS, a private surveyor. India's palm oil imports from Malaysia during Oct 1-31 slipped 28.69% to 189,724 tons compared to 266,080 tons during Sep 1-30.
Technically market is under long liquidation as market has witnessed drop in open interest by -6.25% to settled at 4757 while prices down -3 rupee, now CPO is getting support at 512.3 and below same could see a test of 509.3 level, And resistance is now likely to be seen at 519, a move above could see prices testing 522.7.

Maize on NCDEX settled up 1.17% at 1388 tracking firmness in spot demand due to inconsistent quality even as maize harvest continues at rapid pace. Maize harvest continues at a fast pace in Telanagana, Karnataka and arrivals are somewhat good, but the quality of the produce is inconsistent. 
Technically market is under fresh buying as market has witnessed gain in open interest by 5.63% to settled at 20260 while prices up 16 rupee, now Maize is getting support at 1383 and below same could see a test of 1379 level, and resistance is now likely to be seen at 1390, a move above could see prices testing 1393.

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Thursday, 20 August 2015

AGRI COMMODITY NEWS - MENTHA OIL | CHANA | SOYABEAN | RMSEED

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Mentha Oil 
continued to find some strong resistance as markets traded sideways with expected recovery in prices not ruled out in coming days. With prices finding strong support at the lower levels, the downtrend may be limited as demand starts rising in mandis. Sources indicate rates have fallen to low levels over last few weeks and further fall may be limited as domestic and export demand rise.
Chana traded with high volatility with moderate firmness even as profit booking at the higher levels limited the uptrend. Pick up in demand ahead of the Festive season in coming months in mandis supported the prices. Availability of chana is falling in Jalgaon, Gulbarga and Akola apart from Rajasthan, MP and Maharashtra. As per traders, fall in stocks is seen gradually and moreover, there is much time for new crop arrival. Daal mills demand is also likely to increase in coming days.
Soya oil demand in the retail markets shown moderate improvement in last couple of days, amid bullish cues from US markets. However the gains are however capped because of persistent weakness in palm oil.
Overall, the global supply outlook for soybeans in 2015/16 remains positive, notwithstanding the recent downward revisions. So the upward trend in soy complex should be short lived logically. Kharif planting is likely to be over by mid-August in most areas, excepting for some rice production areas in southern India. However, deficient monsoon rains over the next two weeks in western and peninsular regions could affect the production prospects, particularly for coarse grains and pulses in the rainfed areas. Further dry weather in the southern peninsula may also affect rice planting in Andhra Pradesh and Tamil Nadu, where transplanting continues through early September
SOYABEAN : -Overall, the global supply outlook for soybeans in 2015/16 remains positive, notwithstanding the recent downward revisions. So the upward trend in soy complex should be short lived logically. Kharif planting is likely to be over by mid-August in most areas, excepting for some rice production areas in southern India. However, deficient monsoon rains over the next two weeks in western and peninsular regions could affect the production prospects, particularly for coarse grains and pulses in the rainfed areas. Further dry weather in the southern peninsula may also affect rice planting in Andhra Pradesh and Tamil Nadu, where transplanting continues through early September.
RMSEED : -As per SEA’s latest data the overall export of mustard meal during July 2015 stood at 0.08 lakh tons versus 0.87 lakh tons in July 2014. Global rapeseed ending stocks could plunge to 3.4 million tons in 2015/16, a 12-year low, as stated in August USDA report. Further reductions of 2015/16 rapeseed yields for the United Kingdom, Czech Republic, and Romania cut forecast EU production by 300,000 tons this month to 21.1 million. EU rapeseed imports will not compensate for these lost supplies, however. Also this month, a lower area estimate trimmed Ukraine rapeseed production 100,000 tons to 1.7 million and led to an equivalent decline in the forecast of 2015/16 exports to 1.4 million tons. Lower supplies for major rapeseed exporters such as Ukraine may restrict EU imports for 2015/16 to 2.2 million tons from 2.3 million in 2014/15. An inability to make up the EU supply deficit with imports and further stock reductions would then curtail rapeseed processing.

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Wednesday, 24 June 2015

RM Seed market rises on short covering, open interest drops 5.77%

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Mustard Seed settled up by 0.84% at 4066 tracking firmness in spot demand amid short covering after prices dropped in last some session. Growers meanwhile continued bringing in more of the harvested crop for sale in the mandis of Rajasthan sensing that the downward price movement can continue for some more time. In May 2015, around 33% lower arrivals were recorded than May 2014, while in April 2015, it was lower by 37% versus April 2014. During May 2015, only 3.8 – 3.9 lakh ton mustard arrived in the main producing mandis – this is lesser by nearly 2 lakh ton from last year same period.
In the Alwar spot market in Rajasthan the price gained 47.95 rupee to 4177.8 rupees per 100kgs.Technically market is under short covering as market has witnessed drop in open interest by -5.77% to settled at 65270 while prices up 34 rupee, now Rmseed is getting support at 4015 and below same could see a test of 3964 level, and resistance is now likely to be seen at 4102, a move above could see prices testing 4138.

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Saturday, 28 February 2015

JEERA LIKELY TRADE A DOWNSIDE | RM SEED TRADE ON CONSOLIDATE


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Jeera futures (Mar)is likely to trade in the range of 14200-14800 levels with a downside bias. In Gujarat, peak arrival of jeera is expected in 1st week of April against normal time of 3rd week in March due to late sowing. The old crops stored in the warehouses are also arriving in spot market but prices of new crop are higher compared to old crop.
Rape Mustard Seed futures (Apr) will possibly consolidate in the range of 3320-3410 levels. The factors that can put the counter under stress are that the demand from crushers is absent due to disparity & more over the supply of new mustard seed has already started. The arrivals of new crop and large stock of mustard oil with the crushers have bearish sentiment to the counter.
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