Commodity Update

Commodity Trading Tips for Cotton by Kedia Commodity

Commodity Trading Tips for Cotton by Kedia Commodity

Cotton on MCX settled up 1.43% at 21300 on strong demand despite of higher supply in domestic market. Prices of cotton were up as USDA raised its monthly consumption forecast for cotton in India from 29.81 million bales to 30.45 million bales estimated domestic inventory at 14.86 million bales of 170 kg each down by 4.1% from the Jan month forecast. However, sharp gain in the prices was capped by higher output after Cotton Association of India (CAI) pegged cotton production for year 2016-17 rose by 1% to 34.1 million bales compared to 33.8 million bales produced last year while total domestic consumption was forecasted at 29.5 million bales. Government pegged total cotton production for year 2016-17 at 32.5 million bales in its second advance estimates, said CAI in a statement.

Commodity Trading Tips for Cardamom by Kedia Commodity

Commodity Trading Tips for Cardamom by Kedia Commodity

Cardamom on MCX settled up 1.16% at 1479 due to good demand and a squeeze in supplies. Supply continued to show a shrinkage following the continued dry spell. Harvesting is nearly complete and hence arrivals are unlikely to pick up. Exporters and north Indian dealers have slowed down because of the higher prices. Exports of small cardamom during April-September 2016 have dropped by 20 per cent in volume and 22 per cent in value realisation from that of the same period the last fiscal. Shipments during the first six months of the current financial year stood at 1,625 tonnes valued at Rs. 139.25 crore against 2,026 tonnes valued at Rs. 179.32 crore in the corresponding period in 2015-16, according to Spices Board sources.

Commodity Trading Tips for Maize by Kedia Commodity

Commodity Trading Tips for Maize by Kedia Commodity

Maize on NCDEX settled down by -0.85% at 1400 tracking weakness in spot demand and overseas prices. Mexico's attempts to diversify its supplies of corn could threaten a crucial market for U. S. farmers who are increasingly dependent on exports to unload record stockpiles that are depressing prices. USDA lowered U. S. corn ending stocks for the 2016-17 crop by 35 million bushels in this month’s World Agricultural Supply and Demand Estimates data. Corn ending stocks for the 2016-17 crop were lowered 35 million bushels to

Commodity Trading Tips for Jeera by Kedia Commodity

Commodity Trading Tips for Jeera by Kedia Commodity

Jeera prices settled flat amid subdued demand in the spot market and ample supply in the physical market. However, lower output from the producing regions, capped the downside. Reports showed that the sowing of Jeera in Gujarat pegged at 278,000 hectare as against 295,000 hectare a year ago, while sowing in Rajasthan declined by around 15 to 20%. Current year new Jeera crop enter to the market in Porbandar and Junagarh regions, 2016-17 Jeera area reported in Porbandar around 12100 hectares and in Junagarh 5300 hectares. Sources revealed that, around 250 - 300 bags coming daily basis from last one week. Due to higher moisture content buyers were quoted lower prices. Jeera standing crop reported well in Gujarat state current year.

Commodity Trading Tips for Turmeric by Kedia Commodity

Commodity Trading Tips for Turmeric by Kedia Commodity

Turmeric on NCDEX settled down -1.36% at 6798 due to easing domestic and export demand amid expectations of higher output. In coming days, arrivals are expected to increase which could put pressure over prices. Prices may decline due to pressure of arrivals but improved domestic and export demand for the new turmeric may support prices. New crop arrivals have started in all the major producing centres of Andhra Pradesh, Telangana, Maharashtra, Odisha. Production in the ongoing season is expected to increase mainly on higher sowing area and favourable weather conditions in Maharashtra, Telangana and Andhra Pradesh etc. According to trade sources turmeric output is expected to be around 7.5-8 million bags.

Commodity Trading Tips for Mustard Seed by Kedia Commodity

Commodity Trading Tips for Mustard Seed by Kedia Commodity

Rmseed on NCDEX settled down -0.4% at 3773 tracking weakness in spot demand and over supply worries. Availbility of cheaper oil option and expectation of higher output kept mustard prices under pressure. The shipment of rapeseed- mustard oil also increased to 17,878 tonnes from 7,461 tonnes, but the import of soyabean oil fell to 166,573 tonnes from 441,200 tonnes in the period under review. “Importers continue to make larger import purchases of sunflower oil, taking advantage of the still large price discount versus soyabean oil,” SEA said. As on February 1, the stock of edible oils at various ports was estimated to be at 1.73 mt which is equal to 32 days requirements. India's monthly requirement is about 1.65 mt, SEA said.

Commodity Trading Tips for Crude palm Oil by Kedia Commodity

Commodity Trading Tips for Crude palm Oil by Kedia Commodity

CPO on MCX settled up 0.92% at 547.5 on short covering after prices dropped amid expectation of higher output. Recovery in yields in major growing region of Southern peninsular Malaysia also with higher soybean production estimate in South America weighed on the prices. In addition to that, subdued demand also kept oil prices under pressure. Malaysia's Feb 1-20 palm oil exports decline by 0.8% to 733,288 tons compared to same period a month ago, data published by Intertek showed. As per Malaysian custom dept, March'17 Crude Palm oil export duty has been raised to 8% from 7.5% a month ago.

Commodity Trading Tips for Ref. Soyaoil by Kedia Commodity

Commodity Trading Tips for Ref. Soyaoil by Kedia Commodity

Ref. Soya oil on NCDEX settled up 0.55% at 655.7 on short covering tracking firmness in spot demand amid supply worries. Prospects of higher soybean and rm seed output kept oil prices down in the domestic market. In addition to this, expectation of higher production from Argentina, the world's biggest oil producer, also kept oil down. Argentina's Soyoil production is seen rising to 8.725 million tons as compared to 8.6 million tons in 2106-17 as per the USDA's WASDE report. On the domestic front, the availability of more domestic soya oil on the back of ample soyabean supplies is dragging down the prices of soya oil derivatives. As per USDA, in 2016-17, soya oil production in India is expected to be around 1.62 million tonnes (mt), up 55 per cent from the previous year.

Commodity Trading Tips for Soyabean by Kedia Commodity

Commodity Trading Tips for Soyabean by Kedia Commodity

Soyabean dropped on expectation of bumper crop output in domestic and international market and weak demand for meal. Bean prices were down on oversupply woes along with weak demand of soymeal the byproduct. Prices of the bean were down after the Indian government in the second advance estimate for 2016-17 report hike bean output forecast. Agriculture Department in its second advance estimates for 2016-17 pegged soybean crop at 14.125 million tons as compared to 8.570 million tons a year ago. The country has harvested record 14.666 million tons in 2012-13. US soybean crushers crushed higher than the market expectations in January, third highest January crush on record, said National Oilseed Processors Association.

Commodity Trading Tips for Menthaoil by Kedia Commodity

Commodity Trading Tips for Menthaoil by Kedia Commodity

Menthaoil on MCX settled down -0.91% at 1020.2 amid muted demand in the domestic spot market. Further speculators trimmed their positions on weak demand and increased supply from producing belts also influenced the prices. Pressure also seen on the speculation the area under cultivation can increase this year resulting good production. Sources mentioned that nearly 14500 MT of mint products were exported in six months of the current financial year. This implies that export demand for the complete financial year can be between 27000 and 29000 MT quite cheaper, versus 23000 of total exports last year. Farmers are keeping most of the stocks in their hands. Most buyers are willing to buy at these levels.

Commodity Trading Tips for Aluminium by Kedia Commodity

Commodity Trading Tips for Aluminium by Kedia Commodity

Aluminium gained as support seen after a recent Chinese government document proposed that about a third of aluminum capacity should be shut over the winter months. Inventories of aluminum ingot in China’s five major trading markets were 905,000 tonnes, surging 319 percent from the record low of 216,000 tonnes seen on September 29, 2016, and 166 percent from the level seen in early 2017. China’s aluminum inventories dropped sharply in 2016 due mainly to following two factors. First, tumbled aluminum prices in 2015 triggered a round of inefficient capacity cuts, production reduction and suspension. According to SMM data, China’s aluminum capacity grew by 9 percent in 2016, unchanged from 2015’s, but down sharply from the growth of 18 percent in 2014.

Commodity Trading Tips for Nickel by Kedia Commodity

Commodity Trading Tips for Nickel by Kedia Commodity

Nickel on MCX settled up 3.36% at 723.7 as LME Nickel saw the day's biggest gains, closing up 2.6 percent at $10,860 a tonne as high as the market tracked the latest plans by the Philippines to close mines on environmental grounds. Nickel's year to date 11.3 percent increase in price has been spurred by substantial mine closures in the Philippines and the expectation of increased demand from the U. S. and China. Chinese nickel demand is expected to increase in 2017 due to a rise in steel manufacturers moving into higher value- added stainless steel products. The Philippines' environment minister said President Rodrigo Duterte had backed her decision to ban mining in watershed areas at a meeting, winning his support once more for her crackdown on the sector.

Commodity Trading Tips for Zinc by Kedia Commodity

Commodity Trading Tips for Zinc by Kedia Commodity

Zinc on MCX settled up 1.91% at 188.95 as LME zinc ended the day 1.4 percent higher at $2,829 a tonne due to deficits arising from mine closures and shutdowns including at Glencore. The widely anticipated zinc mining output reduction materialised and resulted in significantly tighter physical market conditions, particularly for zinc concentrate. Confirmation of decreasing supply, in combination with better than anticipated demand conditions driven by the recovery of the Chinese real estate and global automotive market, has resulted in destocking of both zinc concentrates and metal during the year and a higher corresponding LME price. Japan’s Ministry of Finance reported the country’s zinc exports were 4,918,551 kg in January, an increase of 4.5% year-on-year.

Commodity Trading Tips for Copper by Kedia Commodity

Commodity Trading Tips for Copper by Kedia Commodity

Copper on MCX settled up 1.34% at 394 as supply disruptions in Chile and Indonesia lent support, but still posted a second straight weekly drop as concerns over the demand outlook weighed. The metal used in construction fell 3 percent on Thursday, its biggest one- day drop in 17 months, as traders flagged persistent worries over Chinese consumption. Some investors also cashed in after copper hit a 21-month high of $6,204 on Feb. 13 on supply outages from major copper mines and hopes a pledge by the administration of U. S. President Donald Trump to lift infrastructure spending would fuel demand. China's refined copper imports fell 14 percent last month, Chinese customs data showed.

Commodity Trading Tips for Naturalgas by Kedia Commodity

Commodity Trading Tips for Naturalgas by Kedia Commodity

Naturalgas on MCX settled up 0.55% at 184.4 after Thursday’s data showed that natural gas supplies in storage in the U. S. fell more than expected last week. The Energy Information Administration (EIA) reported that natural gas in underground storage fell by 89 billion cubic feet ((bcf)) in the week ending February 17th. This left storage levels 10% lower than a year ago but 7.1% higher than the five-year average. That compared with a withdrawal of 114 billion cubic feet in the preceding week, 117 billion a year earlier and a five-year average drop of 158 billion cubic feet. Total natural gas in storage currently stands at 2.356 trillion cubic feet, according to the U. S.

Commodity Trading Tips for Crudeoil by Kedia Commodity

Commodity Trading Tips for Crudeoil by Kedia Commodity

Crudeoil on MCX settled down -0.5% at 3615 amid a new weekly rise in U. S. stockpiles, albeit less significant than expected, dampened investors’ optimism. Pressure also seen after the latest Baker Hughes U. S. oil rig count rose by 5, topping 600 for the first time since October 2015. Oilfield service firm Baker Hughes reported its weekly count of U. S. oil rigs rose by 5 and topped 600 for the first time since October, 2015, which added to concerns that record U. S. crude production may curtail OPEC's effort to drain excess supply in the industry. Speaking at the International Petroleum Week conference in London last week, OPEC Secretary General, Mohammed Barkindo estimated that OPEC member states are about

Commodity Trading Tips for Silver by Kedia Commodity

Commodity Trading Tips for Silver by Kedia Commodity

Silver on MCX settled up 1.16% at 43353 as the dollar softened and uncertainties surrounding U. S. President Donald Trump's policies and elections in Europe fuelled safe-haven demand. Silver rose 0.8 percent to $18.30 per ounce, having touched its highest in 3-1/2- months at $18.40. Silver has gained about 1.8 percent this week in what could be its ninth straight weekly gain. Haven demand rose amid growing concerns about geopolitics and the Federal Reserve’s lack of commitment to lift benchmark interest rates also helped to support higher prices in the precious metals. The firm gains for the metals came as the dollar softened on indications U. S. President Donald Trump’s tax and other pro-business policy plans would be implemented at a slower-than-expected pace.

Commodity Trading Tips for Gold by Kedia Commodity

Commodity Trading Tips for Gold by Kedia Commodity

Gold on MCX settled up 0.58% at 29623 as the dollar fell to a one-week low after the new U. S. Treasury chief poured cold water on the "Trumpflation trade" that had boosted the greenback this year. Treasury Secretary Steven Mnuchin said that any steps U. S. President Donald Trump's administration takes on policy would probably have only limited impact this year, though he wants to see tax reform passed by August. The comments suggested much work was still needed on the sweeping tax plan that Mnuchin called his main priority, and which investors had bet would stoke growth and inflation this year.

Commodity Trading Tips for Cotton by Kedia Commodity

Commodity Trading Tips for Cotton by Kedia Commodity

Cotton on MCX settled up by 0.58% at 20730 due to rising domestic as well as export demand in the spot market. Though, reports of improving supplies from major growing regions capped some gains in cotton. As per CCI, around 30 lakh bales of cotton has been exported from the country so far as against a planned target of some 50 -60 lakh bales this cotton season. CAI estimated output at 341 lakh bales and revised its consumption higher at 295 lakh bales compared to 290 last year. As on Feb 15, 2017 about 185.9 lakh bales of cotton have arrived in the domestic market. Moreover, India has exported around 2.5 million bales so far in the 2016/17 season that started on Oct. 1. Meanwhile, CCI has also been purchasing cotton at commercial rates and has purchased around 70,000 bales till date.

Commodity Trading Tips for Cardamom by Kedia Commodity

Commodity Trading Tips for Cardamom by Kedia Commodity

Cardamom on MCX settled up by 1.95% at 1462.1 on good buying support amid a squeeze in supplies. The small cardamom markets last week remained nearly steady on matching demand and supply at auctions held in Kerala and Tamil Nadu. The week witnessed good export demand even at the current price levels and that in turn has kept the market by and large steady. Exporters bought an estimated 100-120 tonnes of capsules last week, he said. Arrivals last week slipped to 427 tonnes from 463 tonnes the previous week. The auction average was vacillating between Rs. 1.305 and Rs. 1.350 a kg. Total arrivals during the season from August 1 up to February 18 were at 12,853 tonnes and sales were at 12,252 tonnes. Supply continued to show a shrinkage following the continued dry spell.




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