EPIC NCDEX TIPS

Friday, May 10, 2019

Soyabean trading range for the day is 3701-3773.
Soyabean gained amid hopes of emergence of soymeal demand from China.
China has curtailed its imports of soybean from the US after the Washington imposed tariff on Chinese goods.
However, upside seen limited due to forecast of near normal monsoon forecast by IMD.
At the Indore spot market in top producer MP, soybean gained 53 Rupees to 3828 Rupees per 100 kgs.

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Jeera trading range for the day is 16705-17305.
Jeera dropped on profit booking after prices gained due to the increase in the export demand.
Cumin seed production in Syria and Turkey is estimated to decline, Syria production is estimated around 25,000 tonnes this year
Production of Jeera in Gujarat in 2018-19 is expected to be lower by about 25 percent to 2.23 lakh MT compared to last year’s.
In Unjha, a key spot market in Gujarat, jeera edged down by -181.75 Rupees to end at 16961.1 Rupees per 100 kg.

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Turmeric trading range for the day is 6336-6608.
Turmeric dropped due to near normal monsoon forecast and higher carryover stocks.
Farmers in Telangana and Andhra Pradesh are holding stocks hoping improvement in prices after the ongoing Lok Sabha elections.
Worries over El Nino conditions have eased and there are indications of another year of robust monsoon rain.
In Nizamabad, a major spot market in AP, the price ended at 6400 Rupees dropped -40 Rupees.

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Jeera futures traded higher on NCDEX due to improving demand from bulk buyers. However, higher availability of jeera this season, trimmed some gains.
The contract for May delivery was trading at Rs 17105.00, up by 0.15% or Rs 25.00 from its previous closing of Rs 17080.00. The open interest of the contract stood at 6645 lots.
The contract for June delivery was trading at Rs 17235.00, gain by 0.12% or Rs 20.00 from its previous closing of Rs 17215.00. The open interest of the contract stood at 1296 lots on NCDEX.

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Soyabean trading range for the day is 3681-3761.
Soyabean prices gained on low level buying after prices have been under pressure due to forecast of near normal monsoon forecast by IMD.
Soybean arrivals for the Oct-Mar period are pegged at 77 lt, up by 23.2% on year by SOPA.
In the US, soybean inventories have swelled as the U.S.-China trade has hurt shipments of American soy to Chinese buyers.
At the Indore spot market in top producer MP, soybean gained 12 Rupees to 3834 Rupees per 100 kgs.

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Menthaoil trading range for the day is 1348.3-1373.5.
Mentha oil spot at Sambhal closed at 1603.30 per 1kg. Spot prices was remain unchangeby Rs.0.00/-.
Menthaoil dropped amid improvement and expectation of higher production in key areas of UP.
Production is expected to increase by 30-40 percent during the year 2019-20.
Prices also seen pressure amid expectations of higher acreage under mint in 2019 due to lucrative prices throughout last year.

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CPO trading range for the day is 539.2-544.6.
CPO gained on short covering after prices dropped amid weakness in spot demand and overseas prices weighed down by expectations of rising production.
Official data from the Malaysian Palm Oil Board (MPOB) showed March end-stocks and production at higher levels than expected.
Malaysia's palm oil stockpiles at the end of March fell 4.6 percent from the previous month to 2.92 million tonnes.
Crude palm oil prices in spot market gained by 3.90 rupees and settled at 535.40 rupees.

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Ref.Soya oil trading range for the day is 714-726.
Ref.Soya oil dropped due to higher stocks at port, expectation of higher imports due to low tariff value.
Earlier pressure also seen due to bumper production outlook of soybean for India and subdued domestic buying.
According to report, soy oil import jumped by 64.7% to 2.20 lt in February compared to 1.34 lt last year same month.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 740 Rupees per 10 kgs.

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