Trading Ideas:
Menthaoil trading range for the day is 902.3-977.7.
Mentha oil spot at Sambhal closed at 1038.30 per 1kg. Spot prices is up by Rs.0.80/-. # Mentha oil prices gained taking positive cues from spot market on strong demand from consuming industries.
Further, tight stocks position on restricted supplies from producing regions, too supported mentha oil prices.
India’s mentha oil output was estimated to remain lower this year from 32,000 tonnes produced during last year.
Soyabean
Trading Ideas:
Soyabean trading range for the day is 3119-3225.
Soyabean prices dropped on profit booking after prices gained due to higher demand for the new season soybean crop.
The estimate is for India’s 2016-17 soybean production to be an all-time high of 14.22 million tonnes, 66 per cent more than last year.
NCDEX accredited warehouses soyabean stocks gained by 5521 tonnes to 19578 tonnes. # At the Indore spot market in top producer MP, soybean gained 1 rupee to 3074 rupee per 100 kgs.
Turmeric
Trading Ideas:
Turmeric trading range for the day is 7104-7256.
Turmeric dropped because of better crop prospects and lack support apprehending further losses when new crop will pour in the market.
The crop is in good to excellent condition in regions of Karnataka, Maharashtra and Telengana. # NCDEX accredited warehouses turmeric stocks dropped by 10 tonnes to 3088 tonnes.
In Nizamabad, a major spot market in AP, the price ended at 7483.3 rupees remains unchanged at0 rupees.
Jeera
Trading Ideas:
Jeera trading range for the day is 17005-17965.
Jeera dropped on late profit booking after prices gained on emergence of domestic and export buying amid tight stocks.
Pressure also seen as sowing of jeera is likely to increase this year because of prevailing high prices.
NCDEX accredited warehouses jeera stocks dropped by 209 tonnes to 1623 tonnes.
Ref.Soyaoil
Trading Ideas:
Ref.Soya oil trading range for the day is 668-678.
Ref soyoil prices dropped tracking weakness in spot demand after prices gained on supply worries in global market.
Oilmeal exports for September fell 35 per cent to 90,907 tonnes from 1,39,649 tonnes in the corresponding period last year.
US oilseeds processors have crushed 4.219 million tonnes of soybean during August 2016 which is down from 4.337 million tonnes.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 672.2 rupees per 10 kgs.
Maize
Trading Ideas:
Maize trading range for the day is 1375-1409.
Maize dropped tracking weakness in spot demand and overseas prices weighed down by ample supplies.
However losses were checked by a U.S. Department of Agriculture report pegging the harvest pace behind expectations.
USDA said 75 percent of the corn crop was harvested as of now, behind forecasts for 77 percent complete.
In Nizamabad maize spot prices remains unchanged at0 rupees to 1458.1 rupees per 100kgs.
Cardamom
Trading Ideas:
Cardamom trading range for the day is 1283.8-1363.8.
Cardamom prices dropped on profit booking after prices gained because of fall in output and tight stocks amid good demand.
Present dry weather in the main producing centres may limit the number of picking impacting the output.
Total arrivals at the auctions consisted of 20 per cent of 8 mm bold, 40 per cent 7-8 mm and the balance 40 per cent below 7 mm capsules.
Cardamom prices in spot market gained by 7.00 rupees and settled at 1196.10 rupees.
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