CAPITALSTARS FRIDAY COTTON FUTURES AGRI MARKET NEWS UPDATE 08 MARCH 2019

Cotton futures (Mar) is likely witness correction towards 20700 levels taking negative cues from the international market.

CAPITALSTARS INVESTMENT ADVISOR

Cotton futures posted losses of 92 to 115 points in the front months on Thursday. The US dollar index was stronger for the 6th day in a row, up 734 points on the day. Export sales of upland cotton in the week of Feb 28 were reported at 114,028 RB for old crop, with new crop at 25,692 RB. That was well below a year ago as total sales were 43.16% larger wk/wk. A net reduction of 1,227 RB was reported to China for 18/19, with 17,676 RB in sales for 19/20. Total export commitments for upland cotton are now lagging a year ago by 11%. Chana futures (Mar) will possibly face resistance near 4175 levels amid slackened physical trade activity, ongoing new arrivals. Sentiments are weak due to rise in selling of chana by the NAFED. The latest report on Nafed sale report of Chana Procured under PSS during Rabi-18 season as on 27 February, 2019 shows that the total procured Qty. (Net) is 27,24,051.17 MT, progressive quantity sold is 7,81,115.16 MT, leaving a surplus of 19,42,936.01 MT. Mentha oil (Mar) is expected to trade with an upside bias & can touch 1640, if trades above 1628 levels. There are reports of delayed sowing in the major growing regions due to the ongoing weather disturbances. As per reports, farmers are worried as untimely rains and inclement weather conditions may affect the crop yield. The market participantsare holding on to the optimistic view that prices of mentha oil should rise because of demand from local consumers due to falling stocks of the previous crop. The new crop of mentha oil is likely to hit markets by June. 

HAPPY TRADING!!!!!!!!!!!!!!!!!!

Click here to visit my website : https://bit.ly/1h8KZUM

Free Trial link : https://bit.ly/2u2GUhK

Any queries CALL US : 9977499927

CLICK HERE FOR GET DETAILS & JOIN OUR BEST ADVISORY  -

Visit our website : http://www.capitalstars.com/free-trial

CAPITALSTARS CALL US : 9977499927

Equity Tips , Intraday Stock Tips , FreeTrading Tips  , Sebi Registered advisory Company , Capitalstars Video Gallery,Free Trading tips , equity Tips , sebi registered advisory company , Mcx Tips  .