Showing posts with label \ Mcx Tips .. Show all posts
Showing posts with label \ Mcx Tips .. Show all posts

Monday, 6 May 2019

CAPITALSTARS MONDAY SOYBEAN FUTURES AGRI MARKET NEWS UPDATE 06 May 2019

The overall trend of soybean futures (May) is negative & hence it may witness sell on rise from 3630 levels to 3550- 3520.

As 2019 southwest monsoon forecast by India Meteorological Department is near normal, the market participants are expecting a bigger soybean crop this year. Moreover, the Centre has 304,090.1 tn certified soybean seeds, 30,121.5 tn higher than requirement for sowing in the upcoming kharif season beginning June. If the southwest monsoon fares well, then soybean crop is seen higher on year. Another major factor which is adding to the bearishness is the downtrend of Chicago soybean futures which is on track for a fourth straight weekly loss on expectations of higher U.S. production and slowing demand from top buyer China dragging prices lower. At present, Commodity funds are net sellers of soybeans, soymeal and soyoil. Soy oil futures (May) is expected to follow the bearish footsteps of soybean & selling pressure may drag the counter to 728 levels, if breaks 733 levels. The supplies are increasing in the spot markets due to imports of refined soybean oil and palmolein from Nepal at zero customs duty under a concession given to the least developed nations in the SAARC region. In addition, the imported soybean oil is being sold at Rs.5,000 per ton cheaper as compared with local soybean oil. The downtrend of CPO futures (May) will prevail as there is possibility that it may test 515-512 levels in days to come. The sentiments have turned pessimistic in the Malaysian markets after the forecast that palm oil output is estimated to rise to 20 million tons in 2019, up from as much as 19.5 million tons predicted earlier.


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Friday, 26 April 2019

CAPITALSTARS FRIDAY SOYBEAN FUTURES AGRI MARKET NEWS UPDATE 26 APRIL 2019

Soybean futures (May) is giving a lower closing since past two weeks & hence the short covering may face resistance near 3740 levels.

 CAPITALSTARS INVESTMENT ADVISOR
The market participants are turning more bearish in this oilseed due to hopes of higher production in 2019-20 (Jul-Jun) following forecast of "near normal" monsoon. Secondly, the decline in soybean prices on Chicago Board of Trade is weighing on sentiments. The two countries have tentatively scheduled a fresh round of face-to-face trade talks, with negotiators aiming to hold a signing ceremony in late May or early June. Mustard futures (May) is likely to face resistance near 3810 & the upside may remain capped. The absence of demand for mustard meal from China & sluggish buying by NAFED is weighing on the sentiments. Soy oil futures (May) is likely trade sideways in the range of 740-748 levels. On the spot markets, weak availability and improved demand lifted soy oil. CPO futures (May) will remain trapped in the range of 542-547 levels. The rising vegetable oilimports are creating a supply pressure & have forced the oilseed crushing units and edible oil refineries to reduce their operating capacity steadily to below the sustainable level of 30%. There is less demand for the domestically produced oils, since the imported refined oil is cheaper. The share of refined oil in the overall import in March has sequentially risen steadily to & with profit margins narrowing for processing of CPO in domestic refineries, Indian processing units are focusing on import of more refined oilthan crude oil. 


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CAPITALSTARS FRIDAY TURMERIC FUTURES AGRI MARKET NEWS UPDATE 26 APRIL 2019

 Turmeric futures (May) is likely to trade higher & test 6650-6700 levels.

  CAPITALSTARS INVESTMENT ADVISOR
On the spot markets, both the price of turmeric and arrivals increased on Thursday. Usually, when the arrival of turmeric increases traders will quote a lower price and purchase the same. The arrival in all the markets has increased and totally 7,200 bags arrived for sale on Thursday. Traders, after examining the samples, quoted higher prices and purchased the same. This is due to the demand received by traders and also the quality. The bull-run is likely to prevail in jeera futures (May) as it may take support near 16950 levels & trade with an upside bias. The increase is attributed to peak in export demand. March and April are the prominent period for cumin exports from India. In the present scenario, we are witnessing a shift in demand to India as output in major producers Syria and Turkey is seen lower. Shortages in the international market have given the Indian exporters an edge to become the sole suppliers & become a price setter. Coriander futures (May) trend has turned positive & will possibly trade on a steadier note taking support above 7400 levels. This season there are concerns of output. Cardamom futures (May) is expected to test 1835-1850 levels on the higher side. Rising demand and a plunge in output may drive small cardamom prices to record level this year. The average prices crossed Rs 1,800 per kg on Wednesday while the premium variety touched Rs 2,000 per kg. The local prices have been ruling above Rs 1,200 per kg for several months. 


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Tuesday, 23 April 2019

CAPITALSTARS TUESDAY TURMERIC FUTURES AGRI MARKET NEWS UPDATE 23 APRIL 2019

In turmeric futures (May), consolidation with a downside bias can be seen in a broader range of 6250-6450.

 CAPITALSTARS INVESTMENT ADVISOR
The sentiments of the market participants are not encouraging as the farmers are in a hurry to sell their produces since the spot prices are trading near to 3 months low. It is reported that nearly 80% of turmeric farmers of Nizamabad district are selling their crop had sold the crop as the yield is fetching them below Rs.7,000 a quintal, much below their cost of cultivating of Rs.8,000 per quintal. Taking advantage of the lower price, the traders are buying this yellow spice from Nizamabad & selling in the Sangli market, making a profit of at least Rs.2,000 per quintal. The bull-run is likely to prevail in jeera futures (May) and in days to come it may test 17100 levels. The increase is attributed to peak in export demand. March and April are the prominent period for cumin exports from India. In the present scenario, we are witnessing a shift in demand to India as output in major producers Syria and Turkey is seen lower. Shortages in the international market have given the Indian exporters an edge to become the sole suppliers & become a price setter. Coriander futures (May) is trapped in the range of 7050-7250 since past two weeks. This commodity is seeing selling pressure from higher levels, while on the contrary also witnessing buying on dips. However, the overall bias is positive amidst due to concerns of output & is expected to take support near 7000 levels. 



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CAPITALSTARS TUESDAY COTTON FUTURES AGRI MARKET NEWS UPDATE 23 APRIL 2019

 Cotton futures (Apr) is expected to hover range bound within 22050-22250 levels.

 CAPITALSTARS INVESTMENT ADVISOR
Restricted arrivals are slowing down the pace of overseas demand due to which cotton exports from the country are pegged at 47 lakh bales (one bale weighs 170kg) in 2018-19, which is the lowest since 2009-10. The domestic demand is also sluggish & the surging rates of cotton, in combination with a shortage, have forced Tamil Nadu-based spinning mills to look at imports to meet their production requirements. Chana futures (May) may trade with a negative bias & selling from higher levels may bring the counter down to 4350. The expectation of country importing more pulses & lack of demand in the spot markets due to absence of bulk buying will exert pressure on pulses in days to come. Recently, the Commerce Ministry has laid down a procedure for import of 2 lakh tonnes of pigeon peas/ toor dal, 1.5 lakh tonnes urad dal, 1.5 lakh tonnes moong dal and 1.5 lakh tonnes peas (including yellow peas, green peas, dun peas, and kaspa peas) for the current fiscal and has invited applications from millers. We may see more downside in guar seed & guar gum futures (May) as it may test 4290-4250 & 8600-8550 respectively. The reason for this bearishness is the forecast of good monsoon & guar being a rain-fed crop, this is a major negative factors for the prices. The Australian Bureau ofMeteorology (BoM) has updated that El Nino would be short-lived and weak. This forecast is supporting the India Met Department (IMD) outlook that monsoon would be close to normal. The BoM has also mentioned that the Indian Ocean Dipole (IOD) could possibly turn into a positive phase during June to November, giving way to a healthy Indian monsoon. 



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