Showing posts with label AGRI NCDEX/MCX Tips. Show all posts
Showing posts with label AGRI NCDEX/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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Thursday, 2 May 2019

CAPITALSTARS THURSDAY SOYBEAN FUTURES AGRI MARKET NEWS UPDATE 02 May 2019

Soybean futures (May) is expected to trade sideways to down in the range of 3640- 3715 levels.

  CAPITALSTARS INVESTMENT ADVISOR
The buying pace of stockiest and the millers are sluggish in the current scenario due to surplus imported veg oil stocks at domestic front along with bearishglobal market keeping the overall sentiments on lower end. A surge in the import of vegetable oils in India has prompted the domestic oilseed crushing and refining industry to cut operating capacity to a historic low in order to sustain in the business for future. On CBOT, The most active soybean futures were little changed at $8.51-1/2 a bushel, having fallen 0.3 percent on Wednesday when prices hit a low of $8.44-1/4 a bushel - the lowest since Oct 29. Soybean market eyes U.S.- China trade talks. * The two nations held “productive” trade talks in Beijing on Wednesday and will continue discussions in Washington next week, U.S. Treasury Secretary Steven Mnuchin said. Mustard futures (May) will probably remain stable taking support near 3720 levels. There is pick-up in demand from mustard meal exporters based on the talks that China will start importing Indian mustard meal in July, about eight months after it lifted a ban on mustard meal of Indian origin. Soyoil futures (May) may trade in the range broader range of 735-742 levels, while CPO futures (May) may decline towards 520-518. On the Bursa MalaysiaDerivatives, Palm oil is expected falling more towards the next support at 2,063 ringgit. The fundamentals cite that Malaysia's palm oil output is forecast to rise to 20 million tonnes in 2019, up from as much as 19.5 million tonnes forecast earlier.

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CAPITALSTARS THURSDAY COTTON FUTURES AGRI MARKET NEWS UPDATE 02 May 2019

Cotton futures (May) will possibly remain trapped in a sideways range of 22000- 22350.

  CAPITALSTARS INVESTMENT ADVISOR
The reason being is that the cotton in the international market is in a consolidation zone 75.50-76.85 cents per pound. ICE Cotton futures were 7 to 19 points lower in most nearby contracts on Wednesday. As expected, the Federal Reserve left interest rates UNCH following their two-day meeting on Wednesday. US and Chinese trade reps had “productive talks” in Beijing this week according to Treasury Sec Mnuchin. China is expected to head to DC next week. USDA 5 will be out with their Export Sales report on Thursday morning. Back at home, it isbeing estimated that cotton import may rise 80% this year due to drought in major growing states. Chana futures (May) is expected to crash further towards 4270 levels on estimates of higher pulses output in the upcoming Kharif season. For pulses in 2019-20, the government has set Kharif output target of 10.1 MT, higher than 9.01 MT production pegged in 2018-19. According to official reports, Centre has 964,845 tons pulses seed for sowing in 2019-20 (Jul-Jun) kharif season, higher than the requirement of 821,242 tons. Guar seed futures (May) is expected to consolidate in the range of 4260-4360, while guar gum futures (May) may trade sideways in the range of 8550-8750 levels. The market participants are currently taking cues from the movement of monsoon. The latest reports suggest that the onset of the South-West Monsoon is likely to be delayed by a week this year. The long period average date of monsoon onset over Kerala is June 1.


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Tuesday, 30 April 2019

CAPITALSTARS TUESDAY TURMERIC FUTURES AGRI MARKET NEWS UPDATE 30 APRIL 2019

We may see lower level buying in turmeric futures (May) in the range of 6350-6420 levels.

  CAPITALSTARS INVESTMENT ADVISOR
The positive sentiments prevailing on the spot markets may lift the counter to 6700-6750 levels. In the present scenario, buyers are reported to be active in the spot as new crop supply continued. New turmeric supply in to Andhra Pradesh Duggirala market has started. Local traders are likely to become active in coming days at lower price levels as Maharashtra production estimate reported lower as a result of drought condition. Demand for the new crop arriving in Nanded, Hingoli and Basmath, the key markets in Maharashtra, is seen higher. On the supply side, as per trade information, currently, all India turmeric stocks are reported around 15 - 18 lakh bags in the spot. Cardamom on the national bourse is trading at two year high owing to anticipation of severe supply shortages in the ongoing season. Going ahead, we may see more upside of 2000-2100 levels. At the auctions, the premium variety touched Rs.2,000 per kg. The local prices have been ruling above Rs 1,200 per kg for several months. Last time the prices touched such a level was back in 2011. The prolonged dry weather in the past few months led to drying of the plants. On the demand side, small quantities are getting exported to other Gulf countries like Dubai, Kuwait and Doha. The exporters are willing to buy at higher rates as no other good quality cardamom is available in the market now. Coriander futures (May) may rise towards 7400-7450 levels tracking bullish sentiments prevailing on the spot markets. The market participants are expecting shortages & anticipating higher demand day’s ahead.


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CAPITALSTARS TUESDAY COTTON FUTURES AGRI MARKET NEWS UPDATE 30 APRIL 2019

Cotton futures (Apr) will possibly remain trapped in a sideways range of 22000-22300.

 CAPITALSTARS INVESTMENT ADVISOR
The reason being is that the cotton in the international market is in a consolidation zone 77-79 cents per pound. The counter is facing the heat of the tussle between the higher dollar index pressuring the ICE cotton futures & on the contrary a weaker rupee giving support to the domestic prices. The overall bias will be negative owing to reports that China will sell 1 million tons of cotton from its state reserves as part of a scheme to replace old stocks, marking the biggest reserve auction in at least 13 months. About 10,000 tons of cotton will be auctioned on every workday between May 5 and Sept. 30, the administration said. On the demand side, the marketparticipants would also judge the U.S export sales numbers & take further cues for the direction of prices. Chana futures (May) is expected to crash further towards 4300-4270 levels on estimates of higher pulses output in the upcoming Kharif season. For pulses in 2019-20, the government has set Kharif output target of 10.1 MT, higher than 9.01 MT production pegged in 2018-19. According to official reports, Centre has 964,845 tons pulses seed for sowing in 2019-20 (Jul-Jun) kharif season, higher than the requirement of 821,242 tons. Guar seed futures (May) is expected to consolidate in the range of 4290-4340, while guar gum futures (May) may trade with a negative bias & descend towards 8550 levels. The correction in oil prices in the international market & a declining guar gum-guar seed ratio is giving a signal that demand for the commodities will be sluggish.


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