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  • Mtechtips Commodity Market News 2

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    MTECHTIPS COMMODITY MARKET NEWS 2 MTECHTIPS:-NCDEX Pepper sideways; support at 36200, 36800 resistance Pepper futures for March delivery on India's National Commodity and Derivatives Exchange (NCDEX) is sideways on subdued domestic and export demand.The futures on NCDEX was down by 0.14 percent at Rs.39630 per 100 kg as of 10.59 AM IST“Over all trend looks sideways at current levels. Support is there at 36200 while 36800 is the resistance for intra-day session.“Break out to one of the sides will give clear direction to the prices, trading below 36200 levels may see the commodity moving to 35800 while climbing above 36800 level may take futures to 37400 in the intra-day session,” he added.Low volumes in both spot and futures markets is putting pressure on movement in futures.Upcoming North Indian demand is expected to keep prices firm in the long term.However, reports of pepper harvest in Kerala and fall in the international demand are expected to cause further fall in the near term.As per NCDEX circular, the launch of June 2013 pepper contract has been postponed. MTECHTIPS:-NCDEX Soybean bearish until commodity breaks and sustains above 3240 Overall trend of soybean on the NCDEX for March delivery is looking bearish until it breaks and sustains above 3240 level.The contract is trading on a positive note at Rs.3197, a gain of 1.01% as of 11.03 AM IST, Thursday.“Overall trend of soybean for March is looking bearish until breaks and sustain above 3240 level.“Support for the commodity is seen at 3150 level. At current levels, some short covering is also expected,” he added.As per latest USDA’s WASDE report, global soybean production is projected at 269.5 million tons vs 269.4 million tons in January report.The Brazil soybean crop is expected to remain at 83.5 million tons vs 82.5 million tons predicted in January. The Argentina soybean crop is projected at 53 million tons . MTECHTIPS:-NCDEX Barley: Short-term bearish; support 1350 On the NCDEX, barley for April delivery is looking bearish until the commodity breaks and sustains above 1440 level in short term. Support is expected at 1350 level for the commodity.The contract was trading on a positive note at Rs.1394, a gain of 1.34% as of 11.35 AM IST, Thursday.“Support for the commodity is seen at 1350 level. Sell on rise strategy is advised to the clients “Over all trend is looking bearish until the commodity breaks and sustain above 1440 level,” he added.Increased supply in physical markets and poor demand from beer and cattle feed making industries are pressurizing the prices in short term.Barley sowing acreage was reported at 7.68 lakh hectares, up by almost 00.20% from the last year, according to the latest release by the Ministry of Agriculture, Govt. of India.In Rajasthan, barley sowing acreage was reported at 3.75 Lakh hectares up from targeted area for 2012 – 2013, as per the data released by the Department of Agriculture, Rajasthan. MTECHTIPS:-Global Cotton mill use may gain on moderation in prices Cotton is unlikely to reclaim market share unless its price trades below polyester said Gary Adams of Memphis-USA based National Cotton Council (NCC).However, in the recent months, cotton prices have moderated, which is stabilizing cotton’s market share. This will lead to a modest growth in the domestic consumption of cotton in the United States this year, according to Gary Adams. Overall, the global cotton mill use will increase this year by 2.5% from 2012.According to NCC, China’s current cotton policy puts stress on China’s textile mills enabling their shift towards synthetics. The uncertainty on the release of cotton from national reserves in China adds to the complexity.According to NCC, China will continue to build its cotton reserves reaching a level of 38.8 million bales (480 lbs each) on July 31st 2014.In 2013, NCC estimates outside of China, mill use is expected to increase while production will decrease. Cotton mill use in Pakistan and India will see

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    MTECHTIPS COMMODITY MARKET NEWS 2 MTECHTIPS:-NCDEX Pepper sideways; support at 36200, 36800 resistance Pepper futures for March delivery on India's National Commodity and Derivatives Exchange (NCDEX) is sideways on subdued domestic and export demand.The futures on NCDEX was down by 0.14 percent at Rs.39630 per 100 kg as of 10.59 AM IST“Over all trend looks sideways at current levels. Support is there at 36200 while 36800 is the resistance for intra-day session.“Break out to one of the sides will give clear direction to the prices, trading below 36200 levels may see the commodity moving to 35800 while climbing above 36800 level may take futures to 37400 in the intra-day session,” he added.Low volumes in both spot and futures markets is putting pressure on movement in futures.Upcoming North Indian demand is expected to keep prices firm in the long term.However, reports of pepper harvest in Kerala and fall in the international demand are expected to cause further fall in the near term.As per NCDEX circular, the launch of June 2013 pepper contract has been postponed. MTECHTIPS:-NCDEX Soybean bearish until commodity breaks and sustains above 3240 Overall trend of soybean on the NCDEX for March delivery is looking bearish until it breaks and sustains above 3240 level.The contract is trading on a positive note at Rs.3197, a gain of 1.01% as of 11.03 AM IST, Thursday.“Overall trend of soybean for March is looking bearish until breaks and sustain above 3240 level.“Support for the commodity is seen at 3150 level. At current levels, some short covering is also expected,” he added.As per latest USDA’s WASDE report, global soybean production is projected at 269.5 million tons vs 269.4 million tons in January report.The Brazil soybean crop is expected to remain at 83.5 million tons vs 82.5 million tons predicted in January. The Argentina soybean crop is projected at 53 million tons . MTECHTIPS:-NCDEX Barley: Short-term bearish; support 1350 On the NCDEX, barley for April delivery is looking bearish until the commodity breaks and sustains above 1440 level in short term. Support is expected at 1350 level for the commodity.The contract was trading on a positive note at Rs.1394, a gain of 1.34% as of 11.35 AM IST, Thursday.“Support for the commodity is seen at 1350 level. Sell on rise strategy is advised to the clients “Over all trend is looking bearish until the commodity breaks and sustain above 1440 level,” he added.Increased supply in physical markets and poor demand from beer and cattle feed making industries are pressurizing the prices in short term.Barley sowing acreage was reported at 7.68 lakh hectares, up by almost 00.20% from the last year, according to the latest release by the Ministry of Agriculture, Govt. of India.In Rajasthan, barley sowing acreage was reported at 3.75 Lakh hectares up from targeted area for 2012 – 2013, as per the data released by the Department of Agriculture, Rajasthan. MTECHTIPS:-Global Cotton mill use may gain on moderation in prices Cotton is unlikely to reclaim market share unless its price trades below polyester said Gary Adams of Memphis-USA based National Cotton Council (NCC).However, in the recent months, cotton prices have moderated, which is stabilizing cotton’s market share. This will lead to a modest growth in the domestic consumption of cotton in the United States this year, according to Gary Adams. Overall, the global cotton mill use will increase this year by 2.5% from 2012.According to NCC, China’s current cotton policy puts stress on China’s textile mills enabling their shift towards synthetics. The uncertainty on the release of cotton from national reserves in China adds to the complexity.According to NCC, China will continue to build its cotton reserves reaching a level of 38.8 million bales (480 lbs each) on July 31st 2014.In 2013, NCC estimates outside of China, mill use is expected to increase while production will decrease. Cotton mill use in Pakistan and India will see

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    Mtechtips Commodity Market News 2

    Enviado por

    MtechTips
    MTECHTIPS COMMODITY MARKET NEWS 2 MTECHTIPS:-NCDEX Pepper sideways; support at 36200, 36800 resistance Pepper futures for March delivery on India's National Commodity and Derivatives Exchange (NCDEX) is sideways on subdued domestic and export demand.The futures on NCDEX was down by 0.14 percent at Rs.39630 per 100 kg as of 10.59 AM IST“Over all trend looks sideways at current levels. Support is there at 36200 while 36800 is the resistance for intra-day session.“Break out to one of the sides will give clear direction to the prices, trading below 36200 levels may see the commodity moving to 35800 while climbing above 36800 level may take futures to 37400 in the intra-day session,” he added.Low volumes in both spot and futures markets is putting pressure on movement in futures.Upcoming North Indian demand is expected to keep prices firm in the long term.However, reports of pepper harvest in Kerala and fall in the international demand are expected to cause further fall in the near term.As per NCDEX circular, the launch of June 2013 pepper contract has been postponed. MTECHTIPS:-NCDEX Soybean bearish until commodity breaks and sustains above 3240 Overall trend of soybean on the NCDEX for March delivery is looking bearish until it breaks and sustains above 3240 level.The contract is trading on a positive note at Rs.3197, a gain of 1.01% as of 11.03 AM IST, Thursday.“Overall trend of soybean for March is looking bearish until breaks and sustain above 3240 level.“Support for the commodity is seen at 3150 level. At current levels, some short covering is also expected,” he added.As per latest USDA’s WASDE report, global soybean production is projected at 269.5 million tons vs 269.4 million tons in January report.The Brazil soybean crop is expected to remain at 83.5 million tons vs 82.5 million tons predicted in January. The Argentina soybean crop is projected at 53 million tons . MTECHTIPS:-NCDEX Barley: Short-term bearish; support 1350 On the NCDEX, barley for April delivery is looking bearish until the commodity breaks and sustains above 1440 level in short term. Support is expected at 1350 level for the commodity.The contract was trading on a positive note at Rs.1394, a gain of 1.34% as of 11.35 AM IST, Thursday.“Support for the commodity is seen at 1350 level. Sell on rise strategy is advised to the clients “Over all trend is looking bearish until the commodity breaks and sustain above 1440 level,” he added.Increased supply in physical markets and poor demand from beer and cattle feed making industries are pressurizing the prices in short term.Barley sowing acreage was reported at 7.68 lakh hectares, up by almost 00.20% from the last year, according to the latest release by the Ministry of Agriculture, Govt. of India.In Rajasthan, barley sowing acreage was reported at 3.75 Lakh hectares up from targeted area for 2012 – 2013, as per the data released by the Department of Agriculture, Rajasthan. MTECHTIPS:-Global Cotton mill use may gain on moderation in prices Cotton is unlikely to reclaim market share unless its price trades below polyester said Gary Adams of Memphis-USA based National Cotton Council (NCC).However, in the recent months, cotton prices have moderated, which is stabilizing cotton’s market share. This will lead to a modest growth in the domestic consumption of cotton in the United States this year, according to Gary Adams. Overall, the global cotton mill use will increase this year by 2.5% from 2012.According to NCC, China’s current cotton policy puts stress on China’s textile mills enabling their shift towards synthetics. The uncertainty on the release of cotton from national reserves in China adds to the complexity.According to NCC, China will continue to build its cotton reserves reaching a level of 38.8 million bales (480 lbs each) on July 31st 2014.In 2013, NCC estimates outside of China, mill use is expected to increase while production will decrease. Cotton mill use in Pakistan and India will see

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    MTECHTIPS COMMODITY MARKET NEWS 2

    MTECHTIPS:-NCDEX resistance Pepper sideways; support at 36200, 36800

    Pepper futures for March delivery on India's National Commodity and Derivatives Exchange (NCDEX) is sideways on subdued domestic and export demand.The futures on NCDEX was down by 0.14 percent at Rs.39630 per 100 kg as of 10.59 AM ISTOver all trend looks sideways at current levels. Support is there at 36200 while 36800 is the resistance for intra-day session.Break out to one of the sides will give clear direction to the prices, trading below 36200 levels may see the commodity moving to 35800 while climbing above 36800 level may take futures to 37400 in the intra-day session, he added.Low volumes in both spot and futures markets is putting pressure on movement in futures.Upcoming North Indian demand is expected to keep prices firm in the long term.However, reports of pepper harvest in Kerala and fall in the international demand are expected to cause further fall in the near term.As per NCDEX circular, the launch of June 2013 pepper contract has been postponed.

    MTECHTIPS:-NCDEX Soybean bearish until commodity breaks and sustains above 3240
    Overall trend of soybean on the NCDEX for March delivery is looking bearish until it breaks and sustains above 3240 level.The contract is trading on a positive note at Rs.3197, a gain of 1.01% as of 11.03 AM IST, Thursday.Overall trend of soybean for March is looking bearish until breaks and sustain above 3240 level.Support for the commodity is seen at 3150 level. At current levels, some short covering is also expected, he added.As per latest USDAs WASDE report, global soybean production is projected at 269.5 million tons vs 269.4 million tons in January report.The Brazil soybean crop is expected to remain at 83.5 million tons vs 82.5 million tons predicted in January. The Argentina soybean crop is projected at 53 million tons .

    MTECHTIPS:-NCDEX Barley: Short-term bearish; support 1350


    On the NCDEX, barley for April delivery is looking bearish until the commodity breaks and sustains above 1440 level in short term. Support is expected at 1350 level for the commodity.The contract was trading on a positive note at Rs.1394, a gain of 1.34% as of 11.35 AM IST, Thursday.Support for the commodity is seen at 1350 level. Sell on rise strategy is advised to the clients Over all trend is looking bearish until the commodity breaks and sustain above 1440 level, he added.Increased supply in physical markets and poor demand from beer and cattle feed making industries are pressurizing the prices in short term.Barley sowing acreage was reported at 7.68 lakh

    hectares, up by almost 00.20% from the last year, according to the latest release by the Ministry of Agriculture, Govt. of India.In Rajasthan, barley sowing acreage was reported at 3.75 Lakh hectares up from targeted area for 2012 2013, as per the data released by the Department of Agriculture, Rajasthan.

    MTECHTIPS:-Global Cotton mill use may gain on moderation in prices


    Cotton is unlikely to reclaim market share unless its price trades below polyester said Gary Adams of Memphis-USA based National Cotton Council (NCC).However, in the recent months, cotton prices have moderated, which is stabilizing cottons market share. This will lead to a modest growth in the domestic consumption of cotton in the United States this year, according to Gary Adams. Overall, the global cotton mill use will increase this year by 2.5% from 2012.According to NCC, Chinas current cotton policy puts stress on Chinas textile mills enabling their shift towards synthetics. The uncertainty on the release of cotton from national reserves in China adds to the complexity.According to NCC, China will continue to build its cotton reserves reaching a level of 38.8 million bales (480 lbs each) on July 31st 2014.In 2013, NCC estimates outside of China, mill use is expected to increase while production will decrease. Cotton mill use in Pakistan and India will see good growth this year.

    MTECHTIPS:-NCDEX Maize bearish on subdued demand from poultry, starch industries


    Maize (Corn) futures on India's National Commodity and Derivatives Exchange (NCDEX) is negative on subdued demand, especially from poultry and starch industries.Bulk buyers are not actively participating in maize buying in the spot market, expecting further fall in the prices.Overall trend looks bearish. Resistance is there at 1300 followed by next resistance at 1320 levels. Support exists at 1270 and on breaching the same downside movement towards 1240 levels is expected,Intraday traders can follow sell at higher levels strategy, he added.NCDEX maize futures for March delivery was down by 0.23 percent at Rs.1292 per 100 kg as of 12.39 PM IST on Thursday.

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