NCDEX Updates
Jeera futures extend bearish trade on adequate supply
Jeera futures traded lower on NCDEX amid weak
demand in the spot market. Further, adequate stocks availability in the
physical market on account of higher supply from the producing belts
mainly led to decline in Jeera prices at futures trade.
The contract for May delivery
was trading at Rs 12,762.50, down by 0.33% or Rs 42.50 from its previous
closing of Rs 12,805.00. The open interest of the contract stood at
10,374.00 lots.
The contract for June delivery
was trading at Rs 12947.50, down by 0.40% or Rs 52.50 from its previous
closing of Rs 13000.00. The open interest of the contract stood at
9,120.00 lots on NCDEX.
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Potato futures drop on weak demand
Potato futures traded low on MCX as speculators
reduced their position on lack of fresh buying. Further sharp rise in
arrivals in major spot markets may also lead to a fall in Potato prices.
The contract for May delivery
was trading at Rs 1018.50 /100 KG, down by 0.71% or Rs 7.30 from its
previous closing of Rs 1025.80 /100 KG. The open interest of the
contract stood at 338.00 lots.
The contract for
June delivery was trading at Rs 997.00 /100 KG, down by 1.57% or Rs
15.90 from its previous closing of Rs 1012.90 /100 KG. The open interest
of the contract stood at 623.00 lots on MCX.
Pepper futures continue uptrend on NCDEX
Pepper futures continue to trade up on NCDEX on
buying support from exporters and domestic buyers. Due to reports of
release of around 6,800 tonnes of pepper locked in the warehouses since
last year-end some selling pressure was seen which impacted the pepper
price and resisted the rise.
The contract for May delivery was trading at Rs
35,460.00, up by 0.31% or Rs 110.00 from its previous closing of Rs
35,350.00. The open interest of the contract stood at 939 lots on NCDEX.
Above Rs 3950, NCDEX Soybean can test Rs 4040
Soybean futures at NCDEX continued to hit lower circuit of 3 percent
amid profit booking on news of good monsoon forecast and levy of
additional margin on buy position.
NCDEX has levied special margin of 10 percent on all long positions in May, June and July contracts from Tuesday onwards. Soybean future is likely to trade in range with weak bias for today on account of domestic subdued demand amid good monsoon forecast and levy of additional margin.
NCDEX Soybean May futures could extend its corrective declines towards
3740 levels, by testing 3925-3940 levels on upper end. Any close above
3950 can extend its gains towards 4040 levels again.
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