Thursday, 28 July 2016

EPIC RESEARCH NCDEX COTTON UPDATE OF 28 JULY 2016

Cotton trading range for the day is 21587-22047. Cotton prices gained supported on expectation of lower production in the next season. The production of cotton is likely to decline by 12.4% to hit the lowest in five years for the current crop year. The CAB has lowered the forecast and now estimates the output at 33.8 million bales for the current crop year. Cotton prices in spot market gained by 50.00 rupees and settled at 22520.00 rupees.
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EPIC RESEARCH NCDEX CARDAMOM UPDATE OF 28 JULY 2016

Cardamom trading range for the day is 929.7-944.3. Cardamom prices ended with gains supported by rising demand in the spot market. Further, restricted supplies from producing regions and rising domestic as well as export demand in the spot market also fuelled the uptrend. Last year, cardamom harvest was done twice during the same season, in stark contrast, the crop could not be harvested even once this year. Cardamom prices in spot market gained by 7.50 rupees and settled at 908.10 rupees.
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EPIC RESEARCH NCDEX MUSTARD SEED UPDATE OF 28 JULY 2016

Rmseed trading range for the day is 4776-4956. Mustard seed dropped on continued profit booking tracking weakness in spot demand. USDA's WASDE report showed rapeseed imports jumped by 200,000 tons to 2.5 million tons. NCDEX accredited warehouses mustard seed stocks gained by 9 tonnes to 52414 tonnes. In Alwar spot market in Rajasthan the prices dropped -51.5 rupees to end at 4952 rupees per 100 kg.
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EPIC RESEARCH NCDEX MAIZE UPDATE OF 28 JULY 2016

Maize trading range for the day is 1559-1611. Maize prices ended with losses tracking weakness in spot demand and overseas prices. India has asked a government-backed trader to import an extra half a million tonnes of duty-free, non-GMO corn to keep a lid on prices. At Khanna market in Punjab estimated market supply was at 5250 Quintal, down by 750 Quintal from previous trading day. In Nizamabad maize spot prices dropped -13.8 rupees to 1727.85 rupees per 100kgs.    
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