Friday, 17 November 2017

EPIC RESEARCH NCDEX REFINED SOYA OIL UPDATE OF 17 NOVEMBER 2017

Ref.Soya oil trading range for the day is 689-711.Ref soyoil ended with losses tracking weakness in spot demand as import duty was not hiked.As per latest SEA import report, Soybean oil imports slumped 21 % to 220,200 tons in October from a year earlier.The Soybean Processors Association of India has revised its estimates of carryover stocks of bean for Oct 2017.At the Indore spot market in Madhya Pradesh, soyoil was steady at 680 Rupees per 10 kgs.

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EPIC RESEARCH NCDEX TURMERIC UPDATE OF 17 NOVEMBER 2017

Turmeric trading range for the day is 6708-7120.Turmeric gained but miseed the psychological level of 7000 mark as fall in demand coupled with ample stock position on increased supplies.This week prices came under pressure as low demand adversely affected prices which were pounded further by higher stocks in mandis.At the Erode Turmeric Merchants Association, finger turmeric went for 5780-8569 a quintal; the root variety at 5522-7612. Of the arrival of 1739 bags, 609 were sold.In Nizamabad, a major spot market in AP, the price ended at 7335.7 Rupees remains unchanged at0 Rupees.

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EPIC RESEARCH NCDEX RM SEED UPDATE OF 17 NOVEMBER 2017

Rmseed trading range for the day is 3912-3962.Mustard seed gained amid steady demand for rapeseed crushing despite of good sowing progress.As per rabi sowing report from the government, the area under mustard is little lower than last year’s acreage at 37 lakh ha.NCDEX accredited warehouses mustard seed stocks gained by 370 tonnes to 2467 tonnes.In Alwar spot market in Rajasthan the prices remains unchanged by 0 Rupees to end at 3947.75 Rupees per 100 kg.

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EPIC RESEARCH NCDEX CRUDE PALM OIL UPDATE OF 17 NOVEMBER 2017

CPO trading range for the day is 531.2-565.Crude palm oil dropped on reports that palm oil import into the country climb for the ninth month.During Nov-Sep period, crude palm oil import is 57.34 lakh tonnes, up 9.5% from 52.34 lt during the same period of the previous oil year.The imports of palm oil rose by 10.06% to 92.93 lakh tonnes (LT) in 2016-17 marketing year that ended in October.Crude palm oil prices in spot market dropped by 2.60 rupees and settled at 541.70 rupees.

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EPIC RESEARCH NCDEX JEERA UPDATE OF 17 NOVEMBER 2017

Jeera trading range for the day is 19515-19835.Jeera hold 19700 level as support seen after the domestic buyers actively started procuring, while the fundamentals are strong in Jeera as limited stock is left in the markets.Jeera sowing will start soon as the farmers are waiting for the temperature to cool down once sowing starts demand will back in the market and prices are expected to test 20000 levels soon.Market participants see cumin seed acreage increasing by about 8-10% in Gujarat and the bordering districts of Rajasthan in 2017-18, following attractive prices that the seed spice fetched farmers last year.In Unjha, a key spot market in Gujarat, jeera remains unchanged at0 Rupees to end at 19090.6 Rupees per 100 kg.

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EPIC RESEARCH NCDEX MENTHA OIL UPDATE OF 17 NOVEMBER 2017

Mentha Oil trading range for the day is 1577-1699.4.Mentha oil spot at Sambhal closed at 1838.10 per 1kg. Spot prices were remaining unchange.Menth Oil once again dropped to settle at 1630 level on fresh selling seen after prices gained sharply since last week on lower supply ahead of key winter season demand which is rising.Traders anticipate this year’s production to below 35000 tons this year from good weather.As of now low arrivals amidst fall in acreage for sowing this year (due to 25% price hike in wheat) will be support for prices in near term.

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EPIC RESEARCH MCX SILVER UPDATE OF 17 NOVEMBER 2017

Silver trading range for the day is 39470-40024.Silver gained despite the recent trend of flattening yields faded but downside momentum was capped by dollar weakness on the back of soft economic data.The U.S. Department of Labor reported Thursday that initial jobless claims increased 10,000 a seasonally adjusted 249,000 for the week ended Nov. 11.Traders, however, shifted attention to tax reform as the House is poised to pass a massive overhaul of the U.S. tax code on Thursday as Republicans attempt to push through tax reform before year-end.


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EPIC RESEARCH MCX GOLD UPDATE OF 17 NOVEMBER 2017

Gold trading range for the day is 29404-29586.Gold trading in the range as gains are capped after US inflation cemented expectations for an interest rate hike from the Federal Reserve.US House of Representatives passed its version of sweeping tax cuts and investors weighed possible changes in fiscal policy.China's gold production growth is expected to slow over the years to 2026 because of depleting reserves and rising production costs.

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EPIC RESEARCH MCX NATURAL GAS UPDATE OF 17 NOVEMBER 2017

Natural Gas trading range for the day is 197.1-205.1.Natural gas prices settled at 200.40 reversed its earlier gains to trade lower despite data showing that domestic supplies in storage fell.EIA reported that US natural gas stocks decreased by 18 billion cubic feet for the week ending November 10.Demand is expected to be moderate for the rest of this week with warmer temperatures in the central and southern states.


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EPIC RESEARCH MCX CRUDE OIL UPDATE OF 17 NOVEMBER 2017

Crude Oil trading range for the day is 3557-3649.Crude Oil yestetrday continued to fall amid a flurry of US economic data and concerns about surging supplies put a dent in the market's recent rally.Inventories of U.S. crude rose by roughly 1.9mbls for the week ended Nov. 11, missing expectations of a draw of 2.2 barrels.Investors fretted over a potential uptick in global supply amid reports that Turkey and Iraq discussed resuming exports from the Kirkuk-Ceyhan pipeline.


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