Commodity Updates

Soyabean trading range for the day is 3489-3595.    Soyabean prices gained amid supply concerns in global market and demand hope.    Lower production this year along with supply concerns in global market tempted farmers and stockist to hoard their producer in order to get higher returns.    NCDEX accredited warehouses soyabean stocks dropped by 511 tonnes to 213704 tonnes.    At the Indore spot market in top producer MP, soybean gained 1 Rupees to 3615 Rupees per 100 kgs.   Get Commodity Tips So Give a Missed Call @ 7089009189 And Like This Page >> Investment Visor .

ADRs ended mostly lower on Wednesday. In the banking space, ICICI Bank fell 0.90 percent at USD 10.99 and HDFC Bank shed 1 percent at USD 106.38.   In the IT space, Infosys was up 0.05 percent at USD 18.46 and Wipro gained 1.66 percent at USD 5.51.   In the other sectors, Tata Motors slipped 2.41 percent at USD 31.56 and Dr Reddy's Laboratories was down 0.25 percent at USD 39.44.    Get Commodity Tips So Give a Missed Call @ 7089009189 And Like This Page >> Investment Visor .

The Indian rupee gained in the early trade on Thursday. It has opened higher by 17 paise at 63.52 per dollar versus previous close 63.69.   The US dollar continues to weaken further with dollar index at 3-year lows. The key trigger for weakness is a statement from the US Treasury secretary that a weaker dollar helps US exports.   Get Commodity Tips So Give a Missed Call @ 7089009189 And Like This Page >> Investment Visor .

Silver on MCX settled down -0.63% at 38733 as pressure seen amid an end to uncertainty created by a three-day U.S. government shutdown capped gains. Data showed euro zone consumer confidence jumped much more than expected in January, underlining the strong momentum in its economy.    Bullion traded in a tight range after the U.S. Senate voted to pass a temporary spending plan through Feb. 8 to end the government shutdown. The dollar extended recent weakness against a basket of major currencies to hit a fresh three-year low, after the euro surged on consumer confidence data indicating strong momentum in the region's economy.   Trading Ideas:    * Silver trading range for the day is 38056-39424.    * Silver dropped as pressure seen amid an end to uncertainty created by a three-day U.S. government shutdown capped gains.   * Data showed euro zone consumer confidence jumped much more than expected in Janu...

Gold on MCX settled up 0.26% at 29911 as the U.S. dollar fell to fresh three-year lows, but an end to uncertainty created by a three-day U.S. government shutdown capped gains. The dollar extended recent weakness against a basket of major currencies to hit a fresh three-year low, after the euro surged on consumer confidence data indicating strong momentum in the region's economy.   Trading Ideas:    * Gold trading range for the day is 29724-30026.   * Gold gained as the U.S. dollar fell to fresh three-year lows, but an end to uncertainty created by a three-day U.S. government shutdown capped gains.   * The U.S. economy is likely to grow in 2018 at its fastest pace in three years, fuelled by the biggest tax overhaul since the 1980s.   * Gold demand in China firmed as retailers stocked up ahead of the Chinese New Year while price discounts widened in India.   Get Daily Profit Using Our Commodity Tips ...

Crude palm Oil on MCX settled up by 0.96% at 559.1 on profit booking after prices gained on the back of bullish sentiment at an industry conference. Palm oil output is expected to see seasonal declines in the first quarter of the year before picking up and heading towards peak production in the third quarter.   Indonesia's crude palm oil (CPO) exports in December likely edged lower because of lower demand after an import tax hike started on edible oils in India, Indonesia's biggest CPO importer, while output fell for a second month. Exports of CPO from Indonesia, the world's biggest palm oil producer, fell slightly to 2.51 million tonnes in December from 2.52 million in November.   Trading Ideas:    * CPO trading range for the day is 546.2-567.2.    * Crude palm oil ended with losses on profit booking after prices gained on the back of bullish sentiment at an industry conference.    * Palm oil output is ex...

Cotton on MCX settled down by -0.96% at 20610 on higher output of the fibre. The rating agency expects cotton prices to drop to Rs 105-110 per kg in the cotton year (Oct-Sep) compared to around Rs 117 per kg a year ago. India's cotton acreage is estimated to have increased by 19% in the current year to 12.3 million hectares compared to 10.3 million hectares a year ago.   The planted area under cotton is also 7% higher than the 5-year average of 11.5 million hectares. However, total yield is estimated to drop by around 7% to 520kg/hectare on erratic monsoon rains and anticipated pest-related woes. Lower cotton prices may be a boon in disguise for spinners as it will help protect their margin.   Trading Ideas:    * Cotton trading range for the day is 20377-20997.    * Cotton prices remained under pressure on higher output of the fibre.    * India's cotton acreage is estimated to have increased by 19% in the...