NCDEX Jeera Tips

 The spot jeera prices were trading in the range of Rs 13,000-14,000 per quintal (Rs 13,000-13,875 per quintal as on 30th October 2012) at Unjha Mandi. Best quality was trading in the range of Rs 14,000-15,000 per quintal (14,250-14,875 per quintal as on 30th October 2012). The total arrivals slumped to 1,100 bags from 4,000 bags, while demand was seen around 6,000 bags. The market was closed on Wednesday on account of local festival.

The NCDEX Jeera December contract moved in the range of Rs 14,612.50-14,805 and is currently trading lower at Rs 14,660 per quintal, down by Rs 140 or 0.95% per quintal.

NCDEX Tips

Barley futures swelled by almost Rs 6 per quintal in today's trading on the back of strong feed demand along with weak global production estimates.

Mounting demand of poultry industries during the winter season incited the strong gains in barley market. Moreover, weak global production also add some gains in domestic market . As per the latest report from United States Department of Agriculture (USDA) , the total barley production in 2012-13 is estimated at 130.7 million tonnes , down almost 1.5% from the last year . This is mainly due to weak production estimated in Australia and Russia.

The spot prices of barley in Delhi mandi were trading in the range Rs 1090-1150 per quintal , up almost Rs 10 per quintal from the last day. While the total arrivals were remained thin in the range of 400-500 bags .

The NCDEX November Barley contract added almost Rs 2 per quintal to trade at Rs 1306 per quintal in the last trading. The contract wilted almost 100 positions in open interest indicating short covering by traders.Technically, prices are likely to witness some buying around Rs 1295-1296 per quintal while resistances are likely at Rs 1325-1330 per quintal in the short term.

NCDEX Pepper Tips

Pepper rebounded from the three consecutive sessions of losses lead by addition of fresh long positions amid expectation of festive demand. The NCDEX Pepper November contract ended the session higher at Rs 44,250, up by Rs 370 or 0.84% over the last close.

Pepper arrivals increased to 750 quintals from 590 quintals and offtakes jumped to 800 quintals from 600 quintals. Black Pepper for ready delivery in Kochi, closed Tuesday's trading session on positive note with MG-1 at Rs 42,400, up by Rs 300 and Un-Garbled pepper at Rs 40,900, up by Rs 300 per 100 kg.

Pepper eased from high on weak export demand and strong local crop estimation for the coming crop year. Exports demand for Indian pepper in the international markets remained weak due to huge price parity. Festive season demand limited the downside. Farmers are unwilling to sell their stocks at lower levels. There are reports the next year crop will be slightly better around 50,000 tonnes as crop condition in Idukki in Kerala and Karnataka are likely to be better. The crop harvesting is expected to begin after mid December only. During January - September 2012, total export of pepper from Brazil was 18,515 mt worth USD 124.9 million, down 10% in quantity, but increase in value by 12% over same period last year. The decrease in export reflected the available stock in Brazil was limited. The pepper production in Brazil this year is expected to be lower. Smaller crop in June/July in Espirito Santo has already confirmed the decrease and output of pepper crop in Para is also anticipated lower. Brazilian crop might be of around 28,000-30,000 tons this year and Indonesian crop is likely to be better this year. Not much dramatic movement is expected in pepper in the next fifteen days as Sial in Paris during this week and 40th IPC Meeting scheduled next week.

The NCDEX Pepper November contract slumped Rs 640 per quintal from the contract high of Rs 44500 level. The counter ended the session higher at Rs 44,250, up by Rs 370 or 0.84% over the last close. The contract traded in the range of Rs 43,710-44,425 per quintal.

NCDEX Soyabean Updates

Bearish trend continued in soyabean futures on the heels of strong domestic production estimates along with comfortable edible stocks in physical mandies. The NCDEX futures pared around Rs 82 per quintal today.

As per the latest crop estimates by Soyabean Processors Association of India ( SOPA ), the domestic soyabean production for the year 2012 is projected at 126.76 lakh tonnes, up 11.76 lakh tonnes from the last year. This is mainly due to strong sowing acreage along with better yield. Moreover, the total availability of edible oil till 25th October is estimated at around 10-11 lakh tonnes . This might reduce the soyabean crushing in the near term.

The total arrivals of soyabean decreased by 1.05 lakh bags to 1.80 lakh bags in major mandies today. The spot prices of soyabean were quoting at around Rs 3250-3280 per quintal at Indore mandi, Rs 3170-3190 per quintal at Nanded mandi and Rs 3235-3250 per quintal at Latur mandi.

The NCDEX November futures closed at Rs 3239 per quintal, down Rs 82 per quintal in last trading. The contract added almost 1000 positions in open interest indicating new short selling by traders.

NCDEX TMC Tips

NCDEX TMC ended the day with steady note . The futures market was not able to breach the previous high. The NCDEX TMC November contract ended the day at Rs 5224, down Rs 18 or 0.34% from the last close.

Turmeric price in the Nizamabad mandi stood at Rs 5,000 per quintal, down by Rs 100 per quintal and the arrivals remained unchanged at 500 bags. Turmeric price quoting in the Erode mandi stood steady at Rs 5,500 per quintal and arrivals increased to 3,000 bags from 2,000 bags. The Salem variety was trading steady at Rs 5,800 per quintal.

Prices have corrected sharply due to lack of buying by the market participants as well as higher stocks with the stockiest. Most of the traders in local mandis are currently projecting the turmeric production in the range of 62-64 lakh bags, almost 5-7 lakh bags above the previous estimates of 58-60 lakh bags. The previous year crop was around 90 lakh bags. Turmeric has been sown in 0.58 lakh hectares in A.P as on 10/10/2012. Sowing is also reported 30-35% lower during the sowing period.

The counter edged up from the low Rs 5074 and was not able to edge up above Rs 5274-5276 level and therefore was not able to gain further. The counter settled the session at Rs 5224, down Rs 18 or 0.34% from the last close. The open interest added 2% to 15,230 tonnes, indicating short selling.

NCDEX Tips

NCDEX Tips :-

Chilli futures were under heavy downward pressure on the back of adequate supplies in the physical market. The NCDEX Chilli most active November contract ended the day at Rs 4840, down Rs 138 or 2.77% from the last close.

NCDEX Chilli 334 traded steady at Rs 5,200-5,500 per quintal in the Guntur spot market. The total arrivals jumped to 40,000 bags (5,000 bags of Khammam teja) from 15,000 bags over previous close.

Fresh arrivals of around 35000-40000 bags of NCDEX chilli have been in reported in the important mandis of Madhya Pradesh in the last week. This is likely to be augmented by almost 80000-90000 bags in the coming days. Moreover, fresh arrivals will also increase from Maharashtra in the coming 15-20 days. This might also add some selling in chilli market. Strong carryover stocks in the major producing states on the account of sluggish export demand might also pressurize the prices in the coming days. Traders estimated that total stocks of around 48-50 lakh bags have been reported in the cold storages of Andhra Pradesh, Karnataka and Maharashtra.

The NCDEX Chili futures breached the support of Rs 4950-4920 level and futures ended the day near the session low at Rs 4840, down Rs 138 or 2.77% from the last close and the open interest 1.70% to 6,895 tonnes, indicating short selling.